Xinfin (XDCE) – Here’s What You Need To Know About This Unique Hybrid Blockchain
XinFin is a Singapore-based Blockchain Technology Company whose aim is to provide solutions tailored for international trade and finance. It gained a lot of interest at this year’s Consensus 2018 event in New York.
The XinFin platform has four solutions namely Tradefinex, Business Efficiency solutions, E-wallets and Remittance, as well as Private Sub-networks.
The XinFin Network
The XinFin XDC Protocol is a Hybrid blockchain that leverages the best features of two blockchains- Ethereum and Quorum. The protocol’s unique feature offers partial anonymity in that it allows its users to independently determine which transactions they prefer to make public and which ones should remain anonymous. Most of the users are government corporations and enterprise businesses around the globe.
XDC and XDCE
The network is powered by two tokens. There’s the XDC token and XDCE token. The XDC is an ERC20-based utility token which works on the Ethereum ecosystem. The XDCE token allows users to trade at regulated exchanges, benefitting from the token’s stability and thus shielding themselves from wild price swings.
XDCE is an ERC20 utility token that’s based on the decentralized Ethereum ecosystem. It helps global enterprises to access and interact with the XDC Protocol.
The company raised $1.5 million during their pre-ICO in July-August 2017, funds that were used to develop the platform. The XDCE utility token sale was launched on February 5, 2018, and ended on March 15, 2018, after the company reached its hard cap.
XinFin use cases
The XinFin network is a highly scalable platform that provides a secure and permissioned commercial grade Hybrid blockchain. It aims at facilitating peer-to-peer transactions in the trade and finance industry.
Furthermore, the network allows the creation and deployment of smart contracts and dApps between governments, business enterprises, and other financial institutions, and between buyers and suppliers.
According to XinFin.io, “XinFin-Hybrid Blockchain will provide more flexibility, faster transaction time, security, auditability and simplicity features as compared to any other popular blockchain network.”
One of the top partnerships XinFin signed was with Bancor. The integration with Bancor enables the platform to provide continuous liquidity for its users.
By integrating the Bancor Protocol, XinFin enables its token holders to gain access to continuous liquidity regardless of trade volume or exchange listings.
The users can automatically convert their tokens to any other token. This can be done directly from a Web3 wallet, including MetaMask. At the moment, tokens like ETH, BNT, GNO (Gnosis), and STX (Stox) can be exchanged and converted against the XDCE.
Another of the partnerships is the one agreed with Ramco. Ramco Systems, which is part of a $1 Billion conglomerate, will use the XinFin platform to build Blockchain solutions for more than 500 of its clients. These clients are from lucrative sectors like Aviation, Supply chain, Logistics, trade, and Human resources.
Other partnerships include the recent deal with OMFI- as an official technology partner and to ensure blockchain integration by members of the consortium. There’s also KoinOK, which allows investors in India to buy and sell XDCE tokens using the local fiat.
There’s also the AlphaEx platform which allows for a quick, private, and seamless exchange of cryptocurrency. There are several other partnerships in the pipeline that make XinFin such an exciting prospect.
XinFin and working with world governments
There’s one hurdle that faces governments all over the world- burdensome loans. Now XinFin has teamed up with world governments to enable them leverage blockchain for crowdfunding. It helps save governments millions in unwanted debt. XinFin says that any government is able to use its smart contracts to raise funds and channel them towards financing projects.
In 2017, XinFin undertook an awareness drive in Africa and launched a number of IoT projects in collaboration with governments.
TradeFinex and other exchanges
XinFin launched on the TradeFinex trading platform at the Digital Asset summit. It was organized by one of Asia’s largest trade and commerce bodies—Assocham. The benefit is that it allowed XinFin to access over 450k participating enterprise members. XDCE token is currently available for trading on a number of exchanges that include TOPBTC, Bancor Network, Coss.io, IDEX, and Mercatox. With the major exchanges yet to list XDCE, the value of this crypto could yet skyrocket in Q2 or Q3.
Developments on the XDC protocol
XinFin has had a pretty busy 2018 with several technological and fundamental developments. Their roadmap indicates that the team has plans to release its cold wallet storage. Apart from that, they will deploy private sub-networks targeted toward enterprise clients. One other thing is the push to have an achievement of AML/KYC compliance- which means that they are regulatory-compliant.
XinFin XDCE market
The token is currently ranked at 319 on CoinMarketCap, quickly climbing up the charts in a very short time. it has a market cap of $22,989,856 and a daily volume of $672,086. In terms of price, XDCE currently trades at $0.00628 against the USD and is attractive enough for any would-be investor.