Review on XinFin Network by Fanuel PORPORTY
The XinFin network is a highly scalable platform that provides a secure and permissioned commercial grade Hybrid blockchain. It aims at facilitating peer-to-peer transactions in the trade and finance industry.
XinFin is a Singapore-based Blockchain Technology Company whose aim is to provide solutions tailored for international trade and finance. The XinFin platform has four solutions namely Tradefinex, Business Efficiency solutions, E-wallets and Remittance, as well as Private Sub-networks.
The XinFin XDC Protocol is a Hybrid blockchain that leverages the best features of two blockchains- Ethereum and Quorum. The protocol’s unique feature offers partial anonymity in that it allows its users to independently determine which transactions they prefer to make public and which ones should remain anonymous. Most of the users are government corporations and enterprise businesses around the globe. The network is powered by two tokens. There’s the XDC token and XDCE token. The XDC is an ERC20-based utility token which works on the Ethereum ecosystem. The XDCE token allows users to trade at regulated exchanges, benefitting from the token’s stability and thus shielding themselves from wild price swings. XDCE is an ERC20 utility token that’s based on the decentralized Ethereum ecosystem. It helps global enterprises to access and interact with the XDC Protocol.
Pros
- XinFin (XDCE) is an open source hybrid blockchain platform.
- Furthermore, the network allows the creation and deployment of smart contracts and dApps between governments, business enterprises, and other financial institutions, and between buyers and suppliers.
- XinFin-Hybrid Blockchain will provide more flexibility, faster transaction time, security, auditability and simplicity features as compared to any other popular blockchain network.
- One of the top partnerships XinFin signed was with Bancor. The integration with Bancor enables the platform to provide continuous liquidity for its users.
- There’s one hurdle that faces governments all over the world- burdensome loans. Now XinFin has teamed up with world governments to enable them leverage blockchain for crowdfunding. It helps save governments millions in unwanted debt. XinFin says that any government is able to use its smart contracts to raise funds and channel them towards financing projects.
Cons
- The tight control exercised by governments over certain markets is not going to disappear anytime soon. At the moment, it dramatically limits the adoption of blockchain technology in sectors like global finance and infrastructure development.
