XDC Network: what it is, how it works, and native coin features

XDC Network is a hybrid, open-source blockchain protocol that specializes in tokenization for decentralized finance (DeFi).

It was created by a company called XinFin Fintech. It happened back in 2017, but time has passed, and now the network is managed by the XDC Foundation. This organization is a non-profit one, whose main goal is to sustain the growth and expansion of this network through community efforts.

Right now, it's possible for enthusiastic users to take control of the network's development course. It's good, too. An invested person will try their best to promote a thing they like, which is why you can expect things to only improve at this stage.

Features of the XDC network

Perhaps the brightest and most important feature of the network is that it embodies an entirely new consensus mechanism.

That would be XDPoS. Compared to Delegated Proof of Stake (DPoS), it is much more energy efficient. It is also faster.

What makes this possible?

This is all thanks to a method for efficiently solving consensus problems. Voting takes place in real time, virtually eliminating the possibility of fraud or manipulation.

What is XDC network for?

Below are the main functions of XDC Network:

1. Funding the development of the entire XinFin ecosystem, e.g. XinFinScan, XinFinWebWallet. It also benefits several organizations that XinFin works with. For example, OKEx, Huobi Pro, and Bitmain Technologies.
2. Long-term decentralized management tool.
3. Asset support for payment in some decentralized ecosystems and projects.

What are the disadvantages of this project?

There is a problem, but you can't really call it a drawback. It is more like a very controversial point. That point is the extremely centralized node structure.

There's a KYC verification process for nodes. It takes 10 million XDCs to become one. So, this is where people are divided. Thus, most think it is risky, unjustified, and too closed. It's also believed, though, that such methods are capable of providing more security than their equivalents in other projects.

What about XDC cryptocurrency?

There is no point in discussing the project in isolation from its native coin. So, let's get to it right now. Here's a brief overview of what XDC is currently like so that you can make your own conclusion on whether or not this coin is worth following.

XDC is, as you can expect, this network's native coin, which makes it a reserve currency for all third-party apps running on this network. Additionally, it is in the center of much of the network infrastructure. For instance, new tokens or applications can only be released by using some XDC.

How many coins are in circulation?

The maximum volume of circulation is about 37 million. As of 2023, 14 million coins have been released.

In terms of asset delegation (percentage), it looks like this:

• 32.5% — rewards to network members;
• 25% — rewards to the development team;
• 15% — for the ecosystem to keep it running;
• 10% — for the hedge pool to keep it functional;
• 10% — token placement;
• 5% — charity;
• 2.5% — for stable operation of the system.

Where can I get XDC?

XDC can now be purchased on many exchanges. Some of them are KuCoin, Bitfinex, Huobi, Gate.io, HTX, Bybit and Bittrex.

The token itself is based on the ERC20. Curiously, XDC is compatible with many Ethereum dApps. Firstly HunnyPlay, Uniswap (second and third release), OpenSea.

Coins can be stored in the XinFin wallet, by the way. This is a special program actually located in the blockchain, which provides access to crypto through public and private keys.

Projections

XDC has great potential.

As you can see, XDC continues to rise, slowly but steadily. Now, it costs about 0.047 USD with a market cap of 640 million USD and a 24-hour trading volume of almost 6 million USD.

This cryptocurrency is on the rise even now, just as we are writing this article.

2023

The minimum and maximum price of XDC, according to the technical analysis of traders and whales, can be around $0.061 and $0.067 respectively, while the average price is around $0.064.

As mentioned above, the coin is actively growing right now, so these are probably close to real numbers.

You can go to Binance or CoinMarketCap to see the exact price and how the prices move.

Take your pick. These are two trusted resources with up-to-date information that is updated every second.

2024

It's difficult to project so far ahead, but you can always imagine what it'll be like using all the various tools available to us. According to the professional forecasts, as well as just looking at the market situation, we can assume that XDC in 2024 will grow in value, reaching around 0.069 — 0.074 USD. The average price, at the same time, will be around 0.072 USD.

From this, we can deduce that investing in XDC can be a smart decision that will potentially bring you money.

In any case, investors are advised to analyze all trends and rely on price forecast data to make smart decisions about buying this or that cryptocurrency.