Why choose the Wigwam crypto app?
Work with XDC Network Testnets and Mainet
Buy XDC Network tokens, including native token, by using a credit card
Swap XDC Network-based tokens directly in the wallet
Possibility to connect the wallet to all XDC Network blockchain dAps: DeFi, DAO, Gamings, etc
How to get a XDC Network address in Wigwam web wallet
Create a wallet in Wigwam
Choose a XDC Network network from the dropdown menu
Copy you XDC Network address
XDC Network review
XDC Network is an open-source, enterprise-grade, hybrid solution that contains features of both private and public blockchains. Due to this feature, it's well suited for international trade and finance.
Origins & Vision
The XDC Network was founded in 2017, and its native token XDC was also launched with it as an integral part of the ecosystem. XDC Network was already ahead of the competition as it was utilizing XDPoS as its consensus mechanism, in 2021 XDC Network upgraded it to XDPoS 2.0 protocol with its Andromeda XDPoS. After, the blockchain team launched the Pitstop Protocol in 2023 to help developers build applications in their ecosystem. AtomiK, the first DEX to perform cross-chain atomic swaps using ZK technology, was launched on XDC in the same year, ensuring secure bridging between the Aleo and XDC (EVM compatible) blockchains. To promote and attract more artists and collectors to its platform, XDC Network launched Sniffer, which provides live alerts on listed NFTs and offers an automatic purchase feature to secure preferred NFTs at suitable prices.
XDC Consensus Algorithm explanation
Unlike other blockchains, XDC Network is a hybrid blockchain, it is both public and private, hence it utilizes the XDC Delegated Proof-of-Stake(XDPoS) consensus mechanism that offers fast and secure transactions. Its enterprise readiness is elevated by nominators adhering to self-KYC requirements, fostering regulatory compliance.
In the XDPoS mechanism, Validators stake their coins, and coin holders (Nominators) vote on the validators. The validators with the most votes get selected for validating transactions and adding blocks. Validators are rewarded for finalizing a transaction and Nominators get a percentage of that reward.
To prevent malicious behavior XDPoS features transactions with dual signatures for verification and utilizes off-chain and on-chain methods for detecting and penalizing misbehaviors. Validators can report malicious KYC certifications which leads to slashing if agreed upon by the majority.
How XDC Network Technically Solved Problems with Scalability, Decentralization, and Speed.
XDC Network’s XDPoS (Delegated Proof of Stake) consensus mechanism lets a limited number of elected validators process transactions and add blocks, this way it improves the transaction speed to 2000 tps and scalability of its ecosystem. This mechanism system also promotes other coin holders to vote and select their delegate validators which leads to the network being decentralized.
Who are the Main Players in the XDC Network Blockchain
The following two are the main players and roles in the XDC Network blockchain.
- Validator: It is responsible for validating transactions and producing blocks, the validators are required to pay the register fee and complete the identity verification (KYC) before they can participate in the network. In XDC, a validator has to wait two epochs after staking to become eligible.
- Nominator: It is a coin holder who delegates their coins to a validator, and earns a percentage of the reward.
DeFi Ecosystem on XDC Network
The public-private hybrid model and EVM compatibility of XDC Network have attracted many enterprises to either build applications on top of XDC Network or deploy XDC Network tech architecture in their existing systems. XDC Network has many projects like “XSWAP” the first decentralized exchange that utilizes an automated market maker (AMM) system on XDC Network, “Atomik” the first DEX to perform cross-chain atomic swaps using ZK technology, ensuring secure bridging between the Aleo and XDC (EVM compatible) blockchains and “TradeTrust” which utilizes XDC Network for helping enterprises and banks by providing a common platform for exchanging and verifying documents.
XDC Network recently updated its DeFi ecosystem with integrations like the Compliance Technology From Securrency and Fathom protocol, a sustainable borrow-and-earn platform.
NFTs Marketplaces on XDC Network
XDC Network attracts many artists and collectors to its various NFT markets, “XDSea” is one of the famous NFT marketplaces on XDC Network. NFTs in XDC Network are bound to expand more as XDC’s EVM compatibility and its various comprehensive solutions like ‘Sniffer’ and ‘NFTs (No Fear NFTs)’ that are working to make the NFTs on XDC Network more scalable, decentralized and accessible. Install the Wigwam NFT wallet to join the XDC NFT ecosystem.
Tokenomics and Gas Usage on XDC
XDC, the native token of XDC Network, has several utilities as discussed below:
- Transaction Fee: The users transacting in the XDC network are required to pay the
- transaction fee in XDC.
- Staking: The Validators and Nominators stake the XDC tokens, contribute
- to the network’s security, and earn rewards as XDC tokens for their contributions.
- Governance: XDC tokens also serve as the exclusive governance voting token, enabling community-driven decisions.
XDC Network is a third-generation blockchain, with the combined features of private and public blockchain. XDC utilizes the upgraded version of Proof-of-Stake(PoS), called Delegated Proof of Stake (XDPoS), and its various upgrades that show XDC Network is here to change the way we deal with Enterprises and international trades.
XDC Network has its blockchain explorer, where you can access your account information, transaction details, and other account activities executed on XDC. You just need to enter your public wallet address in the search bar at XDC Network Blockchain Explorer.
For the utmost security in your XDC transactions, it is recommended to use a private crypto wallet. When selecting a wallet, explore notable options like Wigwam Wallet, D’cent Wallet, Crypterium Wallet, FreeWallet, and Guarda Wallet, as there is no universally recognized "best" wallet.
Launch MetaMask in your browser, click on your profile icon at the top-right corner of the wallet, and select Settings from the drop-down list. Select Networks from the list of the available settings and this will navigate you to the screen for adding the new network.
Click on the Add Network button, select Add a Network manually option from the bottom of the page, and enter the following details:
- Network Name: XDC Network
- RPC URL: https://rpc.xdc.org
- ChainID: 50
- Symbol: XDC
- Block Explorer URL: XDC Network Blockchain Explore
Click on the Save button after entering the values as mentioned earlier.
According to data from DefiLlama, the top three most popular projects running on the XDC Network are XSwap Protocol, Fathom Dex, and Globiance.