The XDC Network is a groundbreaking layer-1 blockchain tailored to multiple use cases, including facilitating the tokenization of real-world assets (RWA). Operating on a delegated Proof of Stake (PoS) consensus mechanism, XDC ensures rapid transaction processing without imposing significant energy demands. Thus, they establish a greener and more secure blockchain ecosystem.
Subsequently, this unique combination of features renders XDC Network an attractive blockchain for enterprises and developers, promising versatile applications across various industries. Among its innovative use cases, XDC excels in real-world asset tokenization, enhancing liquidity and accessibility for tangible and intangible assets like real estate and commodities.
Additionally, its integration can automate processes, reduce fraud, and enhance transparency. XDC also expedites transactions, simplifies global payment systems, and serves as a foundational layer for various DeFi applications. This helps reshape traditional financial landscapes by making lending, borrowing, and other financial instruments more accessible.
Read below for the blockchain’s most recent news and updates!
XDC Integrates with Supra Labs
The collaboration between XDC Network and Supra promises significant advancements due to their complementary strengths and shared goals. XDC Network excels in high speed, scalability, low transaction fees, and robust security. This makes the network an ideal medium for tokenizing real-world assets (RWA) and financial instruments. Additionally, Supra’s integration of its dVRF technology ensures authentic randomness, enhancing transparency and reliability for applications such as dynamic NFT creation and random opponent matching.
Moreover, Supra’s Oracle price feeds provide real-time data updates, improving security and reducing costs for developers within the XDC ecosystem. This synergy fosters innovation by providing developers with the tools and resources needed to build robust decentralized applications (dApps). Ultimately, the collaboration seeks to drive blockchain innovation forward, leveraging reliable oracles and a versatile platform to empower developers and expand participation.
With over five years of research and development, Supra has made significant technical breakthroughs to enhance blockchain infrastructure. Their powerful cross-chain oracle network provides essential off-chain data for dApps. Notably, the network ensures fast, secure, and scalable solutions for everything from DeFi to GameFi.
Moreover, Supra’s decentralized Verifiable Random Function (dVRF) delivers truly random, on-chain verifiable outcomes, addressing the unique demands of Web3 dApps. To combat Web3’s fragmentation, Supra introduces IntraLayer. IntraLayer is an integrated framework comprising oracles, bridges, and a smart contract platform designed for seamless cross-chain communication.
Through this partnership, Supra and XDC envision a future where blockchain technology is more accessible, secure, and capable of supporting a wide range of innovative use cases, ultimately driving the widespread adoption of decentralized technologies.
Genfinity Interviewed Fathom Protocol
Genfinity recently interviewed Fathom Protocol along with members of the XDC Foundation. Fathom Protocol, in collaboration with the XDC Network, is charting new territories in decentralized finance (DeFi). Founder Tyler Carter provided insights into tokenized assets, economic implications, and the transition to blockchain in traditional finance. At the forefront of this transformative landscape, Fathom Protocol offers a comprehensive DeFi solution within the evolving ecosystem of the XDC Network.
Additionally, Fathom aims to revolutionize tokenized real-world assets (RWAs) by providing utility through collateralization on its liquidity platform. Users can mint the FXD stablecoin using crypto or tokenized assets like gold, unlocking various trading opportunities and access to Fathom vaults. Significantly, the protocol’s vaults offer diverse trading strategies and asset exposures. Through collaboration with licensed asset managers and a cautious approach to asset selection, Fathom ensures the quality and legitimacy of assets deposited into its vault system. Overall, the protocol promotes transparency and security in the tokenization space.
Furthermore, Tyler’s insights shed light on the economic implications of borrowing against illiquid assets and the inevitable transition of traditional finance onto blockchain networks. He emphasized democratizing access to liquidity from illiquid assets, unlocking trillions of dollars in potential liquidity without increasing the money supply.
Additionally, Tyler envisions a future where DeFi tools cater to both retail and institutional needs, offering cost savings and scalability that make blockchain technology indispensable for traditional financial institutions. As Fathom Protocol continues to innovate and expand its offerings, it plays a pivotal role in shaping the future of DeFi within the XDC Network. The protocol is at the forefront of propelling the adoption of tokenized assets and decentralized finance globally.
XDC was Featured in The Fintech Times
In a recent article by The Fintech Times, the publication discussed the evolving landscape of digital assets and the potential resurgence of non-fungible tokens (NFTs). Highlighting the shift away from traditional perceptions of digital assets solely as currencies, the piece delves into the emerging use cases within the digital asset ecosystem. Notably, while NFTs experienced a surge in popularity, particularly in the realm of NFT art, their subsequent decline prompted developers to explore alternative applications.
Billy Sebell, executive director of the XDC Foundation, emphasized the potential of tokenizing real-world assets on the blockchain, suggesting they could become the ‘new NFTs.’ He stated, “RWA tokenization will solve problems in big industries such as trade finance, where the $5 trillion trade finance gap has long limited micro, small, and medium enterprises (MSMEs) from participating in global trade.”
Other Developments
XDC is Attending Consensus
The XDC community will be at the Consensus conference, which ends on May 31. The team will be in booth 1248 throughout the conference.
EVM Upgrade
The XDC Network is gearing up for an EVM upgrade to the latest version of the Solidity smart contract programming language, version 0.8.23. The upgrade is notably scheduled for June 19th, 2024. Additionally, IndSoft Systems, a company providing managed cloud and IT services, completed essential upgrades for the upcoming integration of Solidity on the XDC Mainnet.
Looking ahead
Looking ahead, the XDC Network emerges as a pioneering force in the blockchain space, offering a robust layer-1 solution tailored to diverse use cases. Its implementation of a delegated Proof of Stake (PoS) consensus mechanism ensures rapid transaction processing with minimal energy consumption, establishing a sustainable and secure blockchain ecosystem.
The recent integration with Supra Labs augments XDC’s capabilities, leveraging Supra’s advanced technologies, such as dVRF and Oracle price feeds, to enhance transparency, reliability, and scalability for decentralized applications (dApps). Furthermore, collaborations with projects like Fathom Protocol showcase XDC’s pivotal role in driving innovations in decentralized finance (DeFi), facilitating the democratization of liquidity access and the transition of traditional finance onto blockchain networks.
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