The Ethereum Virtual Machine (EVM) has revolutionized the blockchain landscape, enabling the development of decentralized applications (dApps) and smart contracts. Its flexibility and programmability have attracted countless developers and businesses to build on the Ethereum network. However, as the demand for blockchain solutions continues to grow, scalability and interoperability have become crucial factors. In this article, we will explore the XinFin — XDC Network as an EVM-compatible blockchain, delving into its features and the benefits it offers to developers and users alike.
The Ethereum Virtual Machine (EVM) serves as the runtime environment for executing smart contracts on the Ethereum network. It is a decentralized, Turing-complete virtual machine capable of processing and verifying transactions across the network. This section will provide a comprehensive overview of the EVM, its architecture, and its significance in the blockchain ecosystem.
Introducing XDC Network & EVM Compatibility of XDC Network
The XDC Network is a blockchain platform designed to address the limitations of existing networks, including Ethereum, by providing enhanced scalability, security, and interoperability. This section will introduce XDC Network, highlighting its key features, such as its consensus mechanism, tokenomics, and governance model. Furthermore, it will delve into the XDC token and its role within the XDC Network.
One of the standout features of the XDC Network is its compatibility with the Ethereum Virtual Machine (EVM). This section will explore the technical aspects of XDC Network’s EVM compatibility, discussing the tools, libraries, and frameworks that developers can leverage to seamlessly migrate their existing Ethereum-based decentralized applications (dApps) and smart contracts onto the XDC Network. The EVM compatibility also ensures that the code written for the Ethereum Virtual Machine can be executed flawlessly on the XDC Network, providing familiarity and convenience to developers.
- Low transaction cost
- KYC enabled masternode
- Uses XDPoS Consensus
- Energy Efficient
- High execution speed
- EVM Compatible
The decision to build a blockchain solution on the XDC Network brings several advantages for developers and users. One of the significant advantages of the XDC Network is its ability to offer lower transaction fees compared to other blockchain networks.
The XDC Network incorporates a KYC-enabled masternode system. This feature enhances network security by allowing only verified participants to operate masternodes, ensuring a trusted and compliant ecosystem.
XinFin — XDC Network relies on a system of 108 Masternodes with XinFin Delegated Proof of Stake (XDPOS)consensus mechanism that can support low transaction fees and 2-second transaction confirmation times and secures the XDC Network while consuming virtually zero energy.
This efficiency allows for reduced transaction costs, making it economically viable for users and businesses to participate in the XDC Network. In the fast-paced world of blockchain, speed is crucial. The XDC Network addresses this need with its exceptional execution speed, boasting a block time of just 2 seconds.
The lower transaction fees and fast execution speed contributes to the accessibility and affordability of DeFi applications built on the XDC Network.
Developers can leverage their existing knowledge and tools, such as Solidity and Ethereum smart contracts, to deploy applications on the XDC Network, reducing development time and effort.
The XDC Network stands as a formidable force in the world of decentralized finance, offering EVM compatibility, low transaction fees, lightning-fast execution speed, and energy efficiency. With its focus on security, scalability, and user experience, the XDC Network provides a robust infrastructure for the development of DeFi applications. As the blockchain industry continues to evolve, the XDC Network’s commitment to innovation and its vision of a trust. So let’s Build your dApps on XDC Network. In case of any technical queries on XDC Network, feel free to drop your queries on XDC.Dev forum.
Refer the “The EVM Handbook” to check out the resources regarding EVM.
- XDC Chain Network Tools and Documents
- XDC Network Explorer
- XDC Dev Forum
- Beta — XDC Web Wallet
- XDC faucet
XinFin — XDC Social Links: