Which country issued XDC currency?

XinFin, a Singapore-based company established in 2017, issued the XDC currency as the native token of its XinFin XDC Network.

Nov 17, 2024 at 11:24 am

Which Country Issued the XDC Currency?

Introduction:

XDC, also known as XinFin XDC Network, is a decentralized, open-source blockchain platform designed to facilitate global trade and finance. The XDC currency, the native token of the XinFin XDC Network, is used for various purposes within the ecosystem, including transaction fees, staking, and governance.

Country of Origin:

The XDC currency was issued by the XinFin Network, a Singapore-based company founded in 2017. XinFin is a leading provider of blockchain solutions for the financial industry, with a global presence and partnerships with various financial institutions.

Historical Development:

• 2017: XinFin Network founded in Singapore.
• 2018: XDC Genesis Block launched, marking the creation of the XinFin XDC Network.
• 2019: XDC listed on global crypto exchanges, including Binance and OKEx.
• 2020: XinFin enters into partnerships with major financial institutions to explore blockchain-based trade finance solutions.
• 2021: XDC Network undergoes significant upgrades, including the implementation of smart contract capabilities.

Distribution:

The XDC currency was distributed through a combination of methods:

• Private Sale: Selected investors purchased XDC tokens during private sale rounds conducted before the public launch.
• Public Sale (ICO): A public token sale (ICO) was held in 2017, allowing individuals to purchase XDC tokens.
• Block Rewards: XDC tokens are also generated as block rewards for validators who participate in securing the XinFin XDC Network.

Circulating Supply:

The total circulating supply of XDC is approximately 12 billion tokens. The distribution of XDC tokens among different stakeholders is as follows:

• Private Sale: 40%
• Public Sale (ICO): 25%
• Team and Advisors: 20%
• Community Reserve: 10%
• Ecosystem Development: 5%

Uses of XDC:

The XDC currency is primarily used for the following purposes within the XinFin XDC Network:

• Transaction Fees: XDC is used to pay transaction fees for remittances, trade finance transactions, and other operations conducted on the network.
• Staking: XDC holders can stake their tokens to participate in the validation process and earn rewards in the form of additional XDC tokens.
• Governance: XDC holders have voting rights and can participate in the governance of the XinFin XDC Network, including proposing and voting on changes to the protocol.
• Fee Denomination: XDC is used as the denomination currency for ancillary services and third-party applications built on the XinFin XDC Network.

Conclusion:

The XDC currency is a valuable asset in the global trade and finance ecosystem. Its origins in Singapore and strong partnerships with financial institutions position XinFin as a key player in the blockchain industry. The XDC currency is utilized for a wide range of purposes within the XinFin XDC Network, supporting the efficient and secure facilitation of global trade and financial transactions.