XDC NetworkXDC to IDR

New ways to use blockchain are being driven by the XDC Network, which provides safe, scalable, and efficient enterprise-grade blockchain technology. With its autonomous sub-network design, XDC Network can help businesses, financial institutions, and government bodies that need specific blockchain settings with more control and rights.

There were 312 possible XDC Network validator master nodes on April 25, 2024. Of these, 108 were operational while the others were standing by. Each person who runs a master node has to stake 10M XDC.

The testnet is running XDC 2.0, which is a change to the agreement process. Future versions of the XDC Network protocol will add a "judiciary branch" and make the agreement process safer.

The advanced compliance system for XDC 2.0 was created by Pramod Viswanath from Princeton University, Fisher Yu from Hash Laboratories, and his team. It will offer Byzantine fault tolerance (BFT) that is unmatched by any other system by holding validators accountable automatically but at the validator's choice.

Who Are the Founders of XDC Network?

In 2017, Ritesh Kakkad and Atul Khekade started the fintech company XinFin in Singapore to offer enterprise-level blockchain solutions for foreign business and banking. XinFin set up the XDC Network. 2019 marked the start of the XDC mainnet.

Kakkad has been an IT business owner and has years of experience with cloud computing. Khekade was the computer engineer at MonetaGo who built the first permissioned blockchain network for a group of big Asian banks.

Khekade and Kakkad hoped to make a blockchain that could be used by businesses to finance world trade. After working for SWIFT for more than 20 years, André Casterman is now in charge of the XDC Network. He encourages new ideas by guiding network uses that go beyond traditional banking.

What Makes XDC Unique?

Real World Assets (RWA) and Trade Finance are two fields where the XDC Network stands out because of its users. 

Together, big banks and non-bank financial groups make up the Trade Finance Distribution Initiative (TFDi). Their goal is to close the $5 trillion trade finance gap. The only blockchain that was picked to join was XDC Network. They were also asked to join the ITFA's Digital Negotiable Instruments Initiative. Tradeteq released the first NFT on the XDC Network that was based on trade finance at the end of 2021. The first U.S. Treasury coin for the XDC Network was USTY, which it got from Tradeteq and Securitize. It was first used in 2023 and stands for blockchain-based Treasury bond exchange-traded fund shares.

SBI Holdings and TradeFinex work together to find global business activities like trade financing and making global payments, which ensure a better future.