What is XDC Token?

Pivot is a global venture accelerator firm dedicated to the Web 3.0 industry, created by founders, for founders. Pivot’s selected startups are focused on milestones & are not bound to periodic curriculum-based programs. Founded by Anshul Dhir, a 3x founder in the Web 3.0 space, and mentor and investor in over 50 companies in Web3.

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In Q1 2021, the XDC Foundation was established as a legal entity incorporated for the express purpose of supporting the XDC Network, and it relies on the input of community members in order to decentralize its influence. As part of its mission, the XDC Foundation seeks to encourage the development and use of the open-source XDC Network, which is currently being utilized by a variety of third-party operations. The purpose of XDC Origin is to simplify secure smart contract deployment and enable asset tokenization without custom programming expertise. Over the XDC blockchain, the platform can build legally enforceable digital smart contracts between members. Smart contracts ensure that funds are allocated and used in a transparent manner.

Self-described as a third-generation blockchain, XinFin is built to tackle some of the challenges faced by earlier blockchain-based systems — such as low throughput, high fees and poor developer experience. Being EVM compatible, developers are able to easily deploy their Ethereum smart contracts on XDC Chain with few to no modifications needed. The three co-founders of the platform, Atul Khekade, Ritesh Kakkad and Karan Bhardwaj, all have long storied histories in the blockchain ecosystem. Notably, Khekade is an experienced software programmer credited with founding several other tech firms and funding the XDC-powered Blockdegree education platform.

What Is XDC Network (XDC)?

It is a global, open-source, delegated proof of stake consensus network (XDPoS), which enables hybrid relay bridges, instant block finality and interoperability with ISO financial messaging standards. The network’s hybrid (private/public) architecture is designed to support institutional use in trade finance and asset tokenization. Featuring interoperable smart contracts, 2,000 transactions per second, and Ethereum Virtual Machine compatibility, the XDC Network provides a scalable infrastructure for enterprises and independent community contributors.

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Over the past 20 years, Ritesh has accumulated extensive experience in the fields of Cloud Hosting, Cloud Setup and Internet-Infrastructure. Ritesh is now leveraging his experience at XDC Network in the areas of Blockchain and protocol setup. A specialist in developing and managing startup support programs including accelerator and incubation program, Tadashi initiated and operated the Japan’s first govt.

XDC Network

• The network supports ISO20022-compatible messaging systems and provides interoperability with legacy systems.
• They are derived from Ethereum Improvement Proposals (EIPs), which are in turn derived heavily from Bitcoin Improvement Proposals (BIPs), which were derived from Python Enhancement Proposals (PEPs).
• For example, smart contracts can be used to automate escrow agreements by holding funds until the terms of an agreement are met, making international trade faster and more efficient.
• The XDC Network sets a benchmark for digitizing trade finance by enabling the tokenization of diverse trade finance instruments and assets.
• It is a global, open-source, delegated proof of stake consensus network (XDPoS), which enables hybrid relay bridges, instant block finality and interoperability with ISO financial messaging standards.
• Third-generation blockchains fundamentally deal with the issues like scalability, speed and interoperability in the blockchain platforms.

In March 2021, XinFin also signed an agreement with R3, the owner of the Corda blockchain. As per the agreement, XDC became a recommended platform-wide settlement coin for the Corda blockchain. XinFin has also recently become a partner of the Trade Finance Distribution (TFD) Initiative, a consortium of financial institutions cooperating on improving transparency and efficiency of inter-organizational payments. The TFD Initiative includes some prominent finance industry names, such as ABN AMRO, ING, Deutsche Bank, Standard Chartered, ANZ Bank, and the Commonwealth Bank of best cryptocurrency exchange 2021 reviews Australia. So far, XinFin has made some modest yet somewhat limited progress in targeting governments and financial organizations. It has cooperated with the government of Maharashtra, one of the largest Indian states, to present a proof-of-concept for the land registry records on blockchain.

With a peak brightness of 2,360 cd/m², the prototype is a strong candidate for devices such as smartwatches, smartphones, tablets, and laptops. This collaboration focuses on supporting 10 promising startups working in the DeFi, Payments, and Real-World Asset (RWA) sectors, aiming to enhance blockchain integration on the XDC Network. Pivot and XDC Network are excited to announce a joint co-acceleration initiative titled ‘Let’s Pivot-to-XDC,’ which will provide funding to foster the growth of innovative blockchain startups. Smart contract audits are an integral part of the smart contract development process. Governments and policymakers are encouraged to employ strategies to create the groundwork for these projects so that they reap the benefits of efficient network implementation and lessen the load on taxpayers.

Funding for each startup will be disbursed according to the achievement of key milestones, ensuring resources are available at the most impactful points in their development journey. This structured funding approach allows each startup to access the necessary tools for sustainable growth and seamless integration into the XDC ecosystem. The ‘Let’s Pivot to XDC’ co-acceleration program differs from traditional cohort-based approaches.

On the one hand, all base layer blockchains, such how to start crowdfunding in bitcoin for free as Ethereum, EOS, NEM, NEO etc., are competitors because app developers or token issuers will generally choose only one blockchain to work on. On the other hand, it is too early to focus on competition as it is more important to expand the whole blockchain ecosystem than it is to compete. This multi-standard token allows the creation of multiple tokens within a single contract. With XRC1155, one smart contract can represent and govern an infinite number of tokens, providing a versatile and efficient solution on the XDC Network. As the standard for creating NFTs, it sets the baseline for smart contracts, ensuring proper ownership, management, and trading of unique items. The holistic integration of accountability and forensics within the blockchain positions XDC Network as a uniquely secure and well-monitored blockchain protocol.

XDC Network’s hybrid architecture is meant to combine the features of public and private blockchains to navigate the complex needs of international trade and finance. Traditional trade and financial systems are often plagued by barriers that affect their efficiencies, such as third-party intermediaries, delays, and overly complicated processes. XDC Network addresses these shortcomings use these 25 job sites to find your first developer job software development by streamlining processes and enabling real-time tracking and verification of goods and services, fostering a more transparent and efficient global marketplace. Using XDC Network, businesses can improve their record keeping, exchange data and transfer assets more efficiently and more securely. Singapore-based XinFin launched the (public/private) mainnet XDC Network in 2019 with the goal of transforming real-world business processes, particularly in the global trade and finance markets.