What is XinFin Network? The Complete XinFin Network Review.

If you are looking for a complete XinFin Hybrid Blockchain review and you want to learn more about XinFin, this guide is for you.

we will show you how it works, what we use it for and what the future looks like for the network and its primary asset, XDC

I will also look at the use cases and long-term potential of the XDC tokens

So read this XinFin Hybrid Blockchain review carefully.

What is XinFin Hybrid Blockchain?

XinFin Hybrid Blockchain is a decentralized blockchain project. It aims to solve the scalability issues that many blockchains have.

It does this by increasing TPS (Transactions per Second).

Unfortunately, even major blockchain projects like Ethereum can only process 15 transactions per second. Compare that with Visa or Mastercard, where up to 6,000 transactions per second are doable.

XinFin aims to solve interoperability issues, and attempts to solve the known scalability issues with the Ethereum blockchain.

Scalability includes network congestion, long wait time for transaction validation, and the high transaction fees that come along with these issues.

Interoperability refers to the ability of Ethereum to link with other blockchains to provide cross-chain interaction.

These are crucial because blockchains should work at scale to realize the disruptive potential, and they need to have a way to work together. One of the major functions of blockchains is the way they move and record funds between accounts.

XinFin is seeking to solve the scalability problem through sharding solutions. That has led to a XinFin blockchain that provides up to 2,000+ transactions per second, 2-second transaction times, and low transaction fees for users.

XinFin Hybrid Blockchain can be used to build decentralized applications (DApp), and to serve other popular blockchain use cases such as decentralized value transactions.

The consensus mechanism of XinFin Hybrid Blockchain is XinFin Delegated Proof of Stake (XDPoS)

The XinFin Hybrid Blockchain Mainnet

XinFin Hybrid Blockchain released its mainnet in June 2019 After that, they moved to an independent chain.

The switch to masternodes made XDC a mintable currency rather than a minable currency.

They use the masternodes to create and verify blocks and they compensate for doing so by minting XDC. Currently, there are 108 masternode.

The XDC fees are just 1% of those charged for Ethereum transactions, and the XinFin Network has 2-second transactions versus 15-second transactions for Ethereum.

Additionally, XinFin Network has already reached 2,000 transactions per second and Ethereum only processes 15 transactions per second currently.

How does the XinFin network work?

The XinFin network uses something called an XDPoS consensus mechanism to secure and run the network. XinFin uses Staking, unlike Bitcoin that uses miners to reach consensus.

Staking is similar to mining, but it does not need any hardware.

All you have to do is staking your XDC tokens online, by running a masternode, and then you receive a reward for securing the XinFin Network.

Stakeholders of the network secure the network by validating transactions automatically. This ensures total decentralization and a healthy network state.

Therefore, if you own any, you should definitely stake. This is not only for personal gains but also for increasing the security of the network.

Does XinFin Network use Sharding?

Sharding is a popular theory-based application of blockchain technology. Sharding solves the scalability issues.

XinFin Network uses sharding in its XDPoS consensus mechanism to validate transactions in a faster manner. In addition to this, XinFin uses double validation to ensure higher levels of network security.

XinFin Network Use Cases

Most people know what blockchain is, but they wonder how to use it in day-to-day lives. If I want to answer honestly, it does not have any uses now.

Projects like XinFin Network are building the infrastructure for the future.

Nevertheless, we can still look at ways of using the XinFin Network in the coming years. So, how can we use XinFin Network in the future?

The designed XinFin network to facilitate, and fulfill the main blockchain use cases that include processing decentralized actions (Smart Contracts), and facilitating immutable transactions.

It is important to note that these use cases can apply to many different industries, and therefore are extensive.

I believe that XinFin Network will be useful in many ways, including the medical and financial sectors, where there is little room for error.

XDC and XDCE Token

One of the most common misunderstandings in the cryptocurrency industry is the mislabeling of the network and the corresponding main network token

To clarify; XDCE is an ERC-20 token and XDC is the native coin of XinFin Hybrid Blockchain, XDC token helps to run the network by providing a standard value for the chain.

The XDC token plays the key role within the XinFin Network ecosystem It acts as a requirement for participating in the network both through masternodes.

This is a great sign for investors and traders as it lowers the risk of getting involved.

XDCE is initially an ERC20 token but they can be swapped at Alphaex Exchange from XDCE to XDC which is 1:1 ratio.

XinFin Block Explorer

You can access the official XinFin block explorer at https://explorer.xinfin.network Here, you can check transactions, balances and see the burnt XDC.

XinFin Network TPS (Transactions Per Second)

One of the XinFin network’s main USPs is solving the scalability issues that other blockchains have.

It means they can complete more transactions per second (TPS) which ensures greater scalability. Now let us look at the figures and see if they have achieved this claim.

XinFin network claims that the XDPoS network can operate at “at least 2K TPS”. To put this in perspective, VISA completes around 2K TPS on a centralized system.

So if this is true and the XinFin network can run at 2000 TPS, it will be one of the fastest blockchains in the world. Consider that Bitcoin runs at around 5 TPS.

XinFin Wallets

If you own some XDC tokens, you need somewhere to store them securely.

The main things I look for in a good cryptocurrency wallet are security, usability, and having backups. So XinFin has both a web wallet and mobile wallet to keep your tokens super safe.

Is there a XinFin testnet?

Many cryptocurrencies have something called a “Testnet”. Testnet allows you to try the network without having to use real tokens. This way, you can get a grasp of how to do things with no risk.

You can use a testnet to practice using the wallet, and other actions on the XinFin Network.

To use the XinFin Testnet visit:- https://apothem.network

In this testnet, you can generate some testnet tokens and then send them to a testnet web wallet or mobile wallet

Are there any XinFin Mining Pools?

Mining pools are ways of taking part in a blockchain network without having to own or use the hardware requirements.

XinFin does not have any mining, therefore they cannot really be called mining pools.XinFin uses Proof of Stake to validate transactions. For this reason, there are not any XinFin mining pools.

XinFin Masternodes

There is another way to earn a passive income from securing the XinFin network too. This way is with something called masternodes.

A masternode is a computer that verifies transactions on the network and they get a percentage of XDC for doing this.

XinFin network has a 108 masternode that secures the network.

The requirements to run a XinFin Masternode are:-

• Dedicated Static IP,
• 99.9% Uptime.
• 10 million XDC

Now you are probably wondering how you can start running a XinFin masternode

It is actually simple if you use the right tools. You will just have to buy an Indsoft package of masternode and all the setup and maintenance will be done by the indsoft system you will just have to propose for masternode.

more About XinFin masternode

Masternodes are an important part of the XinFin network ecosystem. Simply put, they are servers contributing computing power to the network to sign blocks. The masternode receives XDC as a reward for performing this service.

XinFin uses a maximum of 108 masternodes. These 108 masternodes use XDPoS to reach consensus. Running a XinFin masternode has a number of requirements:

1. To become a masternode candidate you must first deposit 10 million XDC,. Candidates can resign, but the XDC remains locked for 1,296,000 blocks (30 days) after the resignation.

2. If chosen as a masternode you receive XDC rewards in proportion to the number of signed blocks.

Owning a masternode not only guarantees rewards from the XinFin network but it is also the best way to support the network.

XDPoS feature is unique to the XinFin network and sets the project apart. It not only allows the blockchain to function as EVM-compatible, but also allows for the nearly instant transaction times, and for the entire masternode architecture.

XinFin network Governance

Governance is a big deal for decentralized networks. There are many different approaches to make it work.

Some have claimed that a masternode network is the best way to govern a blockchain network.

This goes counter to the popular Proof-of-Work consensus mechanism that rewards those who have the rawest computing power, leading to centralized mining cartels and monopolies.

The decentralized nature of the masternode architecture allows everyone to benefit from being part of the network, not just those who are able to afford powerful hardware.

The XinFin network evolves quickly, and moves fast and fluid, just like the blockchain itself.

In the PoW system, miners invest in hardware and are separate from the network, because they can switch mining to any PoW coin they like.

In the XinFin network, they invest masternodes in the tokens. This makes them an inseparable part of the network.

Communities

As with any crypto token, XinFin has a wide array of online locations where you can discuss the project with other investors, enthusiasts, and traders. These communities can also be a great way of getting in touch with the project’s team.

They are extremely active in these groups. You often can expect to take part in an AMA (Ask Me Anything) in the chats. In these AMAs, you can ask any questions from the team. Here are

XinFin communities:

• XinFin Telegram
• XinFin Medium
• XinFinTwitter

XinFin Development

The amount of work a team is doing on their protocol and technology speaks a lot about the state of that project.

One of the best ways to decide that is to look at their public code repositories. This can give you a direct indication of code commits and hence the development

This is more activity than most other projects that are at a similar stage in their development. Perhaps this rapid pace of development will make sense when viewed in the context of the broader project roadmap.

Is XinFin a good investment?

You should always investigate before investing in any cryptocurrency, and understand the risks involved.

Start with reading this XinFin review thoroughly. Visit website https://xinfin.org for more information

In my opinion, XinFin has a demand within the market and a large array of token use cases that are vital for the network’s success.

In addition, the passive income from XDC by running a masternode makes it a very attractive investment for many.

Conclusion

XinFin had a successful run so far, and the mainnet launch was both successful and impressive. The team seems to have a clear vision and direction.

The recovery in the value of the XDC token is also impressive when you consider that the 2019 rally so far has been primarily a Bitcoin rally, and many altcoins have struggled to keep up.

That recovery has also come without XDC listed on any of the top exchanges. Here is the list of exchanges : https://XinFin.io

The real success of this blockchain will be when they implement sharding. If they can accomplish it quickly, they can easily put themselves in the forefront of the blockchain revolution.