The Market Report on XinFin (XDCE/USD)
XinFin uses the XDC coin and claims to have developed a blockchain that can host public and private networks. Companies will be able to use the private networks to create dApps.
XinFin has built the XDC blockchain supposedly can support a large public network and a number of private networks that can be privately run by companies for numerous purposes, such as developing dApps.
XinFin has a keen interest in helping bridge the gap between infrastructure projects and investors and have already developed a number of dApps for their platform that can be used for the financial world.
XinFin is building a multi-layered blockchain that utilizes public and private networks.
According to XinFin’s About Us page, XinFin is a non-profit foundation that believes that the lack of government sponsoring hinders a number of infrastructure projects around the world.
Currently, their team features a number of fairly successful names in the cryptocurrency world from across the globe, with an eager interest in spreading blockchain technology across Africa. Most of the team can be found on LinkedIn.
XinFin was founded by Peter Yeo and Ritesh Kakkad. Peter Yeo is particularly famous for previously founding Cloudmining.sg which managed to raise a million USD and mined a considerably large portion of Litecoin.
XinFin also has a prominent list of advisers, which includes Roger Ver, Mate Tokay, and Jason Butcher, all of which are heavily influential in the crypto world. XinFin has offices in San Francisco, London, Singapore, and Melbourne.
According to XinFin’s Protocol page, they plan to build what they call the XDC blockchain. They claim that can it will be able to host both a large public network and smaller private networks that operate around it for private companies. The private networks will intertwine with the public network when they need to.
The public network will be open to everyone, including individual users who will be able to make transactions on it, such as buying and selling with the XDC coin. The blockchain will utilize masternodes who will have the ability to open the smaller private networks, and on these networks, information is not shared with the public.
Masternodes will also be able to do a number of other special features, such as run dApps on their private network and will also be able to be a part of a number of different private networks. It should be mentioned that to become a masternode, you need to obtain a stake in the company.
Though XinFin says that they are primarily interested in helping investors fund infrastructure projects, they also appear to have an active interest in building financial dApps that work on top of their platform and are ‘fueled’ by the XDC coin.
These dApps provide services for the travel industry, supply chain, invoice factoring, private blockchain networks, and also, for TradeFinex.
It is highly likely that these dApps are a way for XinFin to attract more investors to their network, but it may be possible that over time this will become their primary objective infrastructure projects will be sidelined.
By creating a multi-layered blockchain, XinFin is in direct competition with other cryptocurrencies that have come to the public’s attention in recent months, such as Cardano, which uses two blockchains - one for transactions, another for other purposes. However, XinFin sets itself aside from Cardano by offering a public network that can be integrated with a number of private networks.
Perhaps the best example of XinFin operating as a service is TradeFinex, which uses the XDC coin for its transactions. It is highly likely that much of XinFin’s success will be tied to how well TradeFinex performs. Those who are interested in purchasing XDC can download a free ewallet from XinFin.
XinFin is fairly active online in social media. They have a Facebook page, XinFin, which has a number of articles about their technology, as well as videos and pictures from events they have attended.
Despite posting relatively frequently with only a day or two between posts, the page is yet to gain a large following with only 621 likes and 648 follows. However, on Twitter, where XinFin can be found as @XinfinF, they are a lot more popular with 4,242 followers, though much of the content is the same.
Valuation of XinFin (XDCE/USD)
The token price today is $0.00060055 according to Coingeckco.
It has appreciated by 22 percent in the last 24 hours.
Though it is early to say, XinFin does seem very stable and has a unique selling point - combining public and private networks. That said, they still have a lot of work to do to spread the news about their technology.
It is likely that they will attempt to reach out more to the financial world than average cryptocurrency users, but they shouldn’t rest that entirely on the success of TradeFinex.
Most importantly, XinFin has the potential to be particularly successful if they are able to bring together investors and infrastructure projects in the developing world.