The Future outlook of XinFin(XDC) Network & XDC2.0 Upgrade

The future outlook of XinFin(XDC) Network looks promising, particularly in industries like trade finance, cross-border payments, and supply chain management. As more businesses and institutions recognize the benefits of blockchain technology, the demand for hybrid solutions like XinFin is likely to increase. XinFin’s ability to combine the privacy and security of private blockchains with the transparency and accessibility of public blockchains gives it a unique edge over other platforms. Its focus on interoperability and regulatory compliance further positions it as a leader in enterprise blockchain solutions. With ongoing development, partnerships, and adoption by key industry players, XinFin is poised to become a major force in the blockchain space. The versatility of its network, combined with its emphasis on scalability, energy efficiency, and low fees, makes it an attractive option for businesses looking to adopt blockchain technology for real-world applications.

Following up on the previous blog, this time we will explore the ecosystem of the XinFin network and the recently updated XDC 2.0 upgrade.

XinFin Network Ecosystem

XinFin(XDC) Network ecosystem is built around various components designed to support decentralized finance (DeFi), enterprise applications, and real-world asset tokenization. Below are some key elements and major players within the ecosystem:

TradeFinex

Designed to facilitate trade finance and asset tokenization. It connects global businesses, financiers, and governments to improve access to capital, digitize assets, and streamline trade finance processes. By leveraging blockchain technology, TradeFinex aims to reduce costs, enhance transparency, and increase liquidity for trade finance participants. https://www.tradefinex.org/

MyContract

Smart contract platform that enables users to create, deploy, and manage customizable smart contracts without needing extensive coding knowledge. It simplifies contract creation for various use cases, including business agreements, asset management, and legal processes. https://origin.xdc.org/

Plugin (PLI)

Oracle platform to provide secure and reliable data feeds for smart contracts. It enables blockchain applications to access off-chain data, ensuring accurate and trustworthy information for various use cases, including DeFi, insurance, and supply chain management. https://plugin.global/

LedgerMail

Decentralized email platform that offers secure, private, and tamper-proof email communication. It utilizes blockchain technology to ensure data privacy, encryption, and immutability, providing users with a more secure alternative to traditional email services. LedgerMail aims to enhance data ownership and protection by eliminating third-party access to email content. https://ledgermail.io/

XDSea

NFT marketplace, allowing users to create, buy, sell, and trade non-fungible tokens (NFTs). It provides a platform for artists, creators, and collectors to showcase and monetize digital assets with low transaction fees and fast processing times. https://xdsea.com/

StroX

Storage solution offers secure, cost-effective, and scalable cloud storage powered by blockchain technology. It enables users to store, share, and manage data with enhanced privacy, security, and transparency. https://storx.tech/

XSwap (XSP)

Decentralized exchange (DEX) to swap, trade, and provide liquidity for various tokens within the XDC ecosystem. XSwap aims to enhance DeFi capabilities within the network by providing tools for token swaps, liquidity provision, and yield farming. https://xspswap.finance/

Globiance

Integrates traditional banking with cryptocurrency services. It provides crypto trading, digital banking, payments, and card issuance, leveraging XDC’s fast, low-cost transactions. Globiance serves both retail and institutional clients, bridging conventional finance and blockchain. https://globiance.com/

D'CENT

Self custody, hardware wallet with fingerprint authentication that supports the XDC Network, providing secure storage for digital assets including XDC tokens. https://dcentwallet.com/

Recent Institutional Partnerships of XDC Network

Deutsche Telekom MMS

Subsidiary of German telecommunications giant Deutsche Telekom, has expanded its Web3 services to the XDC Network (XDC), bringing blockchain adoption to enterprises. With the addition of XDC Network as a standby masternode, Deutsche Telekom strengthens its role in RWA tokenization and digital asset infrastructure.

SERPRO

Brazilian federal government's state-owned technology company, has partnered with XDC Network (XDC) to enhance security solutions for digital asset transactions in Brazil using blockchain technology. This partnership aligns with XDC Network's mission to enhance security and transparency in the Brazilian digital asset landscape.

XDC Network

The Digital Economy Council of Australia as a Foundational Partner. The partnerships extend beyond membership— it's about working more closely with companies and sharing commitment to actively supporting, engaging in all their initiatives and events.

SBI Group

Integrated with the XDC Network to explore blockchain applications, particularly in the areas of trade finance and digital asset management. Through its subsidiary SBI VC Trade, the company supports the adoption of XDC tokens and leverages the network's efficient, scalable blockchain for financial services. This Joint Venture (#SBI XDC) aims to enhance cross-border payments, liquidity, and digital asset ecosystems by combining SBI's financial expertise with XDC's blockchain capabilities. https://www.sbixdc.network/

XDC2.0 Upgrade

Official announcement was made for XDC2.0 upgrade and set to launch. It is one of the most significant updates to the XDC Network since its inception. This upgrade brings several key enhancements designed to improve the network's performance, security, and scalability. Here are some of the major improvements:

Military Grade Security

Byzantine Fault Tolerance (BFT): XDC 2.0’s Chained HotStuff protocol detects and eliminates malicious nodes in real time even if up to one-third of the nodes act maliciously. Additionally, a forensic monitoring system will provide a higher level of accountability and security for network participants. This gives the network deterministic security, ensuring that transactions cannot be rolled back once finalized, unlike probabilistic security systems like Bitcoin or Ethereum.

Faster Transaction Finality

The network’s block finalization time has been reduced to three blocks which significantly speeds up transactions and increases the overall efficiency of the network. This is crucial for enterprise applications and real-time financial settlements.

Improved Consensus Mechanism

The upgrade replaces the current XDPoS 1.0 consensus protocol that enhances both security and efficiency. XDC 2.0 uses a committee of 108 masternodes to maintain decentralization while ensuring security. Masternodes are selected through a deterministic process, and only those staking sufficient XDC tokens can participate in the consensus, encouraging honesty and integrity within the network.

Scalability and Efficiency

XDC2.0 continues to build on the network's low transaction fees and high scalability, making it ideal for industries like decentralized finance (DeFi), asset tokenization, and global trade. The network is capable of handling over 2,000 transactions per second, making it far faster and more cost-effective which is vital for growing enterprise use cases.

XDC Network Subnet

XDC Subnet is a technology that allows you to create a secure, scalable, and decentralized network within the XDC Ecosystem. It enables various use cases, including creating private subnets, deploying decentralized applications (dApps), and more. XDC Subnet is a rapidly developing technology, and new use cases are being discovered all the time. If you are looking for a secure, scalable, and customizable blockchain platform, then XDC Subnet is a great option.

XDC Subnet offers a more cost-effective alternative to traditional blockchain networks, saving you resources and capital. XDC Subnet is designed to be highly scalable, so it can handle a large number of transactions without sacrificing performance. Trust the battle-tested security of XDC Subnet, safeguarding the network from threats and vulnerabilities. Customize your subnet to be a fortress of privacy, allowing only those with authorization to access your network's data and transaction.

Conclusion

The XinFin (XDC) Network is a powerful blockchain platform that combines the best of public and private blockchain technologies. Its hybrid architecture, energy-efficient consensus mechanism, and focus on enterprise adoption make it a versatile solution for a wide range of industries, from trade finance to decentralized finance. As blockchain continues to transform industries across the globe, XinFin stands out as a platform that can deliver real-world benefits while maintaining the privacy, security, and regulatory compliance that businesses need. With its growing ecosystem, innovative technology, and potential to revolutionize key sectors of the global economy, XinFin is well on its way to becoming a key player in the blockchain industry.

Of course, managing your private key that authenticates of ownership of all XinFin’s digital assets, you need to have hardware wallet that saves your private key in encrypted matter and save in offline. Of course, supporting fingerprint authentication is another plus. With strong partnership that D’CENT has built with XinFix Network, we are very pleased to positioned as hardware wallet partner at XinFin Network.