In our commitment to broaden our offerings continually, we are introducing a new project addition - XDC. XDC Network is an innovative open-source with the aim to bridge blockchain networks and conventional finance to support institutional adoption. XDC is a scalable blockchain that supports EVM compliant smart contracts and decentralized applications.
In this article, you will learn what the XDC Network is, understand how it works, and discover what makes it unique. Additionally, you will learn about the XDC smart contract, XDC Masternodes, and explore its native token XDC, its tokenomics, and statistics. We will conclude with a concise guide on how to buy or trade XDC on CoinEx.
What Is the XDC Network?
The XDC Network is an open-source blockchain platform known for its instant block finality, low transaction fees ("gas fees"), and support for smart contracts, which are crucial for institutional adoption in decentralized finance (DeFi), asset tokenization, and various other decentralized solutions.
The XDC Network is highly scalable, utilizing a Delegated Proof of Stake consensus mechanism (XDPoS) that enables almost negligible gas fees and a rapid 2-second block time. XDPoS is recognized as one of the most expedient and effective consensus methods in today's blockchain industry. The mechanism is structured to select network validators based on the delegation of votes by coin holders.
Developed by XinFin, the XDC Network is the result of the collective efforts of a decentralized community and commits to both security and decentralization. Headquartered in Singapore, XinFin launched the XDC Network in 2019, striving to revolutionize business processes and the financial markets. The network is underpinned by the XDC Foundation, a decentralized legal entity established to foster the growth and adoption of the XDC Network in financial and other sectors.
While several of the XDC Network's features are common among cutting-edge blockchain platforms, its distinct attribute is the ISO 20022-compatible messaging system, which is designed for seamless interoperability with traditional banking systems, ERP systems, SWIFT, and more. The overarching goal of the XDC Network is to serve as a conduit between legacy systems and the broader universe of public blockchain networks.
XDC Smart Contract
Smart contracts on the XDC Network enable asset digitalization, tokenization, and the execution of automated payment protocols based on predefined agreements. These smart contracts are also instrumental in creating decentralized applications (DApps) relevant to various business operations, including supply chain management, financing, distribution, procurement, and settlement processes.
Crucially, XDC smart contracts are compatible with the Ethereum Virtual Machine (EVM), which means that developers familiar with Ethereum's development environment can utilize similar tools and libraries to build on the XDC Network.
XDC MasterNodes
The XDC Network depends on MasterNodes which are also known as “Validators”, the Masternodes are distributed and they run on a delegated proof-of-stake consensus mechanism. MasterNodes are required to stake XDC tokens as other proof-of-stake blockchains and also comply with the KYC requirements provided. The MasterNodes are required to stake 10 million XDC tokens and after the resignation of a MasterNode(Validator), they are obliged to wait for 30 days before they can claim back their staked XDC tokens.
The XDC Masternodes are decentralized; the XDC Foundation does not control the nodes, nor does it know their geographical locations. There are about 108 MasterNodes on the XDC Network, the MasterNodes make use of the XDPoS consensus to validate XDC transaction blocks and record them on the blockchain.
What Is the XDC Coin?
XDC is the native token of the XDC Network. The XDC coin powers the XDC blockchain and it facilitates transactions by covering fees, rewarding validators for their contribution, and serving as a medium of exchange for goods and services. The XDC also serves as a utility token within smart contracts and DApps.
XDC Tokenomics
XDC Statistics
Token Symbol: XDC
Token Supply: 37,705,012,699 XDC
Market Capitalization: $689 million
Trading Price: Approximately $0.05
*Data source: The table above is real-time data from Coinmarketcap as of January 10, 2024
Where to Buy and Trade XDC Coins?
CoinEx is a global cryptocurrency exchange, trusted by 5+ millions of users worldwide with 100% reserve. With its 700+ tokens supported, including XDC, users can now trade easily and seamlessly. To purchase XDC coins on CoinEx, follow the steps below.
- Create an Account: Start by signing up for a CoinEx account.
- Deposit Funds: After logging in, deposit funds into your CoinEx account using any supported cryptocurrencies or deposit methods available on the exchange. Having funds in your account enables you to execute trades seamlessly.
- Navigate to XDC Trading Page: Once your account is funded, navigate to the dedicated XDC trading page on CoinEx. You can locate XDC trading pairs on the spot trading page using a search box and enter the term "XDC" to find the associated pairs.
- Choose a Trading Pair: Select the trading pair XDC/USDT to trade XDC against USDT (Tether).
- Specify the Purchase Amount: The next step is to specify the number of XDC you wish to buy. You have the option to either buy them at the current market price or set a limit for your desired buying price on the trading page.
- Execute the Trade: With the specified amount, proceed to execute the trade. Confirm the details, and if you are satisfied, submit the order.
By following these comprehensive steps, you can easily trade XDC tokens on CoinEx, taking advantage of the available trading pairs.
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