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XDC Network is an innovative blockchain solution to the scalability problem of the Ethereum blockchain and other current blockchain platforms. XDC Network utilizes a system of 108 Masternodes with the XDC Delegated Proof of Stake (XDPoS) consensus that can support low transaction fees and 2-second transaction confirmation times. Security, stability and chain finality are guaranteed via novel techniques such as double validation, staking via smart contracts and true randomization processes.
XDC Network supports all EVM-compatible smart contracts, protocols, and atomic cross-chain token transfers. New scaling techniques, such as sharding, EVM parallelization, private-chain generation, and hardware integration, will be continuously researched and incorporated into XDC Network's Masternode architecture. It will be an ideal scalable smart-contract public blockchain for decentralized apps, token issuances and token integrations for small and big businesses.
The problems that XDC Network aims to solve can be summarized as follows:
- The network congestion on Ethereum (high transaction time)
- High transaction fees on Ethereum
- Lack of interoperability with the Ethereum network realized by most other blockchains that are highly centralized
Blockchain has become one of the most disruptive technologies that enables the creation and deployment of many decentralized applications. These include but are not limited to cryptocurrencies, smart contracts and supply chain management. Blockchain proponents have been trying to inject it into the Industry 4.0 revolution era. To reach this goal, the current blockchain infrastructure must compete with many mainstream technologies, such as Visa and MasterCard processors in financial services. The reality is disappointing: Bitcoin and Ethereum can only process around seven and 15 transactions per second, respectively, while Visa and MasterCard transact 5,000-6,000 transactions per second.
XDC Network is rigorously researching several scaling solutions. For on-chain scaling, sharding and the PoS consensus can potentially improve transaction processing performance significantly while maintaining the system's security requirements.
XDC Network relies on a system of 108 Masternodes with XDC Delegated Proof of Stake (XDPoS) consensus that can support low fees (approx. 1/100 of Ethereum's fees) and two-second transaction confirmation times. Security, stability and chain finality are guaranteed via novel techniques such as Double Validation (see definition below).
At the heart of XDC Network, the XDC Delegated Proof of Stake (XDPoS) consensus enables XDC Network to operate as an EVM-compatible and scalable public blockchain. Every Ethereum smart contract can effectively run with almost instant transaction confirmation.
XDPoS features its masternode architecture in which token holders deposit 10,000,000 XDC to become a masternode. Masternodes are selected for block creation within a period, called an epoch. Each masternode takes its block creation in a round-robin manner every two seconds and follows the double validation technique for security reinforcement. A block is finalized when 3/4 masternodes sign off on it. At the end of each epoch, the masternodes that have signed finalized blocks are rewarded.
Double validation provides an additional trustless validation layer for security enhancement using a provable uniform distribution and decentralized randomization. Specifically, when a masternode creates a block, it must be verified by another masternode, one that is randomly selected among the set of masternodes before being added to the blockchain. Double validation strengthens XDC Blockchain security, reduces forks, and makes XDC Network unique among other Delegated Proof of Stake-based blockchains.
An epoch is a 900-block period of two-second block time starting from block #1 (900 blocks x 2s/block = around 1800s or ~30 minutes).
XDC Network solutions are on-chain scaling built into an architecture of 18 masternodes with our XDC Delegated Proof of stake (XDPoS) consensus protocol. We achieve 2-second block-time and almost instant transaction confirmation.
To further scale our infrastructure, we have presented our sharding proposal for uniquely integrating sharding into our current architecture and consensus.
Besides sharding, we are actively researching scalability solutions like EVM parallelization and Plasma. New scaling techniques such as sharding, EVM parallelization, private-chain generation, and hardware integration will be evaluated before integrating into XDC Network's masternode architecture.
The unique qualities of the XDC Network comes from technology, the products and the ecosystem.
The novel technology includes:
- XDC Delegated Proof of stake (XDPoS) consensus
- Built-in governance dApp
- Double Validation and Randomization
- Sharding based on a stable masternode architecture
It enables XDC Network to achieve:
- Cheap transactions approximately 1/100 of that of Ethereum
- 2000 TPS to handle a robust d-app and token ecosystem.
- 2 second block time for fast transactions
- EVM compatibility that allows for interoperability with the Ethereum ecosystem.
Our unique products
- XDCScan: Shows all blocks, transactions, finality, smart contracts, dApps and token information
- XDCMaster: Allows users to apply for a Masternode Candidate position and shows Masternode performance statistics
- XDCWallet: Securely stores, sends, and receives XDC and other tokens issued on XDC Network; allows users to track rewards
The XDC Network community is also working vigorously to build the XDC ecosystem and continues to establish many partnerships in fields such as global trade, agriculture, robotics, gaming, IT solution providers, advertising, pharmaceutical tracking, education and research, payment, communication, name service, food traceability and tourism.
On the one hand, all base layer blockchains, such as Ethereum, EOS, NEM, NEO etc., are competitors because app developers or token issuers will generally choose only one blockchain to work on. On the other hand, it is too early to focus on competition as it is more important to expand the whole blockchain ecosystem than it is to compete.
XDC Network has a unique position in which it adds value to the Ethereum ecosystem by addressing scalability and governance issues while keeping the same smart contracts and general architecture.
EVM is the acronym for Ethereum Virtual Machine. XDC Network supports all EVM compatible smart contracts, protocols, and atomic cross-chain token transfers. It means that any smart contract written in the Ethereum protocol can be easily ported to XDC Network. Any dApp written in Ethereum can be seamlessly ported to XDC Network.
XDC Network is its own blockchain that was created from a hard fork of the Ethereum blockchain. XDC Network went live on June 1, 2019.
Yes, any smart contract written in the Ethereum protocol can be easily ported to XDC Network. The strength of that appeals to dApp developers and some of our partners, who are already familiar with the Ethereum ecosystem.
Yes, they can make an app and deploy it to both Ethereum and XDC Network. It is done relatively easily since XDC Network supports EVM and shares a common architecture with Ethereum.
Regarding the security of consensus protocol, XDC Network proposes Double Validation and Randomization to protect the system.
XDC Network solves some consensus related security aspects as follows:
- 1.Byzantine Fault Tolerance: This problem is commonly discussed in PoS-based blockchain consensus and is similar to 51% attacks in PoW. XDC Network solves it by using Double Validation and Randomization. The details are shown in our technical paper.
- 2.Long-range attacks: Attackers can recreate all blocks from a very far position to the current block. Attackers can do that because PoS based consensus does not require extraordinary hashing power to rewrite the whole blockchain. XDC Network addresses this by providing finality. When at least 3/4 of the masternodes sign a block, it is considered irreversible, meaning that any attempt to rewrite the blockchain history will be rejected.
- 3.Distributed Denial-of-Service (DDoS) and spamming attacks: XDC Network's transaction fee is not zero (even though it is very low). Attackers still require a significant amount of XDC to flood the network for only a short time.
You can check our company's XDC Network Pte. Ltd. information on the Singaporean registry. You can also check the ACRA copy if you need more details.
XDC's current office is located in Singapore.
All the code regarding XDC Network is free to consult on our GitHub. It includes the code for the XDC Network blockchain client, governance dApp, block explorer, tools, docker images, documentation, etc.
However, other blockchain-related projects like ReplyBlock have work-in-progress and are not yet disclosed. These projects are usually kept in private repositories.
We like to publish code publicly when it reaches a certain level of development and think auditing and when contributions are beneficial to the codebase. Keeping early projects private is probably more responsible for now due to our scale. It might change in the future.
We are also working with some third parties with which we signed a non-disclosure agreement for code development.
XDC Network is working vigorously to build its ecosystem and has established many partnerships in fields such as global trade, agriculture, robotics, gaming, IT solution providers, advertising, pharmaceutical tracking, education and research, payment, communication, name service, food traceability, and tourism.
You can also find a list of partners willing to run dApps on XDC Network. This list will be updated in the future.
The list of XDC Network Products is as follows: XDCScan, XDCStats, XDCMaster, XDCWebWallet.
XDC is the native cryptocurrency of XDC Network and will be the reserve cryptocurrency for all third-party apps running on XDC Network. Being the protocol token for the XDC Network infrastructure, XDC will be needed by all parties utilizing XDC Network to build apps or issue and integrate cryptographic tokens into their apps.
The supply of XDC is fixed, long-term and non-inflationary.
In addition to the above, XDC is an integral part of the XDC Network for many reasons.
- XDC is used to fund the development of the XDC Network and its ecosystem (XDCScan, XDCMaster, XDCWebWallet, etc.).
- XDC is used to incentivize the building of the XDC Network engine or ecosystem.
- XDC is used as a long-term, decentralized governance instrument of the XDC Network network.
XDC is not mineable but is mintable by masternodes. Masternodes are responsible for creating, verifying and finalizing the blocks created within a period, called an epoch. Masternodes will receive block rewards.
Block rewards will be paid every epoch, lasting 900 of two-second block time (~30 minutes).
We do not discuss exchange-related questions due to the regulation. We announce every exchange news on our official channels regularly.
No, XDC is the native coin of the XDC Network blockchain (XDC01 Protocol).
You can store XDC in XDC Web Wallet and XDC Android wallet.
Yes, XDC Network has a maximum of 108 masternodes with XDC Delegated Proof of Stake (XDPoS) consensus for low transaction fees and instant transaction confirmation. Masternodes create, verify and validate new blocks in the XDC platform.
- Masternode Candidates: Any account can deposit 10,000,000 XDC using XDCMaster to become a masternode candidate. A masternode can resign anytime, but the tokens will be locked for the next 30 days (1,296,000 blocks) after the resignation.
- Rewards: The rewards a masternode receives in each epoch are proportional to the number of signatures it signs. Masternodes will also receive fees from the XDC Network.
XDC Network masternodes started signing blocks and receiving block rewards on the mainnet in June 2019.
An XDC Network masternode is a server that uses its computing power to contribute to the network. Its job is to create and sign blocks. For this contribution to the network, masternodes receive rewards in the form of XDC tokens.
Masternodes contribute to the network, and for this work, they will receive a significant amount of block rewards, which will likely exceed the cost of running the infrastructure. However, masternode owners need to invest in XDC Network by depositing at least 10,000,000 XDC for the long term.
Masternode operators will receive rewards for every epoch. An epoch is a 900-block period of two-second block time (~30 minutes).
You can check your masternode rewards using the XDC web wallet. Alternatively, you can use XDCScan.
Masternodes can sign blocks and receive block rewards.
The first step to become a masternode is to become a Masternode Candidate. To become a Masternode Candidate, you need:
- to run XDC Network software in a machine with certain minimal hardware requirements
- to deposit 10,000,000 XDC in a smart-contract via XDCMaster
We recommend using an IaaS (cloud) provider of your choice (like Amazon AWS, Digital Ocean, Google Cloud GCE, Vultr, etc.). The machine must face the internet directly (public IP, no NAT) and with 100% uptime.
Processing transactions is mostly CPU bound. Therefore we recommend running CPU-optimized servers.
- Directly facing internet (public IP, no NAT)
- 16 cores CPU
- 32GB of RAM
- SSD storage
We recommend using popular cloud providers as their reliability and uptime are close to 100%. Those servers would be a good starting point:
- DigitalOcean: CPU optimized droplet 32GB/16CPU
- Amazon EC2: C5 instance
- Google Cloud Engine: n1-highcpu-16
Setting up a Masternode Candidate on a weaker machine might result in poor performances, significantly impacting the owner's rewards and the chain's performance.
Note: If you are running a node in Testnet, 2CPU/8GB of RAM is sufficient.
It is recommended for security reasons. You can create your wallet from wherever you want. The only rule is that you need two of them. One for your masternode and one to make the 10,000,000 XDC deposit (this account will receive the rewards).
The Coinbase address is the public address used to run your node and register it to the system.
We recommend using two addresses when running your nodes. The public address or Coinbase address will only receive transaction fees. The private address is where you make the initial 10,000,000 XDC deposit, and the block rewards will be collected.
It would be best if you created a wallet for the masternode public address. This wallet does not need to contain any XDC. Think of it as a shell address. You will then stake XDC into the masternode address via your main XDC Web wallet.
You can use the Android apps.
It is recommended to use a separate empty account for your masternode as it only receives transaction fees - what we call public or Coinbase addresses.
The block rewards are sent to the account connected to XDCMaster, who makes the initial deposit - the private address.
No. You must use different public Coinbase addresses. But you can use the same initial deposit (private) address, and then all rewards will be transferred to only one address.
You must apply to become a Masternode Candidate.
After. Your node must be fully synched before applying.
You can watch the logs, but it is easier from the XDCStats website or its eth.blockNumber API call.
Yes, it can.
A masternode will be automatically slashed by the slashing mechanism if the node doesn't validate any block within an epoch.
Some reasons for this might be that the masternode does not have the correct XDC Network software, has a lack of memory, or crashes due to the lack of e-maintenance and operation by the masternode owner.
A slashed node will be kicked out for the next four epochs. At the 5th epoch, after being slashed, the slashed masternode can go back to the candidate list
As many as you can.
If you no longer want to be a masternode, you can resign on XDCMaster. Your masternode will stop generating rewards, and your funds will be locked for 30 days (1,296,000 blocks). After the lockup period, you will be able to withdraw your 10,000,000 XDC deposit.
No. Your old node will be penalized (10,000,000 XDC initial deposit 30-day lockup), and your new node has to apply again.
XDCScan provides a user-friendly, detailed and perfection-oriented user interface for XDC Network block explorer. From a user perspective, XDCScan brings XDCChain’s transparency to users because all block, transaction, finality, smart contracts, dApp and token information are read from XDC Network and shown to users. Furthermore, XDCScan also offers technical visualizations and does useful statistics about the XDC Network performance, token holders and other functionalities.
TxHash stands for transaction hash and is also known as a transaction ID.
An example of what a TxHash looks like: 0x838d33119b33e4519cb201e49bfc570ddc0fbdc6d9cf7038d8254a4de97f7112
To check a TxHash, follow the steps below:
XDCStats shows the various metrics regarding the current mainnet, including the current number of masternodes, masternodes performance, current TPS, block-time, confirmation time, finality and other useful metrics.
It should be less than a minute after the OneClickInstaller command is executed and finished.
XDCMaster, the Governance dApp, provides a professional UI that allows one to see the list of masternodes and candidates, deposit 10,000,000 XDC to become a masternode candidate, vote for masternodes, and show masternode performance statistics.
Go to XDCMaster. On the top-right corner, click Login. Then select how do you want to log in: with Private Key.
The capacity of a candidate is the 10,000,000 XDC initial deposit for that candidate.
A checkpoint block is created for each iteration of 900 blocks (called an epoch), which implements only reward works. The masternode, which takes a turn in the circular and sequential order to create blocks, has to scan all created blocks in the epoch and count the number of signatures.
It is worth noting that token holders who unvote before the checkpoint block will not receive any shared reward in the Staking Reward portion.
If you don’t want to run your masternode anymore, please remember to resign before shutting down the node.