In the past and present times, cryptocurrency has seen a fast increase considering that bitcoin has attained $20,000 all through the year 2017, it has attracted big popularity and so many individuals, e-commerce and various organizations are adopting its usage. Everyone wants to get wealthy with this innovative unparalleled technology however the errors most adopters make is that their research in finding out about all pros and cons before kick-starting are incomplete and vague, most of the projects turn out to be a failure and they pour their failure on others.
Presently there are two types of exchanges that cut across the centralized that requires the assistant of intermediaries and the decentralized exchanges that do not need any form of intermediaries. The decentralized exchanges transactions are between two parties which are known as peer-2-peer. The centralized exchanges have many flaws such as high transaction fees, and it's not secured, transparent, it is controlled by third parties and it is bound to alteration of data. The decentralized exchanges are far richer, transparent, secured, inimitable, convenient, and do not incur high charges on users. It is immutable by any external body.
Most centralized exchanges require users to import their private keys or paraphrases which makes users more vulnerable to attacks in a total loss of funds. This is not applicable to the decentralized exchanges where users are in control of their digital assets. Unlike the centralized exchanges that users do not have control to their assets neither do they have instant access to their funds. The decentralized exchanges are blockchain oriented and innovated power-driven by smart contracts, all records are visible to the public and records are kept in secure ledger forever.
A virtual asset is any textual content or media which became configured right into a binary source with an introduced proper way of usage. Satoshi Nakamoto invented the very first virtual asset acknowledged to men referred to as bitcoin cryptocurrencies to utilize an encryption protocol that levers the era of devices and validates the transfer of virtual assets in a matter of seconds, not like the conventional banking which can take days on occasion months to complete transactions. Traditional banking charge techniques are confronted with various issues that do not exclude prolong transaction time, rate-again fraud among others.
INTRODUCING XINFIN HYBRID NETWORK
#xinfin is a hybrid platform built on a blockchain, this means it is immutable, unparalleled, transparent, secure, low cost, inimitable and user-friendly. It is a decentralized, hybrid, interoperable, and liquid platform that provides its user's data privacy, scalability, and throughput, secure and safe environment for all transactions.
It is a platform with Delegated Proof of Stake (DPoS), impacts the supremacy of the stakeholder, authorization voting to decide consensus issues in a nondiscriminatory and self-governing means. The Xinfin platform has the ability to host any private network, operates smart contracts, walk around wallets and also capable of cross-chain interoperability.
XDC TOKEN USE CASES
- Voting: Every consumer within the XDC token can participate in the course of vote casting processes, they could also vote for a qualified validator.
- Staking: Holders of XDC token are able to stake any share in their holdings, what s required of them is a deposit of XDC token along with the staking contract.
- Withdrawal: In a given time Xinfin customers can decide to withdraw their pre-deposited cash, and what is required of them is to inform the delegate to eliminate their votes.
- Delegating: Nominators are able to vote for any validator with the cash staked.
XDCE & XDC COIN
XDCE token is the number one coin at the xinfin ecosystem, it was minted on the ethereum blockchain network and it is ERC-20 compliant. It is the standard means of transactions across the Xinfin platform. The team contributors already have set protocols in location to preserve the call for, cost, and adoption of XDC.
The Xinfin network created two native tokens that will serve as the fuel of the platform, the XDCE token serves as a fee gateway for decentralized apps (DApps) developed for the community while the XDC token is an ERC20 compliant and the two native tokens can be swapped on AlphaEx on a ratio of 1:1.
ARTICLE PUBLISHED BY MICKEY OBERABOR