What Is Xinfin (XDC)?

Xinfin, short for exchange infinite, is a hybrid blockchain network enabling global trade and finance. Being a hybrid blockchain allows Xinfin to combine public and private blockchain features with cross-chain smart contracts. Smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on the blockchain. Cross-chain transactions allow the network to perform digitization, tokenization, and fast settlement of trade transactions. 

XDC is the native utility token of the XDC blockchain that facilitates global and domestic trade by providing liquidity to the financial industry. The token also supports business efficiency through different sectors by offering non-tokenized and tokenized services. Utility tokens for particular industries are created with small chains on the XDC01 protocol. 

Xinfin also offers in-house crypto wallet services that perform real-time transactions worldwide. The wallet also runs on the XCD01 protocol and aims to give high transaction output with utmost security. 

Many problems surround trade, particularly global trade and finance. These issues include no cross-border transactions, legacy issues, deficiency of global financial marketplaces, limited conventional financial providers, and the nature of infrastructure investments. 

Blockchain technology solves these issues by providing an open distributed database that is secured and encrypted with cryptography. The technology is also equipped with a consensus mechanism that ensures that all the network nodes are in agreement with each other regarding any change made to the blockchain. This results in having no central points of failure in the system. 

Xinfin's whitepaper states that the network aims to increase efficiency, decrease dependency on complicated infrastructures, and make financial institutions more flexible toward managing liquidity. The network intends to utilize the benefits of blockchain technology to build a complete ecosystem around Xinfin's blockchain protocol, called the XDC01 protocol. According to the whitepaper, this protocol aims to be beneficial for government bodies, financial institutions, and corporations as it will facilitate low-cost financing and global trade. 

XCD01 Protocol: Xinfin is a hybrid network that has the features of both private and public networks. The private state ensures financial data security, and the public state ensures transparency, validity, and decentralization. This hybrid system supports the XDC protocol's security, scalability, and speed and makes the protocol adaptable with other blockchains. 

The hybrid network runs on the proof-of-stake mechanism, is hosted by masternodes, and is powered by the XDC token, which is used to carry out every transaction on the Xinfin network. The real-time data is entered into the network with the help of the IoT layer. The entire XDC01 protocol helps the token run within the network. 

Thus, the XDC01 protocol runs as a messaging and confirmation layer for internal and cross-chain payments. XDC is used as a payment and settlement medium supported by trusted financial institutions. 

The XDC01 protocol and other smart contracts are not theoretical features that have no use case; these can be used practically in many use cases like finance, distribution, purchases, supply chain, and settlement to build DApps. For example, an ideal application for Xinfin is an e-taxi app where rides can be booked via a DApp and transactions can be settled and recorded on the blockchain.

History of Xinfin(XDC)

Atul Khekade founded Xinfin in March 2017. Besides founding Xinfin, Khekade is the founder of an online education funding platform called Funder, a cofounder of a DeFi protocol on Xinfin network called TradeFinex, and a founding partner at Airnetz, an on-demand private jet and helicopter provider. The whitepaper was published in March 2021.

How Is XDC Created(XDC)?

According to the Xinfin whitepaper, the maximum total supply of XDC tokens is 100,000,000,000 coins, and all these tokens are limited and locked. The tokens are received through mining, but there is no need to do that anymore as the token is already pre-mined. The token is distributed throughout the network to induce growth and promote a network effect. 

25% of the token's total supply is reserved for the founders and the core team. 15% of the supply is set aside for the development pool of the ecosystem of the Xinfin organization. 10% is allotted for pre-placement and follow-up token offering, and 32.5% is allocated as incentives for users to participate in the ecosystem. 10% is earmarked for hedge pools, 5% is reserved for philanthropic activities, and the remaining 2.5% is committed to the contingency fund.