Source : coinquora.com
- XinFin’s XDC Network update on its XDPoS consensus protocol going live on 2nd December 2021.
- The change means downloading Andromeda would be mandatory if you wish to stay connected to the XDC Network.
- The update will increase transparency and trust in the XDC future as a store of wealth.
According to the timer on BlocksScan.io, XinFin’s XDC Network update on its XDPoS consensus protocol will go live at block number 38383838 on December 2nd, 2021. The XinFin DPoS 2.0 is the next-generation decentralized consensus engine by the XinFin XDC Network.
In terms of APIs and data, the upgrade will be fully backward-compatible. The XDC network will continue to extend the current public ledger from the XDPoS1.0 version after the update. Not to mention, APIs for browsers, exchanges, wallets, and other services will also be fully backward compatible.
Based on the most modern BFT consensus mechanism, it will provide the XDC Network with military-grade security and performance while requiring very little resources and will be completely backward-compatible in terms of APIs. It will also lay the way for the XDC Network’s future evolution.
Similarly, the main invention is a comprehensive integration of accountability and forensics in blockchains — the ability to detect malicious actors with cryptographic integrity directly from the blockchain records. Hence, combining the latest peer-reviewed academic research with state-of-the-art engineering designs and implementation plans.
Notably, the XinFin DPoS 2.0 upgrade is the effort of a few exceptional brains, including protocol scientists and Ph.D. professors who have spent years working on research and development. Pramod Viswanath, Gerui Wang, Jerome Wang, Liam Lai, and Fisher Yu, are among the cast members.
The modification is notable for being a backward-incompatible upgrade, which means that if you want to stay connected to the XDC network when this protocol is activated, you’ll need to download Andromeda.
The XinFin XDC Network’s Mainnet Will Give These five Vital Features
- This major update will supply Ethereum’s EVM-compatible projects to move to XinFin Network with numerous advantages. These include, near-zero gas fees, 99% less energy consumption for the block network as compared to PoW Network. And also, 2-second block finality system, which is much better than a few minutes in other PoW-based networks.
- Instead of going to the coinbase/address, the miner’s transaction fees will instead go to the owner’s address.
- The system will be more secure with the Eth_chainId. This is due to advancements in protection transaction replaying. Also, it will give military-grade security, with forensic monitoring to detect errant nodes.
- The upgrade resolves the issue of master node owners receiving fewer rewards. Nodes will be encouraged to join and maintain the XDC Network as a result of the increased benefits.
- Multiple miners’ addresses that could cause a block creation delay on the Mainnet are handled in the upgrade.
Additionally, many projects have recently begun to deploy on the XinFin XDC Network due to the advantages of the XDC Network over the Ethereum Network. On the XDC Network, two additional DEXs will be launched soon, with all XRC20 Tokens listed.
XDC is one of the most rapidly rising cryptocurrencies, ranking in the top 100 coins on Coinmarketcap. The underlying fuel for the XinFin Network, XDC, was trading at 0.09 USD on platforms like Kucoin, Gate.io, Bitfinex, and Liquid at the time of writing.
According to Block Explorer, there are around 500 contracts already deployed on the network, with over a million active wallets.
Even more, the update will increase transparency and, as a result, trust in the XDC future as a store of wealth, which should lead to an increase in investor interest. The price will rise in pairs with the increase in demand. Many analysts believe that the latest upgrade has given XDC Network the firepower to take on Ethereum, which has recently demonstrated extreme volatility.