This is a sponsored article.
With the cryptocurrency revolution making its incredibly slow crawl toward mainstream adoption, there have naturally been a lot of questions about what how the existing financial system will be able to mesh with the new waves of increasingly innovative blockchain technology. The global trade and finance ecosystem is immensely complex and intertwined with public and private institutions that all need to interact with each other – leading to a ton of inefficiency and wasted money.
Cryptocurrency projects in recent years have tried to develop solutions that tackle this problem from different angles. Payment coins like Bitcoin (BTC) and Litecoin (LTC) have become extremely popular, as well as settlement-related coins like Ripple (XRP) and smart contract-enabling platforms like Ethereum (ETH).
But none of those highly successful coins present an all-encompassing fix yet, and they certainly aren’t compatible with each other when it comes to interoperability. Moreover, Ethereum (ETH) and Bitcoin (BTC) transactions are known to be slow and have higher-than-necessary transaction costs.
Thankfully, there’s a young cryptocurrency that has the potential to resolve all of these imperfections – it’s called XinFin (XDCE).
Meet XinFin (XDCE), the hybrid multi-use blockchain
This platform is a next-generation financing mechanism that was built to complement – not replace – the current financial ecosystem “in a seamless manner.” XinFin (XDCE) is highly scalable, safe, permissioned and commercial grade blockchain network that is the result of a fork from two established distributed ledgers: Ethereum (ETH) and Quorum (which is backed by JPMorgan).
XinFin, which is short for “exchange infinite,” was constructed with something called the XDC01 protocol, which supports a smart contract layer as well as a KYC/AML layer. The platform is driven by the use of two digital tokens. The first is its native fuel, XDC (XinFin Digital Contract), which is an ERC20 token that users need to participate in the network.
The second token is called XDCE, and this is the tradeable coin that is now on crypto exchanges. XDCE tokens are swappable on a 1-to-1 basis for XDC tokens.
How does XinFin (XDCE) stack up?
When it comes to what this network can achieve, this coin has a lot of advantages over its rival crypto coins that currently dominate the market when it comes to total net value. Bitcoin (BTC), for example, can really lag on transaction processing – taking up to ten seconds to confirm a transaction. Ethereum (ETH) takes about 14 seconds, which is much better, but there is the issue of scalability too. Only 3-7 ETH transactions can be confirmed per second.
XinFin (XDCE), on the other hand, is lightyears ahead. The network can confirm more than 300 transactions per second, enables smart contracts (unlike Bitcoin), offers transaction privacy (unlike Ethereum), and supports interoperability among different blockchain networks (unlike Ripple). You can see how it compares in this graphic:
But, more importantly, this network achieves all the things that Ripple, Ethereum and Bitcoin are trying to make happen on their own – a blockchain protocol that enables smart contracts as well as settlements. XinFin manages to do it with a much faster and low-priced protocol, while offering the benefits of a hybrid network and cross-chain functionality.
The content within this press release was provided by the organization referenced. usaCommerce is not endorsing and is not responsible for or liable for any content, products, accuracy, advertising, quality or other materials found on this page. Readers are advised to perform their own research before executing any actions related to this company.