Current XDC Network Price and Market Overview
The XDC Network, previously known as the XinFin Network, is a cutting-edge, enterprise-grade blockchain platform that seamlessly integrates with Ethereum Virtual Machine (EVM). This blockchain boasts compatibility with smart contracts across various blockchains, making it a versatile and powerful tool for developers and businesses alike.
Key Features of the XDC Network
The XDC Network is a sophisticated and highly optimized fork of Ethereum, primarily utilizing a delegated proof-of-stake (dPoS) mechanism for consensus. This innovative approach enables transactions to be processed in under two seconds, accompanied by negligible gas fees. Additionally, the network is capable of handling over 2,000 transactions per second (TPS), setting a new standard for efficiency in blockchain technology.
Advertisement Banner
Energy Efficiency and Security Measures
Despite the minimal energy consumption of the proof-of-stake consensus mechanism, validators are required to perform a minor proof-of-work (PoW) when proposing a new block. This requirement significantly reduces the risk of spam attacks, thereby maintaining the network’s integrity and security.
The Role of XDC in the Network
Within the XDC Network, the native token, XDC, serves as the essential fuel for facilitating transactions and executing smart contracts. To contribute to the network’s security, users must stake their XDC tokens to operate validators and participate in block production, ensuring a secure and robust blockchain ecosystem.
Future Enhancements and Innovations
Upcoming updates to the XDC Network promise to further enhance the security of its consensus mechanism. A notable feature in development is the introduction of a “judiciary branch” within the consensus process. This innovation, spearheaded by esteemed advisors Pramod Viswanath of Princeton University and Fisher Yu of Hash Laboratories, aims to achieve unparalleled Byzantine fault tolerance (BFT). By automatically holding validators accountable for their actions, this technology will ensure a secure yet adaptable network environment.
For those interested in the future prospects of the XDC Network and its potential price movements, consider downloading the leading cryptocurrency app, CoinGabbar, to stay informed and make data-driven investment decisions.
Also read:
STAKE Stake Price USD
“`
This version of the content has been restructured with appropriate HTML headings, enriched with keywords, and expanded with additional information to improve SEO and readability.
