XDC Network Coin: An Explanation of Its Functions and Utilities

Bittime - In the ever-evolving world of cryptocurrency, many blockchain projects are offering innovative solutions to various problems. One project that is attracting attention is XDC Network. By combining efficient hybrid blockchain technology and advanced features, XDC Network strives to simplify and optimize business transactions as well as decentralized applications (dApps). 

In this article, we will discuss in depth about XDC Network Coin, including what XDC Network is, how it works, and the function and utility of XDC Coin itself. Does this project have great potential in the future? Let's explore it further.

What is XDC Network?

XDC Network is a hybrid blockchain designed for business and financial needs, combining the benefits of public and private blockchains. Introduced by XinFin, XDC Network offers infrastructure that supports smart contracts, fast transactions (2000 transactions per second), and transaction confirmation times that only take 2 seconds.

Also read: Q1 2025 Airdrop Listing List

One of the main features of XDC Network is usage delegated proof of stake (XDPoS), which allows these networks to be more scalable, efficient, and secure. XDC Network is designed to overcome the problems faced by other blockchains, such as network congestion, long transaction times, and high transaction fees.

This blockchain also integrates interoperability with the Ethereum Virtual Machine (EVM), allowing developers to leverage the Ethereum ecosystem at lower costs and higher speeds. Additionally, XDC Network has strong security layers, including processes double validation And randomization, which ensures that transactions within the network are secure and almost impossible to fake.

XDC Coin Functions and Utilities

XDC Coin is a utility token that supports the operations of the XDC Network. This token has various main functions in this blockchain ecosystem, such as being used as a means of payment for decentralized applications (dApps) built on the XDC Network. In addition, XDC Coin is also used to pay transaction fees, participate in the block validation process through delegated proof of stake, as well as supporting various processes related to smart contracts.

Read Also: These are 3 Crypto Narratives That Will Boom in 2025, Take Care of It! 

One of the main benefits of XDC Network is its ability to reduce transaction fees almost to zero. In contrast to other blockchain networks which often charge high fees for each transaction, XDC Network optimizes efficiency and costs, thereby facilitating cheaper and faster international business transactions.

XDC Network also enables the digitization and tokenization of business transactions, allowing companies to simplify their payment systems and asset management without needing to rely on complex and expensive foreign exchange systems.

How Does XDC Token Work?

XDC Token is supported by a masternode network, which consists of 108 masternodes that manage the transaction validation process within the network. By using mechanisms delegated proof of stake (XDPoS), XDC Network ensures transactions can be processed quickly and efficiently.

This token has a maximum supply of 100 billion XDC, which has been fixed since its inception. The distribution of these tokens is carefully planned to ensure the sustainability and viability of the project.

Some of the applications that use the XDC Network and the XDC token include platforms such as MyContract, Kramaa, TradeFinex, iFactor, TurantPay, Land Registry, and Blockdegree, all of which leverage the speed and efficiency of the XDC Network to provide better blockchain solutions.

Is XDC Network a Promising Project?

While it is still too early to predict the future of XDC Network with certainty, the project is already showing significant progress. With a diverse team of highly skilled professionals, as well as respected consultants, XDC Network has great potential to change the way business and financial transactions are conducted in the digital world.

XDC Network's main advantage lies in its ability to overcome various problems faced by other blockchain platforms, such as scalability, transaction costs, and interoperability. The focus on business and government applications makes XDC Network highly relevant to a wide range of industry sectors looking to utilize blockchain technology at scale.

Conclusion

XDC Network Coin, with XDC Token at the core of its operations, offers a highly efficient and secure hybrid blockchain solution, aimed at optimizing business transactions and decentralized applications. With a variety of innovative features and a solid team, XDC Network can be an attractive choice for developers and companies looking for a fast, secure and low-cost blockchain platform.

Will XDC Network grow rapidly in the future? Only time will tell the answer, but the potential this project has is certainly worth keeping an eye on.

FAQ 

What is XDC Network?

XDC Network is a hybrid blockchain that combines the advantages of public and private blockchains, designed for fast and secure business transactions.

What is the main function of XDC Coin?

XDC Coin is used as a means of payment in decentralized applications (dApps), as well as for transaction fees and participation in block validation on the network.

What are the advantages of XDC Network compared to other blockchains?

XDC Network offers faster transactions, lower fees, and interoperability with the Ethereum Virtual Machine (EVM), making it more efficient and scalable.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with CoFTRA, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Cek course BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Additionally, visit Bittime Blog to get various interesting updates and educational information about the world of crypto. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the world of crypto.

Reference
Cryptoticker, What is XDC Network? Is it a Good Project?, accessed January 20, 2025.

Author: MF