[{"category":{"name":"BitScreener Exclusive","exported_url":"bitscreener-exclusive"},"id":"987f4695-4e9f-4389-ae1e-b35a58e2756c","updated_at":"2022-07-26T11:59:00+00:00","account":{"firstName":"Akash","lastName":"Kashyap"},"description":"XinFin which inherits from the public Ethereum (ETH) and private Quorum blockchain desires to facilitate international trade finance and inter-organizational payment operations. Let’s take a deep dive into XDC!","sapo":"XinFin which inherits from the public Ethereum (ETH) and private Quorum blockchain desires to facilitate international trade finance and inter-organizational payment operations. Let’s take a deep dive into XDC!","title":"XinFin (XDC): Leading Permissioned Blockchain Platform","content":"

Overview of XinFin

Xin Fin stands for exchange infinite, a Delegated Proof of Stake Consensus network (XDPoS), enabling Hybrid Relay Bridges, Instant Block Finality and Interoperability with ISO20022 messaging standards, making XinFin's Hybrid Architecture Developer friendly.

In addition, XinFin is a hybrid blockchain platform designed to modernize the global trade and finance sector by providing a user-friendly, efficient, and highly adaptable decentralized infrastructure solution.

XinFin is intended to supplement the legacy financial ecosystem by providing a permission blockchain on which governments, enterprises, and private firms can overhaul their tech stack and power a variety of novel use cases.

History of XinFin

XinFin was founded in 2017 by technology entrepreneurs Atul Khekade and Ritesh Kakkad. Singapore is where the company is registered.

Both co-founders are actively involved in the project. Khekade is in charge of XinFin's Technology & Ecosystem Development function, while Kakkad serves as the project's strategist. Kakkad was an early investor in XinFin as well.

In March 2018, the platform raised $15 million through an initial coin offering (ICO). In June 2019, the XinFin mainnet went live, becoming one of the first smart-contract blockchains to use proof-of-stake (PoS) consensus.

XDC reaches its all-time high at $0.1939 on August 21h, 2021.

About XDC token

XinFin (XDC) is the underlying utility token that powers XinFin's Hybrid Blockchain. The XDC token acts as a settlement mechanism for DApps built on the XinFin Hybrid Blockchain.

To date, use cases built around XinFin's XDC utility token are MyContract, TradeFinex, Kramaa, Land Registry, iFactor, Blockdegree, and TurantPay.

XDC, like Ethereum's Ether (ETH), is used to pay transaction fees and execute smart contracts. It can also be staked to participate in XinFin's validator network and for smart contract deployment.

How XinFin works

Because of its high-efficiency smart contract and real-time settlement capabilities, the XinFin platform enables organizations to participate in the global trade market at a fraction of the typical cost. XinFin believes that this will significantly improve the efficiency of cross-border transactions while enabling both public and private use cases.

To ensure compatibility between its hybrid blockchain and legacy financial systems, XinFin employs the ISO20022 financial messaging standard, allowing firms and governments to easily convert their centralized systems into a more robust decentralized network that takes advantage of XinFin's smart contract capabilities.

XinFin's hybrid architecture allows it to support public, private, and consortium chains for virtually any purpose. XinFin has already been used for remittance and peer-to-peer trading platforms, blockchain-powered insurance, online digital asset-linked identity, end-to-end land registry record management, and other applications, demonstrating the platform's versatility.

Features of XinFin (XDC)

XinFin is designed to address some of the shortcomings of previous blockchain-based systems, such as low throughput, high fees, and poor developer experience.

One method is through its energy-efficient consensus mechanism known as XinFin delegated-proof-of-stake (XDPoS). This makes use of a decentralized network of validators to secure transactions and protect against potential attacks. XDPoS employs double validation to re-check transactions before they are committed to the blockchain, thereby addressing the "nothing at stake" issue.

XinFin guarantees that even basic consumer-grade computer hardware can run a master node, making it highly accessible and maximizing decentralization. Before they can participate in consensus, public master node holders must complete identity verification using XDPoS's self-KYC feature.

This ultra-efficient consensus mechanism also enables transactions to reach completion in less than 2 seconds and with near-zero transaction fees.

Is XinFin a good investment?

XinFin provides organizations with an efficient platform for conducting financial transactions. The platform is designed primarily to meet the needs of financial institutions and governments.

XinFin, while primarily a public decentralized platform, allows organizations to create their own permissioned or private networks on the platform.

Because of these outstanding features, many people predict that the price of XDC will rocket in the forthcoming future.

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XinFin (XDC): Leading Permissioned Blockchain Platform

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