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Token Name and Symbol

XDC Network (XDC)

Purpose:

The primary purpose of the XDC Network is to improve the inefficiencies in global trade and finance by leveraging blockchain technology. It aims to:

• Create more secure and transparent transactions for cross-border trade.

• Enable interoperability between various parties involved in trade finance.

• Streamline processes like letters of credit, invoicing, and supply chain management.

• Facilitate the tokenization of real-world assets (RWAs) to improve liquidity and efficiency.

• Provide a platform for decentralized finance (DeFi) applications with low fees and fast transactions.

• Offer enterprise-grade solutions for data exchange and asset transfer.

   

Who is Behind the Project

• The XDC Network is supported by a global team and a growing community. Key figures and entities involved include:

  • Atul Khekade: Co-Founder, focusing on Technology and Ecosystem Development.

  • Ritesh Kakkad: Co-Founder, Early Investor, and Blockchain Strategist.

  • Sunil Senapati: Chief Executive Officer of XDC Trade Network.

  • Bill Sebell: Director of Ecosystem Development, North America.

  • André Casterman: Advisor for Strategy and Business Development in Transaction Banking and DeFi.

  • XDC Foundation: An independent, community-focused entity formed in 2021 to support the growth, development, and adoption of the XDC Network. It works to engage with ecosystem participants and aggregate key information about the network.

  The project also benefits from a distributed community of developers, early adopters, and advocates. 

Partnerships

XDC Network has established numerous strategic partnerships across various sectors to drive adoption and expand its ecosystem. Notable partners include:

• Archax: A FCA-regulated digital asset exchange, broker, and custodian. Their partnership has led to the tokenization of major money market funds (MMFs) like Abrdn, State Street, Fidelity, and BlackRock on the XDC Network.

• Plug and Play: A leading innovation platform. They have partnered with XDC Network to launch an RWA Accelerator program to foster the development of tokenization applications. They also have a partnership focused on payment solutions.

• IMDA (Infocomm Media Development Authority of Singapore): XDC is working with IMDA on solutions compliant with the UNCITRAL Model Law on Electronic Transferable Records (MLETR) using IMDA's TradeTrust framework.

• Propine: The first licensed digital asset custodian in Singapore. They have integrated with XDC Trade Network to provide secure custody solutions and enable atomic settlements.

• DocuTrade by Yodaplus: A digital solution for trade documentation that ensures legal credibility for electronic documents on the XDC Network.

• SBI Japan: Collaboration to explore and advance the adoption of blockchain technology in financial services.

• DTTC**

Security & Audits

XDC Network places a strong emphasis on security:

• XDPoS 2.0: The network underwent a significant consensus upgrade (XDC 2.0) in September 2024, which introduced military-grade security and forensic monitoring. This upgrade provides three-block finality, achieving maximum security within six seconds.

• Malignant Node Detection: XDC 2.0 features a governance platform capable of identifying and slashing malicious nodes, including burning their staked XDC tokens and potential prosecution due to KYC requirements for Masternodes.

• CertiK Audit: A rigorous audit of XDC 2.0 was conducted by CertiK, a leading blockchain security firm. The audit resulted in an "AA" security rating, placing XDC in the top 10% of crypto projects according to CertiK's SkyHarbor reporting. The protocol received "Excellent" ratings in Code, Community, Operational, and Market categories.

• Ongoing Testing: The development team continuously conducts pressure tests to ensure the network's resilience and ability to recover from various scenarios.

• KYC for Masternodes: The requirement for Masternode operators to undergo KYC adds a layer of accountability and deters malicious actors.

Potential

• XDC Network has significant potential due to several factors:

  • Focus on Real-World Use Cases: Its emphasis on trade finance and RWA tokenization addresses large and underserved markets with clear business needs.

  • Hybrid Architecture: The flexibility of public and private modes caters to both transparency and privacy requirements of enterprises.

  • High Performance and Low Fees: Fast transaction times and near-zero gas fees make it attractive for high-volume applications and micro-transactions.

  • EVM Compatibility: This allows for easy migration of existing Ethereum projects and a large developer base.

  • Strong Partnerships: Collaborations with regulated entities and industry leaders enhance credibility and drive adoption.

  • Security Upgrades: The XDC 2.0 upgrade significantly strengthens the network's security posture, which is crucial for institutional adoption.

  • Subnet Functionality: The introduction of subnets provides enhanced privacy options for institutions, unlocking new potential use cases.

  • Growing Ecosystem: The increasing number of dApps and projects building on the network indicates a healthy and expanding ecosystem.

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