If we examine the history of technology, we’ll observe it comes in layers, each building upon the work of its predecessors. The same can be said for blockchain technology and cryptocurrency; the first was bitcoin with its novel idea of a decentralized network using cryptography and blockchains to construct a new type of digital finance that aimed at revolutionizing the modern system as we know it, but it had problems, most particularly the mining problems and the scalability problem. Then, Ethereum, the Queen of the market came along with presenting its own framework with how to deal with problems unanswered by bitcoin. But even Ethereum wasn’t able to answer the problems of scalability as well as the congested traffic causing transactions to charge very high gas fees.
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But judging by the pattern, there should be something next. Something that can build upon its predecessor. And although innumerable amount of cryptocurrencies claim to be the next Ethereum and replace the Kings and Queens of the market, one coin that we have to explore is the XDC coin by the XDC network.
XinFin (eXchange inFinite)
The XinFin (eXchange InFinite), powered by the XDC network, adopts a Delegated Proof-of-Stake Consensus network (XDPoS), enabling Hybrid Relay Bridges so minimum energy is consumed, instant block finality for more speedy transactions and Interoperability to make XinFin’s Hybrid Architecture Developer friendly.
Other than this, there is also the smart contract technology which XinFin has taken from Ethereum. But they usually have to be done through oracles, which normally don’t give a positive result. Through the oracle platform Plugin that is based on ‘PLI’, the token created on XinFin’s XRC 20 standard to decrease the GAS fees, which gathers sources from multiple oracles which are consolidated to reach an exact value. This makes the smart contracts less problematic.
XinFin has also increased its ecosystem with coins such Ecoin, that has developed the first ever AI fraud detection system. In other words, a program that will result in easier crypto-onboarding and diminish the dangers of fraud.
Current Price Movement
The current value of XDC coin, at the time of writing of this article, is $0.0978 with a trading volume of $7.46 million. The XDC coin has had a really bad week with investors thinking that Ethereum smart contracts are the way of the future, with Ethereum 2.0 coming out soon and there being no need to invest in the “so-called” third generation. But over the past year, it did go $0.18 from $0.0059 and with a steady increase in its ecosystem and other developments, one can never be too sure where this David is going to end up.