Who is the team behind Xinfin XDC?
Xinfin.org is not a team, it’s building a community. Or team is comprised of entrepreneurs, ex-bankers, ex-government officials who are all on a mission to deliver blockchain to solve real problems. Our core team members include an entrepreneur with cloud hosting solutions business with over 10,000 clients, many of them fortune 500s, an entrepreneur who has created ventures in excess of $100 million in value, a ex-world bank executive that has helped in public infrastructure creation, an ex-banker with over a billion dollars in asset management experience. Xinfin.org is developing a community of blockchain engineers, programmers, User interface experts, real world integration experts. The team bios will be available on the site at the time of it’s marketplace and white paper launch.
What is XDC ?
XDC stands for Xchange Infinite Development Contract. It is a native token on the Xinfin.org platform that will be used for Trade and Financing as well as global real time gross settlement.
What is Goal of foundation ?
Our goal is to build enterprise ready blockchain Our use case is to enable centralised and decentralised financing of projects that regulated entities can work with.
Our goal in the long term is to get the Governments and institutions use blockchain based token itself on a real market need based use case. It will provide 2 main benefits:
- We are striving to get authorisation from the Government for the blockchain token
- Our goal is to get regulated financial entities officially act as market makers/exchangers for the token
Why should I buy XDC ?
Over the past five years digital eco systems have outperformed any other assets like gold, the stock market or real estate. Xinfin.org is building an institutional trade and financing marketplace built over it’s custom designed Eethereum- derived token called XDC. Projects on the Xinfin.org platform will be financed and settled through XDC.
There is a huge risk as well as a huge upside to using blockchain-based tokens. The entire financial system of the world is being rewritten using digital assets built over blockchain. We believe blockchain will become a bigger development than any of the previous revolutions like the internet. The scalability and reach of a digital asset gives the buyer an opportunity to benefit from the rapidly growing economy.
What are the other applications of XDC?
XDC is launching with institutional financing as a use case, however all other use cases like remittances, payments, and rewards points. The biggest benefit of XDC is that the transactions are performed in seconds; hence it’s useful in a variety of applications and use cases.
How is XDC built?
Public blockchains like Bitcoin and Eethereum are largely used as systems for peer-to-peer digital cash. Due to the mechanism of writing blocks and transactions publicly through the miners, there is a huge computing power required to keep the blockchain stable from any DDOS attack. This has increased the latency time of transactions from anytime anywhere between 10 minutes to 1 hour.
XDC is built by forking the Eethereum code base to make it more suitable to work on a private permissioned network. XDC transactions are completed in seconds, provide full privacy, yet at the same time provides the ability to be distributed and decentralized. XDC is designed for a specific use case of global real- time settlement.
How will the xinfin.org marketplace work?
Xinfin.org will be launching its marketplace for buyers, sellers and financiers on the tradefinex.org website. Xinfin.org is connecting smart contracts with real- world contracts to enable real- world use cases of blockchain in the domain of institutional finance. The marketplace gives individuals the power to raise capital through crowdsourcing. It also gives motivating financing structure to financiers by giving them a certain percentage of bounty/cashback on tokens. It enables quality sourcing between suppliers and buyers with the ease of doing transactions through XDC as a real- time gross settlement mechanism.
Is XDC Legal?
XDC is a Fintech Instrument that enables the real time payment, settlement and financing of global trade and financing transactions. Crypto-Currencies have mixed reviews as per various Governments. Japan recently recognised Bitcoin as a legal payment method. Many of the countries are yet to recognise crypto currencies. Some countries may not recognise crypto currencies at all. Role ofXinfin.orgis to demonstrate the power of Blockchain technology to Governments and institutions.
How is XDC backed?
If you read through writings of economists or Central bankers, most of the times you will see reference of money supply or currency to productivity of businesses and nation in general. While XDC is a digital asset, we do not aim to be a crypto-currency.Xinfin.orgis working with Governments and institutions worldwide to increase productivity and addressing issues in global trade and supply chain finance today to bridge the $5 trillion infrastructure financing deficit. We greatly believe that Xinfin.org will be able to convince the Governments and institutions of the power of blockchain and getting some form of recognition for XDC in the future.
What Changes have been made to Ethereum architecture for Xinfin XDC and how has it resulted in a private distributed network?
The institutions looking to work with Xinfin on the specific global trade and financing use case have specific needs. First is that the transactions should not have huge latency times that public blockchains have. Many of the trade and financing deals that are about to be executed on our marketplace platform need quick settlement times yet at the same time need a digital token for functionalities such as escrow and collateral. To suit the use case better, there was a change made to the ethhash function to better suit the difficulty for a private distributed network of participants and enable fastest transaction times. The XDC network is also independent of Ether or Gas. It runs by itself. Also, since there are no public miners in the system, it is designed to be fast, scalable and highly secure.
What inspired the team behind XinFin to seek an Ethereum-based blockchain solution?
Ethereum allows smart contracts. Xinfin is working with real world use cases and our team evaluated that we can evolve the smart contracts to work with real world contracts. We also believe that ethereum architecture is the most evolved for enterprise grade solutions.
How much of the XDC has been pre-mined? Have you done anything to allay the communitys concerns which often arise over a pre-mined token(s)?
80% of the XDC have been premined. We understand the community's concerns however we all need to understand it's a high time blockchain delivers real world use case and user validation. Public mining raises scalability and security concerns that real world enterprises are not ready to work with.
How was proof of stake implemented as opposed to proof of work?
Proof of work is not feasible for instant payments, settlements and trade mechanisms. We have implemented proof of stake that selects validators randomly. Validators are base token holders who have locked their XDC into deposits.
When willXinfin.org marketplace launch and when will the first transactions happen?
XinFin will be executing its first couple of trade and financial transactions with real world institutions and enterprises along with it's marketplace launch. Our mission to make blockchains work for real world enterprises.
What is the XinFin's mission?
Xinfin’s mission is to deliver enterprise grade blockchain that solves real world problems with real solutions and real transactions. A large chunk of Xinfin XDC tokens are allocated for financing public infrastructure projects that are designed to have cloud connectivity for payments and settlements.
Is XinFin mineable?
XinFin is not publicly mineable. XinFin uses proof of stake mining and to be a master node in Xinfin, there is a evaluation process. Master-nodes work on number of XDC held as deposit on the Xinfin.org blockchain. 90% of the pre-mined XDC tokens are held in escrow and are locked until the results are delivered.
Does the XinFin organization hold up any amount of coins or are all the coins distributed to the community?
20% of the tokens are distributed to the Xinfin.org foundation which represents Xinfin community. Exchange Infinite, which is a business focused organization holds 17% of the tokens which will be sold periodically to meet expense requirements of the organization. 5% are offered in Pre-ICO, 5% will be offered in ICO and another 7% to meet all future expenses for day to day running of the organization.90% of the pre-mined XDC tokens are held in escrow and are locked until the results are delivered.
Is there anything related between XinFin's XDC and Xedoscoin(XDC) from 2014?
Xinfin XDC is a new Crypto-token. Xinfin.org has no relation with that coin. We we are currently communicating with the exchanges to allocate XDC as an asset code for Xinfin.org XDC. XDC stands for eXchange infinite Development Contract, Xinfin XDC or simply XDC.
Explain how individuals can crowdsource for support over the xinfin.org XDC network?
Xinfin.org crowdsource feature will come along with our marketplace. It lets an individual initiate a project of public importance. Then promote the project with crowdsource and support. Once the project is backed with a minimum number of votes, it is open on the marketplace for project management consultants who will bid for the process of management from conceptualising to execution. The entire workflow from design to sourcing of materials will be available on xinfin.org with full transparency. Once the project has been confirmed and necessary approvals and votes have been secured from the community, it will be open to financiers. The financiers will get 25% bounty for financing the project.
Can you throw more light on the global remittances through the XDC network?
Xinfin.org blockchain can process transactions in seconds. There are open APIs which will be launched shortly that will include buy,sell,send and receive. Over and above this, there is an independent entity from the Xinfin community which is building FXRateLock feature that locks the FX rate for remittances for upto 5 days. The authorised market-makers from sender and receiver country country can debit a bank account and remit a bank account upon confirmation of a XDC network transaction.
Why is that mining of the last 20% of XDC token will be available to credible institutions worldwide but not everyone?
Xinfin.org is releasing a white paper that publishes the algorithm for mining Xinfin.org XDC. Xinfin XDC network uses a combination of Proof of Stake/importance/reputation algorithm that lets a community vote for a miner. The miner needs to build and maintain their reputation (as per the algorithm) that lets them mine the Xinfin XDC. This function has been designed as per real world enterprise, institutions feedback for them to work with the Xinfin XDC network and to provide auditability to regulators/authorities if required.
When exactly will the marketplace launch take place?
Xinfin.org marketplace is scheduled to launch on 1st September along with the biggest ICO that we plan to be. The difference between other ICOs and Xinfin. XDC ICO is that it will launch not just with a white paper but completed demonstrations of real world transactions with reputed and/or regulated institutions. Xinfin.org has currently opened it's Pre ICO in limited numbers to it's early backers and community members and is live on www.xinfin.org.
Link to wallet : https://ewallet.xinfin.org
Do you have open forum discussion or Bitcointalk Link to share?
Yes. We do have open community discussion forum and We also have Bitcointalk forum link:
Community discussion forum : http://xinfin.net
Bitcointalk Link : https://bitcointalk.org/index.php?topic=1989818.0