XinFin is an open-source blockchain platform launched in 2017 by XinFin Fin Tech, a Singapore-based open-source blockchain developer focused on international trade and finance, with the idea to connect investors and developers in a safe environment and make transactions more secure and transparent during international fund transfers.
The XinFin mainnet token, XinFin Digital Contract (XDC), is built upon the ERC20 standard to ensure compatibility with dApps and smart contracts written for the Ethereum blockchain. XDC is a utility token that powers the XinFin hybrid blockchain ecosystem and provides utility to the global finance industry by facilitating international and domestic transactions. The maximum supply is limited to 37 billion coins. XDC protocol is a standard protocol for Trade Finance securitization, which can process 2000+ TPS with an average fee of 0.0001 USD and a transaction confirmation time of 2 seconds.
XDC token is supported by several wallets and exchanges. XinFin users can store their XDC Token in D’CENT Hardware Wallet. XcelPay Wallet and XcelPay allow users to store, trade, swap, and book trips using XDC Tokens. Among the top exchanges for trading XDC are Bitfinex, Bitrue, Mercatox, STEX, IDEX, and LATOKEN.
The XDC ecosystem includes a hybrid blockchain with private subnetworks, dApps, TradeFinex, smart contracts, a hedge pool, customers and institutions, Masternode, wallets, Remix, and Xin Pay.
TradeFinex is a peer-to-peer decentralized platform powered by XDC, which allows trade finance originators to connect their platforms to a network of bank or non-bank funders and get access to the secondary distribution marketplace. It offers buyers, sellers, banks, and carriers the possibility to electronically exchange letters of credit, electronic bills of lading, insurance certificates, and other trade documentation. Organizations can also create and manage guarantees and bonds from financial institutions with full control and transparency.
The XinPay browser extension was developed to give access to XinFin's applications in a browser. It also lets users create and manage their own identities via private keys and local client wallet, so when a dApp wants to execute a transaction and write it to the blockchain, the user gets a secure interface to review the transaction before approving or rejecting it.
Remix is a XinFin web browser-based network used to create custom smart contracts, deploy and run them from a local computer. Users can execute their smart contracts in XinFin Remix being connected to a local development blockchain, the testnet blockchain or the mainnet blockchain. The XinFin Apothem network allows customers to receive test coins from an XDC faucet on XinPay, and then deploy the token from XinFin Remix and submit the required transaction. To deploy smart-contract on XinFin mainnet users must have real tokens. Also, XinFin offers One-Click Masternode deployment, the easiest solution for earning XDC.
The XDC network ecosystem is driven by plenty of utility and use-cases. TradeFinex Network offers a decentralized way to manage Invoices. Digital bill of lading application gives carriers and logistics providers the ability to create, send and manage bills of lading with greater accuracy, integrity, and speed. XDC is aimed to connect funding sources in the real world to DeFi markets and be a standard for registering payment obligations for buyers, suppliers, governments, and banks.
The XDC hybrid blockchain combines the transparency of public blockchain with the speed and security of the private network. It can be used to build various applications (dApps) in such areas as supply chain, financing, procurement, power, banking, aviation, tourism, medical, and other industries. Customers can purchase services through dApps with transactions recorded on the blockchain. XDC Protocol also supports non-tokenized solutions that help improve the business process efficiency. XDC protocol supports smart contracts layer, KYC/AML layer, fiat payment methods, and price stability using its hedge pool for cryptocurrencies.
The XDC blockchain offers three kinds of membership. Users who own the XDC tokens are part of Tier 1 membership by default. Interested individuals or institutions can buy tokens through the planned crowd sale. Tier 2 and Tier 3 memberships are available for customers holding a certain amount of the XDC. These tiers give the right to host the XDC nodes and participate in the consensus mechanism of the XDC blockchain.
The XDC ecosystem provides light wallets each serving only one account and having unique keys for signing transactions, which almost completely eliminates the possibility of being hacked or losing XDC tokens.
XDC original wallet is an open-source client interface platform helping to interact with the XinFin blockchain. The wallet enables real-time payments, allows users to swap or send XDC and other tokens, purchase ENS domains, and interact with smart contracts. It can be downloaded from Google Play, Apple Store, or the web link.
To make XDC-based transactions completely safe and private, the XinFin Web Wallet offers a Send Offline Functionality (SOF), a feature involving two computers, one of which remains online, and the other has to be disconnected from the Internet. Transactions are processed off-chain, private keys are used and stored on the offline computer minimizing the risks of hacking while the online computer broadcasts transactions to the network.
XinFin team and partners
XinFin is supported by professionals specializing in blockchain technology, infrastructure, smart contracts, decentralized finance tools, technology, and cryptocurrency.
Ankit Patel is the Director who has contributed much as a Java Developer. His area of expertise is XDC’s research and development. Ritesh Kakkad is the XinFin co-founder and strategist with over 20 years of experience in cloud hosting and web infrastructure working on blockchain development and protocol setup. Sameer Dharap is the Vice President with experience in management consulting in the areas of strategy and supply chain. Tadashi Yoshida is responsible for XinFin ecosystem development in Japan. Meenu Sarin who is on the Executive Board of Singapore Semiconductor Industry Association, evangelizes XinFin technology in Asia.
Ramco Systems, a global enterprise software specialist and XinFin joined forces to develop hybrid blockchain solutions in 2018. Copper.co, a London-based institutional custody and prime brokerage firm, provides support for XDC across its hot and cold wallet solutions. In association with Assocham XinFin launched its marketplace platform TradeFinex and extended it to Assocham’s network of trade associations.