XinFin is a Singapore-based blockchain technology company that specializes in international trade and finance. Traditional trade and financial systems are often plagued by barriers that affect their efficiencies, such as third-party intermediaries, delays, and overly complicated processes. XDC Network addresses these shortcomings by streamlining processes and enabling real-time tracking and verification of goods and services, fostering a more transparent and efficient global marketplace. Using XDC Network, businesses can improve their record keeping, exchange data and transfer assets more efficiently and more securely. The purpose of XDC Origin is to simplify secure smart contract deployment and enable asset tokenization without custom programming expertise. Its EVM compatibility allows developers to build autonomous decentralized applications (DApps).
The private component provides an added layer of security and privacy needed for sensitive financial and company data. Using a delegated Proof of Stake consensus mechanism (XDPoS), XDC Network offers a scalable and efficient platform poised to transform how businesses and financial institutions operate across borders. Further, the XDC Network can transform the trade finance industry by bringing decentralization, liquidity, and tokenization of real-world assets to the forefront. Deploy smart contracts, interact with the network, and build innovative dApps usingour comprehensive tools and protocols. XDC can support public, private, or consortium-owned chains and be used for almost any task.
How secure is the XDC Network?
- XDC Network was invited to become the first and, at the time of writing, only Layer 1 blockchain ecosystem member.
- The network’s ISO compatible messaging system ensures interoperability with the language of core banking systems, ERP systems, SWIFT, and others.
- XinFin is a Singapore-based blockchain technology company that specializes in international trade and finance.
- The tokens can act as units of account for applications that reside on the XDC Network.
- A Letter of Credit (L/C) is one common trade finance product and involves a bank pledging payment on behalf of the buyer (importer) to the seller (exporter).
Influenced by Ethereum Improvement Proposals (EIPs) and Bitcoin Improvement Proposals (BIPs), XIPs allow developers to shape network standards. A forthcoming upgrade to the consensus mechanism, dubbed XDC 2.0, is currently running on testnet. It and subsequent iterations of the XDC Network protocol will further enhance the security of the consensus mechanism and incorporate a novel “judiciary branch” into the consensus mechanism. The nature of financing and guaranteeing payment for products being shipped between exporters and importers has proven to produce very little risk over long periods of time.
It is about flow of ideas, value and assets through a trustless ledger – connecting ‘small’ businesses to the enterprise level. XDC Network is positioned to solve real world problems, from enabling SMEs to participate in Trade Finance to ensuring charitable funds get to where they’re most needed how to buy people in a trustless, transparent manner. Through XDC, creators, financial innovators and developers can access an inclusive, accessible and decentralized world, benefitting from both the network technology and network of participants.
It is based on Chained HotStuff, the state-of-art BFT (Byzantine fault tolerance) consensus algorithm. The XDC Network is equipped to keep pace with the rapid rate of blockchain adoption. The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App. Of note, Masternodes and delegators do not have an unbonding period to withdraw their staked tokens, allowing for greater flexibility for participants. XDC Network went through a token generation event (TGE) where they distributed their tokens to investors at $0.0029 per token. In 2022, XinFin raised an additional $50 million through a funding round led by LDA Capital.
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There is time in transit from the point of sale to the delivery of the goods purchased, and this is typically what trade finance covers. For example, a bank may provide a guarantee to the seller on behalf of the buyer that promises to make the seller whole should the transaction fall through game changing technology due to the buyer’s lack of payment. ISO is an international standard for financial messaging that financial institutions will migrate to as a common language for cross-border payments messaging. Community can be anyone interacting with and contributing to the XDC Network in any way. This can be users, developers, entrepreneurs, enterprise, supporters, and any participate that contributes to or builds on the network.
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Treasury token, USTY, representing blockchain-based versions of shares in a U.S. Kakkad and Khekade set out to build an enterprise-ready blockchain uniquely suited to liquifying global trade finance. The International Trade and Forfaiting Association (ITFA) was founded in 1999 as a worldwide trade association for companies, financial institutions and intermediaries engaged in global trade, forfaiting, supply chain and receivables financing. XDC Network was invited to become the first and, at the time of writing, only Layer 1 blockchain ecosystem member. XDC Network was developed in 2017 by XinFin, which stands for Exchange Infinite.
This network’s versatility has been demonstrated by its use in various applications, including peer-to-peer trading platforms, insurance powered by blockchain, online digital asset-linked identity, end-to-end land registry record management, best bitcoin wallets in 2021 and more. XinFin Fintech’s vision for an enterprise-grade blockchain network began with a solid technical foundation and a sustainable route towards decentralized participation. A decentralized community with diverse contributions create major opportunities for network adoption. Going forward, XDC Network is positioned to support a suite of RWA products that will make trade finance assets widely accessible to capital markets while enabling finance-starved MSMEs to access the financing they need.
