What Is XDC Network?

Dec 27, 2022
3 min read

This blog post will cover:

  • About XDC Network (XDC)
  • Where did XDC Network (XDC) come from?
  • What are the advantages of XDC Network (XDC)?
  • What are the disadvantages of XDC Network (XDC)?
  • How to buy XDC Network (XDC) on SimpleSwap?

About XDC Network (XDC)

The XDC Network is an open-source hybrid blockchain. It specializes in tokenization and is optimized for decentralized finance and international trade. XDC is the basic utility cryptocurrency of the XDC Network. The XDC coin is a settlement engine for DApps built on the XDC Network. This cryptocurrency helps small and medium-sized businesses or institutions create their own financial requirements in a digital, fully structured way. Thus such businesses can disseminate their needs to banks or non-bank sponsors using a common distribution standard.

Where did XDC Network (XDC) come from?

The XDC Network project was founded back in 2017 in Singapore.The XDC Network Foundation team is represented by people who have great experience and are known and respected in the crypto community. It includes Alan Lai, a blockchain engineer at the University of California, Berkeley; Ankit Patel who is a director and responsible for research and development; and Atul Khekade, one of the first investors with experience in ecosystem development. In addition, it includes Ritesh Kakkad, a renowned blockchain strategist, and Sameer Dharap, VP and blockchain application expert. Other members of the team are Emerson Sanfilippo, Meenu Sarin, Tadashi Yoshida, and Confidence Nyirenda.

What are the advantages of XDC Network (XDC)?

  • Hybrid network
    XDC Network is a network that provides hybrid relay bridges, instant block completeness, and ISO 20022 messaging standards compatibility, making this project convenient for hybrid architects.
  • Сonsortium blockchain paradigm
    This distinguishes XDC Network from both private and public blockchains. XDC Network offers both. In other words, institutions can connect their private network to XDC Network, but their transactions are verified on the public chain.
  • High transaction speed and low fees
    XDC Network transaction speed is over 2000 per second, while the commission does not exceed $0.00001.

What are the disadvantages of XDC Network (XDC)?

  • Not complete decentralization
    The XDC Network project aims to be completely decentralized, but this is also clear that their potential customers are tied to centralization.

How to buy XDC Network (XDC) on SimpleSwap?

Now you have learned more about the XDC Network and its XDC coin. If you want to purchase this cryptocurrency you are welcome to SimpleSwap. There is the instruction to do this:

  • For example, you want to swap BTC for XDC. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
  • Select XDC in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
  • Click the Exchange button.
  • Enter the Recipient's Address. XDC will be sent. Be careful and make sure you use the correct address.
  • Create the exchange.
  • You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to XDC exchange.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

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