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XDC Price

XDC

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About XDC Network (XDC)

The XDC Network (formerly XinFin Network) is an interoperability-geared blockchain that leverages its public/private hybrid architecture to allow governments, banks, companies and other entities to discreetly connect with one another as well as to the wider crypto ecosystem. Its overarching use case is centered on international trade finance, specifically making capital exchanges among institutions much more fluid.

XDC is the network’s native currency. It powers/secures the network by way of validator staking. Consensus is reached via a delegated proof-of-stake (dPoS) mechanism. Thus, XDC is considered extremely energy efficient and scalable for commercial-grade use; it’s also global, open-source and Ethereum Virtual Machine (EVM) compatible.

Although XDC is a public network, its hybrid design should help appease regulatory concerns among banks and financial institutions, according to CoinDesk.

Recently XinFin announced a partnership with Kinesis Money Partners, a global trading and utility platform specializing in digital assets and precious metals. As part of the partnership, Kinesis will list XDC tokens on its platform, enabling XDC holders to trade against precious metals tokens.

Who created XDC?

XDC was launched by XinFin, a blockchain development firm cofounded by Ritesh Kakkad, a well-known tech entrepreneur with experience in cloud computing, and Atul Khekade, an engineer who helped build a blockchain network on behalf of a consortium of Asian banks. The founders are from India and XDC is based in regulatory friendly Singapore. Its roots, CoinDesk said, trace to the Abu Dhabi regulatory fintech sandbox.

When was XDC created?

XinFin was founded in 2017 on the back of $1.5 million raised via a private token sale, CryptoNewsZ said. The ERC20 XDC token appears to have started widely changing hands in April of 2018, according to CoinGecko. In 2021, the XDC Foundation was established to support the broader XDC network.

What is the price history of XDC?

As of late April 2022, XDC was trading at about $0.06 having declined 70% since it reached an all-time high of $0.19 in late August of 2021, according to CoinGecko. XDC's record low, hit in July of 2019, was $0.00039532. XDC has since gained more than 14,000%. Its market capitalization, as of late April 2022, was roughly $700 million, making it the 119th-largest coin, per CoinGeck's rankings.

How is the price of XDC determined?

XDC’s price is in part determined by the coin’s deflationary nature. Only 37.5 billion XDC were minted upon launch, 12.2 billion of which are currently in circulation.

What are the main benefits/advantages of XDC Network?

*XDC is equipped with full ISO 20022 financial messaging standards, ensuring full interoperability with SWIFT and business-focused ERP systems.

 *XDC EVM compatibility facilitates the seamless integration of Ethereum-based projects and tokens.

 *The network’s delegated proof-of-stake (dPoS) consensus model enables high throughput speeds – 2,000 transactions per second (TPS) – and near instant finality.

 *XDC’s hybrid blockchain framework leverages the immutability, transparency and security of public blockchains while maintaining the privacy of sensitive on-chain data.

*XDC brings energy-efficient smart contract and digital asset technology to the trade investment class, according to an official statement from the Trade Finance Distribution (TFD) Initiative, a consortium of trade originators, credit insurers, and institutional funders on a mission to boost automation and transparency in trade asset and risk distribution.

What is the outlook for XDC?

 *A bullish case was put forth by CryptoNewsZ which noted that the XDC Network has “come a long way in addressing and overcoming the global trading and financial space obstacles, bringing buyers, suppliers, financiers, trade unions and government bodies together on a peer-to-peer platform. XDC is worth investing in, CryptoNewsZ added. “It’s a great crypto with long-term potential even though it has not gained major market recognition."

*By the end of 2023, XDC could reach $0.45, TheNewsCrypto said.

*A more bearish outlook comes from Wallet Investor which said XDC could decline to as low as $0.00247 by the end of the first quarter of 2023.

How to buy XDC

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1. Go to Uphold.com and click sign up.

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