Overview on Distributed Applications of XinFin Hybrid Blockchain
Overview of XinFin products and the ecosystem is the XinFin Hybrid Blockchain, blockchain with its innovative XDPoS consensus.
The backbone of XinFin products and the ecosystem is the XinFin Hybrid Blockchain blockchain with its innovative XDPoS consensus. To facilitate interactions between users and masternode owners and the XinFin XDPoS blockchain, a set of tools has been built, including XinFin Scan, Master-node app, XinFin Web Wallet, XinFin mobile wallet These tools will be continuously improved in our long-term plans. Furthermore, more highly innovative products and technologies will be intensively developed and researched to make XinFin become an ideal platform for open finance and enterprise-oriented applications.
A small detail about XinFin (XDPoS)
At the heart of XinFin Hybrid Blockchain, the XinFin XDPoS consensus enables it as an EVM-compatible and scalable public blockchain, on which every Ethereum smart contract can be effectively run with almost instant transaction confirmation. Masternodes create blocks in a round-robin and double validation Masternodes finalizing blocks are incentivized
Thousands of TPS Massive acceleration of blockchain performance is one of the most important key features of the XinFin Network. With our proposed XDPoS consensus protocol, XinFin Network provides At least 2k TPS while still enhancing security through Double Validation 2-second block-time and transaction confirmed within almost 4-second Significantly improvement of user experiences and adoption of blockchain TPS dramatically increased once sharding is enabled.
Double validation provides an additional trustless validation layer for security enhancement through a provable uniform distribution decentralized randomization. Specifically, when a block is created by a masternode, it must be verified by another masternode that is randomly selected among the set of masternodes before being added to the blockchain. Double validation strengthens XinFin, XDPoS security, reduces fork and nothing-at-stake attacks, and makes XinFin Hybrid blockchain unique among other Delegated Proof-of-Stake-based blockchains.
Tools And Dapps used for XinFin Hybrid Blockchain XDPoS
- XinFin XDPoS:-XDPoS is the backbone public blockchain of the XinFin Hybrid blockchain product map. For more details about XDPoS Please visit https://howto.xinfin.org/
- XinFin Master-node app:-The Governance dApp XinFin Master, provides a professional UI that allows seeing the list of masternodes and candidates, to deposit 10 million xdc to become a masternode candidate, to see the KYC for masternodes, and to show masternode performance statistics.
- XinFin Web wallet:- XinFin web Wallet is the official web wallet for XinFin Hybrid Blockchain, aiming to store the XDC native coin and XRC-21 tokens issued on XinFin Network. XinFin Web Wallet also allows the user to track their rewards. For more details please refer to this medium article:- https://medium.com/xinfin/all-new-interface-of-xinfin-web-wallet-is-officially-announced-9621cd875174
- XinFin Mobile wallet:- XinFin mobile wallet is the official mobile wallet for XinFin Hybrid Blockchain, Allows user to store xdc & xdce under one private key so that user can store their keys easily. For more details please refer to this medium article:-https://medium.com/xinfin/xinfin-releases-xdc-wallet-users-can-now-store-their-xdc-and-xdce-tokens-in-one-wallet-f0d09cd73892
- XinFin Remix:- XinFin Remix is a web browser-based Integrated Development Environment (IDE) that allows users to write Solidity smart contracts and compile, deploy and run those smart contracts on XinFin Blockchain Network. For more details please refer to this medium article:-https://medium.com/xinfin/xinfin-remix-develop-smart-contracts-for-the-xinfin-blockchain-b3c330727528
- XinPay:- XinPay is a self-hosted wallet to store, send and receive XDC and XRC-21. It allows you to control your funds as it is an HD wallet that provides a mnemonic phrase that you can keep as a backup. And it is a bridge that allows you to visit the distributed web of tomorrow in your browser today. It allows you to run XinFin dApps right in your browser without running a full XinFin node. For more details please check out the video & medium article https://youtu.be/QUi2_kfv1Ko https://medium.com/xinfin/get-started-with-xinpay-crypto-asset-bbd817e1ed46
- XinFinScan:- XinFinScan provides a user-friendly, details and perfection-oriented user interface for XinFin Hybrid blockchain block explorer. From a user perspective, XinFinScan brings XinFin XDPoS transparency to users, because all block, transaction, finality, smart contracts, dApp, and token information are read from TomoChain and shown to users. For more details please visit:-https://howto.xinfin.org/xinfinexp/features/
- One-Click Installer:- One-Click installer is the easiest way to set up masternode on XinFin Network. Where a non-technical people can easily set up masternode with just one click. Supporting os are windows, ubuntu & mac for more details please check out the video and medium article:- https://www.youtube.com/watch?v=PCpwoK9A6_A https://medium.com/xinfin/host-xinfin-masternode-with-one-click-installer-on-macos-5c180e11062d https://medium.com/xinfin/xinfin-network-presents-one-click-installer-for-blockchain-node-setup-6ab2dce6ddc0
The XDC token is the underlying utility token that powers XinFin’s Hybrid Blockchain XDPoS network. The XDC token acts as a settlement mechanism for DApps built on the XinFin Hybrid Blockchain. use cases built around XinFin’s XDC utility token are MyContract, TradeFinex, Kramaa, Land Registry, inFactor, TurantPay, and Blockdegree.
1. MyContract
MyContract is a WebApp that allows users to create smart contracts for issuing tokens to crowd sale or asset tokenization without a need for any programming expertise, just in a few clicks MyContract.co initially allows contract creation on XinFin Hybrid blockchain with any of the XRC-21 standards for issuing or tokenizing an array of asset classes: fungible cryptocurrencies and tradable assets. Users can create their token in a few minutes by just providing token basic details, such as token name, token symbol, token decimals, total supply, and token sale limit, in an easy to grasp environment.
After providing all the details of the token created, and buying the package — payable in XDCE tokens or PayPal the users can easily get the code of their brand new token. And add their token on the XinFin web wallet or mobile wallet.
For more details, please visit this medium article https://medium.com/xinfin/a-step-by-step-guide-to-issue-your-own-token-on-xinfin-network-in-a-few-minutes-b03aeae3be69 or check out this video https://youtu.be/7iI0ul9ehdc
2. Tradefinex
Powered by XDC protocol, the TradeFinex platform enables peer-to-peer transactions between financiers, suppliers, and beneficiaries. A conceptualized marketplace platform, TradeFinex connects global participants of the trade and finance and enables them for global contracting, financing, payments and settlements. TradeFinex platform is for individuals, governments, regulators, financial institutions, corporates and others who regularly engage in trade and finance and look for new means of low-cost financing to complement traditional finance. Through this platform, beneficiaries can raise money literally from any part of the world.
XinFin is leveraging the power of TradeFinex, its decentralized enterprise-grade hybrid blockchain-enabled trade, and finance platform. Offering the benefits of immutability, security, and peer-to-peer settlements features of XDC protocol, XinFin’s TradeFinex platform would help bridge the $15 trillion global infrastructure gap.
TradeFinex-An Open API based platform for trade finance
Enterprises, governments, institutions can use TradeFinex, an Open API based platform; as a tool for fulfilling their trade finance needs. Due to the massive response from various ecosystems and fintech partners worldwide, TradeFinex is now evolving into an Open API platform with which many businesses, Fintechs, Rural Bodies, ERP Systems can connect to.
XinFin successfully demonstrated the financing of a solar plant using a blockchain-powered TradeFinex platform as a tool. The simulation involved digitizing and representing a solar plant on the blockchain and demonstrated that any projects including those of national infrastructure importance can be financed peer to peer without burdening the treasury. Demand for cross-border finance can be met by greater cooperation between governments and Blockchain capital by the creation of new models of investment and financing.
For more details, you can check this medium article https://medium.com/xinfin/tradefinex-on-xinfin-hybrid-blockchain-enables-unbanked-population-with-peer-to-peer-cross-trade-e5139ad85cfa
Or can check out the video https://youtu.be/TUiYU_6EuPo https://youtu.be/M7W16RPfSE4 https://youtu.be/krqBx0yGprE
3. Kramaa
Kramaa is a Singapore based technology company converging latest technologies in the blockchain, IoT, and analytics. The Company has created a blockchain-based application (“The platform”) for IoT identities linked to physical assets on XinFin’s proven hybrid blockchain architecture. The platform securely integrates physical assets & IoT devices through blockchain, smart contracts & firmware for creating the digital identity, provenance, authentication, e-commerce, supply chain, and finance. Industry applications for the platform include smart cities, pharma, packaging, logistics, fashion/luxury, food & beverages, precious metals & jewelry.
Kramaa offers an open API to build applications leveraging the registry platform industry Pharmaceuticals, Smart City, Art, and Collectibles, Fashion and Luxury, Food & Beverages, Logistics Use Cases Digital Identity, Authentication, Track and Trace, Anti- Counterfeit, Tokenization and Automation
For more details please check this out https://bitcointalk.org/index.php?topic=1989818.0
4. Land Registry
XinFin has conceptualized end-to-end land registry record management solutions using Blockchain technology. XinFin’s objective is to access, verify and transfer ownership pertaining to land records in real-time to reduce inefficiency in the current manual process.
XinFin is currently working with regulated financial institutions and the government on developing land record solutions. Our smart contract integration helps combat fraud prevention and with our digital online database makes access, verification, and transfer of title ownership effortless. With our easy-to-use web-app based workflow, XinFin is building a seamless ecosystem of participants, banks and authorities for land registry record management.
For more details, you can check medium article https://medium.com/xinfin/xinfin-presents-blockchain-proof-of-concept-for-land-registry-to-maharashtra-government-bb1100382f24
5. inFactor
InFactor is an online invoice factoring platform where businesses/suppliers can factor their unpaid invoices. InFactor aims to improve security and remove operational inefficiencies in the invoice factoring process by using technology advancements such as blockchain and smart contracts.
InFactor places the Supplier, Buyer, and Financer on the same platform allowing visibility and real-time communication between all parties. In order to factor an invoice, the Supplier will upload their invoice details on the platform which the Buyer must verify. Approved invoices are then visible to all the Financers registered on the platform. Financers can send factoring proposals to any verified invoice they choose. Suppliers can then choose to accept any proposal submitted by a Financer. All Users are provided with a built-in XDC wallet with ERC20 standards. Discounting logic is prebuilt in the smart contract which automatically calculates interest, prepayment and post-payment amounts based on the factoring terms.
For more details, you can check this medium article https://medium.com/xinfin/xinfin-presenting-infactor-io-to-bpifrance-french-public-investment-bank-in-singapore-2f99ce94d5f1
6. TurantPay
TurantPay facilitates standardized remittance over XDC Protocol that provides counterparty risk mitigation, instant payments using existing payment channels such as SWIFT.
There are higher fees, locked deposits and a complete lack of visibility which damages trust between clients and payment service providers. TurantPay is a great solution that has significantly lower processing fees. TurantPay also maintains complete visibility throughout the life cycle of the payment. TurantPay also eliminates batch processing, which means payment service providers and institutions enjoy quicker processing as well as instant settlements, therefore, improving client satisfaction.
7. Blockdegree
Blockdegree exists to create awareness of XinFin’s platforms. Blockdegree provides online blockchain training to engineers and professionals. These engineers and professionals can avail of basic and advanced courses from Blockdegree and start development around our platforms.
The Academy intends to make engineers’ paths easier by providing them knowledge about XinFin’s XDC01 Protocol, XinFin Hybrid Blockchain Technology, XinFin Use Cases and the technology used to build these use cases under one umbrella. Blockdegree will also provide Verified Certifications to developers around Blockchain Technology, Ethereum and XDC01 Protocol.
For more details please visit the medium article https://medium.com/blockdegree/blockdegree-implemented-payment-and-auto-burn-of-xdc-xdce-62db816a9fee
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