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XinFin Revolutionizes Global Commerce and Banking with Hybrid Blockchain

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Thu, 09/16/2021 - 12:07
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Arman Shirinyan
XinFin builds a blockchain that can be used by anyone
XinFin Revolutionizes Global Commerce and Banking with Hybrid Blockchain
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The replacement of centralized systems is one of the main goals of global blockchainization and decentralization. The main advantage of any decentralized system is the anonymity of the participant, which is almost impossible in a centralized ecosystem.

Within the ecosystem of almost any cryptocurrency, each member has a ledger with synchronized data. If the data or the ledger itself changes, the whole network will reject it and will not allow his/her transactions to go through.

Creating a hybrid blockchain

To create a balance between the anonymity of a decentralized network and the accessibility of a centralized system, XinFin, an EVM-compatible proof-of-stake (PoS) smart contract blockchain. Their decentralized hybrid blockchain has been developed to change global commerce and banking by utilizing transaction fees and smart contract functions.

One of the leading platforms charging from the front is XinFin, an EVM-compatible proof-of-stake (PoS) smart contract blockchain. It is a decentralized hybrid blockchain platform designed to revolutionize global commerce and banking. Staking is also available for XinFin's validator network participants.

The platform's smart contracts and physical settlement features allow businesses to interact with each other in global trade markets while paying small fees. The company thinks that it will speed up logistics between businesses functioning overseas.

Since the XDC Chain is EVM compatible, developers will be able to deploy their Ethereum smart contract with almost no changes at all.

Goplugin.co framework

The functioning of decentralized web3 APIs is backed by XDC Network nodes that share a common framework. The platform merges many oracle node data in a centralized manner; hence, the community is able to select data sources and give away rewards or punishments.

The decentralized Oracle Platform is offering low-cost solutions to any smart contracts functioning inside of the XinFin ecosystem. The Goplugin.co connects the smart contract to the real-time environment. Off-chain processors receive the feed from numerous providers and aggregate it.

Goplugin.co is now live on the Apothem Testnet and will soon be released on Mainnet. Developers will be able to build data oracles for decentralized apps by utilizing XDC Network. Currently, the next four blockchains are supported: Ether (Livenet), XDC (Livenet), Ether (Ropsten Testnet) and Apothem (XDC Testnet).

At press time, XinFin is trading at the price of $0.12 with $8.8 million in daily trading volume. According to CoinMarketCap, its last high of $0.19 was reached last month.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.