On June 1, 2019, XinFin launched its blockchain mainnet. It doesn’t take a mathematician to deduce that this means a second-anniversary celebration is in order. In an era where blockchains are ten a satoshi, and many don’t see sufficient adoption to warrant a first-year soiree, let alone a year-two celebration, that’s quite a feat. However, there are other reasons for toasting XinFin’s success over and above the passage of time.
In a Medium post on June 1, XinFin celebrated its two-year milestone, recalling the birth of XDC network as it’s also known. XDC is the native asset of XinFin, and like the blockchain itself, it’s been on quite a journey over the past 24 months. In the past year alone, XDC is up 1,355%, which is impressive for any crypto asset, even in a bull market.
As Billy Adams recounts, after joining the team in February, “we created a roadmap and set the course for what was yet to come — exchange listings, marketing making, wallet integrations, new custody solutions, and much more… including more things I can’t talk about… but it’s safe to say that since the start of 2021, XinFin has added significant firepower to our arsenal which has transformed our efforts on all fronts.”
Investors Want What XinFin’s Cooking
There are many ways to measure the progress of a blockchain, from node count to token price. One metric that attests to XinFin’s evolution over the past year is demand for its native asset. With over $3 million of trading volume in the past 24 hours, XDC is evidently still very much a going concern. The bulk of this trading took place on Bitfinex, but the token is also listed on KuCoin, where it’s also seen robust demand.
Like many next-generation blockchains, XinFin utilizes a Proof of Stake (PoS) consensus mechanism, making it more environmentally friendly than Bitcoin or Ethereum in the latter’s current incarnation. There’s more to XinFin than simply carbon-neutral credentials however: throughput is another selling point, with the chain capable of processing thousands of transactions per second.
Designed for enterprise usage, XinFin is reaching maturity at a time when demand for PoS chains is rising. The next step for the high-speed blockchain is to demonstrate sufficient business users to establish itself as the best-placed network for supporting payments, dApps, trading, and much more. Two years after Bitcoin’s debut, the first crypto network wasn’t seeing a whole lot of usage and was scarcely known by the world at large. If XinFin can build upon the foundation it’s laid in its first two years, the stage is set for a bright future in which enterprises flock to the PoS chain in their droves.
As the blockchain’s two-year anniversary blog post wraps up that “there is currently a team of over 40 community members working together to support the project in the areas mentioned above. Our ultimate goal is to have community members across the globe building on and supporting the network. And one of the many ways we are supporting that is through incentives offered by our bounty programs.”
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