Key Use Cases for XinFin Hybrid Blockchain

  • XinFin Blockchain: Background and Use Cases
  • StorX Decentralized Cloud Storage
  • Plugin, a Decentralized Oracle Network
  • Decentralized Email on XinFin Blockchain network by ledgermail.io
  • Decentralized naming system by Butterfly Protocol
  • WadzPay: Cross Border Remittance
  • Tradeteq: Non-Fungible Tokens for trade finance
  • Globiance: Stablecoins or Fiat backed Token
  • Yodaplus: Multi sign custody for the institution
  • A Breadth of Emerging Use Cases for XinFin

XinFin Blockchain: Background and Use Cases

While Bitcoin’s innovative decentralized network and cryptocurrency was a groundbreaking achievement, XinFin has expanded on its predecessor’s vision of a decentralized payments system building a global computer network that links users to a marketplace of decentralized applications (dApps) offering unprecedented efficiency, security, and user control. Through its ground-breaking combination of features like smart contracts, XinFin is used for a variety of innovative applications in finance, web browsing, advertising, identity management, and supply chain management.

StorX a Distributed Cloud Storage Powered by XinFin Blockchain Network

Plugin, a Decentralized Oracle Network Powered by XinFin Blockchain Network

Plugin, a decentralized oracle platform, provides cost-effective solutions for any smart contract on the XinFin ecosystem. The plugin collects data from different external sources, consolidates, and makes sure the correct value is provided to its users at any point in time. This is the most crucial part for any decentralized oracle provider that is highly trusted by all its users.

LedgerMail a Decentralized Email on XinFin network

Decentralized naming system (butterfly)

Butterfly Protocol is a decentralized autonomous organization (DAO) that aims to replace the Domain Name System (DNS) system and change the economics of domain ownership.

WadzPay: Cross Border Remittance

Tradeteq: Non-Fungible Tokens for trade finance

Non-fungible tokens (NFTs) are unique, indivisible, and provably scarce digital assets that are useful in gaming, art, and ensuring the provenance of luxury goods. The hype over NFTs began in late 2017 with the launch of CryptoKitties’ digital cat collectibles, but since then, the applications for the technology have grown rapidly. NFTs have attracted an increasingly mainstream audience to cryptocurrency and blockchain technology.

Stablecoins on XinFin Network build by Globiance

Stablecoins are cryptocurrency tokens pegged to another asset, typically a fiat currency. For example, there are stablecoins backed by fiat currencies like the U.S. dollar and commodities like gold, while other stablecoins maintain their value algorithmically. Additionally, some stablecoins are backed by a balanced basket of major cryptocurrencies. Stablecoins are used as a reliable store of value in the cryptocurrency ecosystem, a hedge against price volatility for crypto traders, and as a stable, global currency for people whose local fiat currency is devalued due to economic or political instability. Today, many crypto exchanges have their own stablecoins.

Yodaplus: Multisig custody wallet for the institution,

A Yodaplus multisig wallet is a wallet shared by two or more users called copayers. Depending on the kind of wallet, the number of signatures required to sign a transaction will be lower or equal to the number of copayers of the wallet.

  • All the copayers can see the funds and transactions of the wallet.
  • Requires one or more copayers to sign a transaction to send funds from the wallet. This feature adds security to your funds.
  • A unique recovery phrase for each of the copayers who share the wallet. However, if one of the copayers’ recovery phrases is lost, there may no longer be enough copayers to sign transactions. Without enough copayers to sign transactions, you will not be able to spend the wallet’s funds.

A Breadth of Emerging Use Cases for XinFin

There are myriad sectors in which XinFin is providing utility and creating value. Industries from cloud storage to Decentralized Email Solutions to Oracle are creating novel tools on the protocol to enhance efficiency, trust, and democratize access to various types of services.

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