XDC, a native token of the hybrid blockchain XDC Network, grew 20% in the last 24 hours, becoming a top gainer in the crypto field on March 21.
Currently, XDC is the 80th largest crypto, according to CMC. As of writing, it’s exchanging hands at $0.042 with a market cap of $584 million.
The interest in XDC could be triggered by the XDC networking event held by its developers in Dubai on March 21. Moreover, XDC actively participated in ETH Dubai, which wrapped up last week.
What is XDC Network
The XDC Network, or XinFin Digital Contract, is a hybrid blockchain platform that combines public and private blockchains. It was created in 20217 and supports various use cases, particularly in trade finance, remittances, and decentralized finance (DeFi). The XDC Network aims to provide a secure, scalable, and efficient solution for enterprises, institutions, and developers to build and deploy smart contracts and other blockchain-based applications.
The XDC Network aims to facilitate a broad spectrum of innovative blockchain applications by providing cross-compatible smart contracts, ultra-low-cost transactions, and heightened security. XDC Network accommodates all smart contracts and protocols compatible with EVM and supports atomic cross-chain token transfers. Moreover, it adheres to the ISO-20022 message standard, which has applications in trade finance and various payment domains.
Developers interested in establishing their projects on the XDC Network can use the code-free token creation application, Origin, and software development toolkits to help build on the platform. As an EVM-compatible network, developers from other platforms can effortlessly develop or migrate their EVM-based projects. Regular users can explore XDC concepts through the free XDC Basics of Blockchain Workshops, which consist of two sections: Part 1 — Foundational Principles and Part 2 — Advanced Principles. Discussions concerning XDC’s progress actively occur on XDC.dev, a hub for blockchain developers. This platform is a comprehensive resource center for blockchain engineers, offering a knowledge repository, tools, and support.
The native cryptocurrency of the XDC Network is called XDC. It is used for transaction fees, staking, and as collateral for issuing digital assets on the platform. The network’s hybrid architecture allows for both permissioned and permissionless transactions, enabling greater flexibility and control for its users.