Singapore-based blockchain company XinFin has officially unveiled its hybrid blockchain protocol, XDC, and opened the public token sale for its XDCE utility tokens. The XDC protocol is designed as the first hybrid architecture tailored for enterprise adoption in global trade and finance. XinFin previously raised over $1.5 million in a private sale during July and August 2017 to fund the development of the XDC protocol and its initial applications.
Hybrid Architecture: Balancing Compliance and Transparency
The XDC protocol is built on a fork of Quorum, the enterprise version of Ethereum. It employs a two-tier consensus mechanism: the first tier uses a variant of PBFT (Practical Byzantine Fault Tolerance) among nodes, while the second tier enforces a stake-based rule set to govern node participation. The network maintains both a private state and a public state — private state ensures sensitive financial data remains secure, while public state provides transparency and verifiability. This architecture grants the XDC protocol security, scalability, and lightning-fast speeds, while also making it highly interoperable with legacy systems and other blockchain platforms.
The XDC protocol is fully compatible with the Ethereum network and its smart contracts, yet its underlying fuel cost is negligible, making transactions extremely cost-efficient. An IoT layer over the XDC protocol enables real-time state changes to the blockchain. In compliant jurisdictions, the XDC protocol can support utility tokens to run on its network. It can function either as a pure messaging and confirmation layer using existing payment rails or as a settlement layer through approved and regulated institutions.
XDCE Utility Token: Gateway to the Ecosystem
XDCE is an ERC20 utility token hosted on the decentralized Ethereum ecosystem. Holders can access the XDC protocol and its subnetworks by operating XDC masternodes. The token sale is now live, with proceeds allocated to extending existing Proof-of-Concepts (PoCs) into sizable pilot projects with enterprises and institutions worldwide, as well as ecosystem development and network masternode proliferation.
“The major hurdles for mainstream adoption of the blockchain ecosystem are power-intensive mining processes, highly congested trust-less networks, security, and scalability,” said Alex Mathbeck, head of marketing at XinFin. “The XDC protocol is designed considering real-world applications in global trade and finance. It has also been engineered to ensure that enterprises working with the protocol can operate with full regulatory compliance.” Karan Bharadwaj, CTO of XinFin, added that the various tiers of XinFin masternodes allow participants to interact with the XDC protocol in a secure environment, offering flexibility whether as a messaging layer or a settlement layer.
First dApp: TradeFinex.org
TradeFinex.org is the first decentralized application built on the XDC protocol, now in beta environment. It serves as a smart contract user interface for global trade and finance, aimed at helping enterprises and policymakers minimize inefficiencies in the $27 trillion annual infrastructure and international trade market. The TradeFinex platform was inaugurated at the 2nd Global Summit on P2P Digital Asset System Summit held in India and is being extended to leading trade associations, financial institutions, and regulators worldwide.
XinFin has begun onboarding global alliances and developer communities to build disruptive applications on the XDC protocol, targeting improved business process efficiency. Interested parties can follow the project via Telegram or visit the official website for more details.