XDC is a public, open source blockchain platform built on Ethereum that enables developers to create, launch, and deploy decentralized applications. The XDC protocol is designed to provide a scalable, efficient, and secure foundation for building decentralized applications.
The XDC protocol is based on the Ethereum Virtual Machine (EVM), which is a decentralized platform that runs smart contracts. The EVM is used to execute all the transactions on the XDC network.
The XDC protocol also uses the gas model of Ethereum to power all the transactions on the network.
The XDC network is powered by a native token called XDCE. The XDCE token is used to pay for transaction fees, gas, and other services on the network.
NOTE: Warning: XDC is not built on Ethereum. XDC is built on the XinFin Hybrid Blockchain, which combines both public and private blockchains. It is not compatible with Ethereum and does not use Ethereum’s network or protocol.
The XDCE token is also used to incentivize users to participate in the network and to reward them for their contributions.
The XDC protocol has been designed with scalability in mind. The protocol uses sharding to improve scalability and reduce congestion on the network.
The XDC protocol also uses a proof-of-stake consensus algorithm, which is more energy-efficient than the proof-of-work algorithm used by Ethereum.
The XDC protocol has been designed to be compatible with Ethereum smart contracts. This means that developers can launch their decentralized applications on both the XDC network and the Ethereum network.
Yes, XDC is built on Ethereum.
8 Related Question Answers Found
No, XDC is not an Ethereum. XDC is its own blockchain platform with its own native token, XDC. While both platforms are decentralized and allow for the development of dapps, they differ in their consensus mechanisms, features, and Target use cases.
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third party interference. xDai is a digital currency that is pegged to the value of the Dai, a stablecoin that is soft-pegged to the US Dollar. xDai is built on Ethereum and uses the same blockchain infrastructure as Ethereum.
If you were to ask someone whether XRP is built on Ethereum, you would likely get a variety of different answers. Some people might say yes, while others might say no. So, which is it?
In short, no. XDC is its own blockchain, built on the ERC20 protocol. However, XDC does have an Ethereum token called XDCE.
IPFS (Interplanetary File System) is a protocol and network designed to create a decentralized file system. It is a content-addressed, peer-to-peer hypermedia distribution protocol. IPFS is built on top of the existing infrastructure of the Internet and leverages the power of cryptography to provide security and integrity.
Telos is a new blockchain protocol launched in 2018 that is based on the EOSIO software from Block.one. Telos has its own native currency, TLOS, and its own blockchain with its own rules and governance structure. Unlike Ethereum, Telos is not a platform for smart contracts and dapps.
VeVe is a decentralized platform built on the Ethereum blockchain that allows users to buy and sell digital assets. The platform is designed to be user-friendly and offer a variety of features that make it an attractive option for those looking to invest in digital assets. The team behind VeVe has a strong belief in the power of blockchain technology and its ability to disrupt traditional financial markets.
Zora is a Protocol for launching products on Ethereum. It is an open-source, decentralized, and community-owned protocol that enables anyone to create, launch, and manage products on Ethereum. Zora is built on Ethereum and utilizes Ethereum’s smart contract functionality to enable the creation and management of products on the platform.
