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The beta release of XDPoS 2.0, a unique consensus engine created especially for XDC, has been announced by the HashLabs team with great excitement. As indicated by the full year of beta testing which is necessary before the new protocol is scheduled to be introduced in the first quarter of 2023.
The new upgraded version features are Modern Byzantine security safe even if one-third of the master nodes go rouge. only three blocks to complete a transaction due to its lightning-fast final approval. It will Integrated forensic monitoring ensures that attackers will leave behind evidence. An easy transition from 1.0 to 2.0, straightforward deployment, and no need to alter accounts, wallets, or Dapps.
XDC foundation stated that:
We … are challenged to create a psychological on-ramp for institutions … reinforced by a promise of security, transparency, reduced counter-party risk, and cost-efficiency. Opportunely, these are all advantages inherent to the XDC Network.
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XDC Network’s Reason For the Updation
The XDPoS 2.0 is actually a significant advancement and is by far the most complex upgrade since the XDC Network's beginnings. XDPoS 2.0 will continue to be tested up until the beginning of 2023 to make sure the upgrade functions as intended.
The XDC Network is a longest-chain network that uses a combination of delegated proof of stake and proof of work to protect the network and achieve quick verification utilizing its current XDPoS 1.0 protocol. A hostile takeover is already extremely difficult to carry out since it would require widespread collusion among the holders of validator nodes.
Each of these holders has a financial interest in the network's success because they each own at least 10 million XDC and receive an annual payout of a part of that amount for confirming transactions. Additionally, node operators are dispersed globally and decentralized, and they must go through a know your customer (KYC) process. One can never be too secure, though.
To that end of the upgrade, XDPoS 2.0 will undergo intense inspections before it is prepared for mainnet deployment the following year. All upgrades will undergo in-depth testing on test-net and dev-net and there will be pressure testing and simulated assaults. Any discussion on development can be taken to Xdc.dev, which is a blockchain developer resource forum. It serves as a key hub for blockchain developers, including a knowledge base, tools, and assistance.
Arman Shirinyan
Alex Dovbnya
Dan Burgin