XinFin Wallet

XinFin Hybrid Blockchain is a decentralized blockchain project that attempts to resolve scalability issues by increasing the number of transactions per second.

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XinFin (XDC) Online Wallet, App for Desktop and Mobile | Guarda

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What is XDC Network?

Large blockchains like Ethereum can only handle 15 transactions per second. Visa or Mastercard using Swift technologies can accommodate up to 6,000 transactions per second. XinFin aims to solve interoperability and scalability problems with the Ethereum blockchain, including network congestion, lengthy wait time for transaction validation, and high transaction fees.

Interoperability refers to the ability of Ethereum to connect with other blockchains in order to have cross-chain interaction. Blockchains need to have a way to work together to realize their potential. XinFin is striving to solve the scalability problem by using sharding technology. XinFin blockchain provides up to 2,000+ transactions per second, 2-second transaction times, and low transaction fees. XinFin Hybrid Blockchain can be used to create decentralized applications (DApp), and support other common blockchain use cases such as decentralized value transactions. XinFin uses the consensus mechanism called XinFin Delegated Proof of Stake (XDPoS).

XDC

in June 2019, XinFin Hybrid Blockchain launched its mainnet and switched to an independent chain. The move to masternodes has made XDC a mintable currency rather than a minable currency. Masternodes used to build and validate blocks and they compensate for this by minting XDC. The XDC fees are just 1% of those paid for Ethereum transactions, and the XinFin Network has 2-second transactions relative to 15-second transactions for Ethereum.

How does it work?

The XinFin network uses XDPoS consensus mechanism to protect and maintain the network. Unlike Bitcoin which uses mining to reach consensus, XinFin uses staking that does not require any hardware. All you need to do is staking your XDC tokens by running a masternode, and then you get a reward for securing the XinFin Network. Stakeholders protect the network by validating transactions and this guarantees complete decentralization and stable network status.

Sharding

Sharding is a common technically-based application of blockchain technology that also solves the scalability issues. In its XDPoS consensus mechanism, XinFin Network uses sharding to verify transactions and finally uses dual validation to ensure higher standards of network security and stability.

XinFin Network Use Cases

XinFin Network is trying to develop the ecosystem for the future. It was designed to enable, and satisfy the key blockchain use cases including processing decentralized actions (Smart Contracts), and the facilitation of immutable transactions. These use cases can apply to a variety of different industries including the medical and financial sectors.

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XinFin Masternodes

There is a way to earn a passive income maintaining the XinFin network. A masternode is a computer that verifies transactions on the network and gets rewards in XDC. The requirements to run a XinFin Masternode are: Dedicated Static IP, 99.9% Uptime, and 10 million XDC. To start running a XinFin masternode, the user only need to purchase an Indsoft masternode kit and all configuration and maintenance will be handled by the system.

FAQ

1. What is the best XDC Network wallet?

Guarda is one of the best wallets according to Investopedia.com and Hackernoon.com for XDC Network. Guarda is a non-custodial wallet that supports more than 400K+ assets. Use an online wallet right in your browser or download a web/mobile version.


2. How do I get an XDC Network wallet?

You can download the application from the Apple AppStore, or Google Play, or install a desktop wallet. You can also use an online wallet. Create an account on Guarda; Set a strong password and save your wallet backup; Create a wallet and add your XDC.


3. How to get an XDC wallet for Android or iOS?

Download Guarda from AppStore or Google Play; Create an account on your Guarda Wallet; Tap the “Receive” button in app; Paste the generated address or scan the QR code when sending coins from an external wallet or exchange to Guarda.


4. Is Guarda Wallet app safe?

Guarda is a non-custodial crypto wallet. Guarda stores no private data, backup files, or keys, and no one has access to the user's wallet. Users are the only ones who have access to private information.
Security features include: fingerprint authorization; PIN code; backup file

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