What is XinFin network and how to exchange XDC at the best rates
XinFin Network

XinFin Network

 XDC

There is no doubt that blockchain has been one of the most disruptive and breakthrough technologies to ever exist. This is thanks to blockchain’s ability to enable transfers internationally at the fraction of the cost and time. However, the current blockchain infrastructure has become extremely congested and stretched to its limits. Subsequently, this congestion has led to the rise of network fees, thereby dampening any chances of blockchain competing with mainstream technologies such as MasterCard or Visa.

XinFin Network Exchange Rate

XDC by TradingView

Fortunately, a number of organizations have seen this problem and are tirelessly working to create high-efficiency platforms meant to be blockchain scaling solutions. One of the organizations spearheading this charge is XinFin Foundation that’s creating an EVM compatible, PoS-powered smart contracts blockchain known as XinFin. In this article, we are going to decode XinFin and how you can easily purchase the XinFin coin on Swapzone using Bitcoin. Let’s dive in!

What is XinFin?

XinFin is an innovative brainchild of the XinFin Foundation that’s geared towards solving the scalability issues plaguing the Ethereum blockchain. Some of the issues that XinFin is trying to solve include network congestion, high Ethereum transaction fees, and high centralization or lack of interoperability on most blockchains. The XinFin network applies a Masternode architecture of 108 Masternodes that utilize a DPoS consensus to enable low transaction fees and fast two-second transaction confirmation times.

The network maintains stability and security through a number of techniques such as randomization, double validation, and staking through smart contracts. Additionally, XinFin supports EVM compatible protocols, smart contracts, and atomic cross-chain token transfers. The network also utilizes and integrates novel techniques such as sharding, EVM parallelization, hardware integration, and private-chain generation into the Masternode architecture. Therefore, XinFin is a decentralized, public, and scalable smart contract blockchain that’s ideal for both big and small businesses.

Does XinFin have its own coin?

XinFin is the native cryptocurrency of the network most commonly known by its ticker symbol XDC. Additionally, it’s also the reserve crypto for all third-party apps running on the XinFin network. All users utilizing the XinFin network to build apps or issue or integrate cryptographic tokens in their apps will need XDC. Therefore, the XinFin coin plays an integral part in the XinFin ecosystem. Other reasons why XinFin coin is important include:

  • It’s used to fund any and all development efforts of the XinFin ecosystem.
  • It’s utilized as an incentive to build and maintain the XinFin network and ecosystem.
  • It’s a long-term, decentralized governance instrument of the XDC network.

Additionally, XDC cryptocurrency is not mineable in the traditional way. It is only mineable through Masternodes. Masternodes are specifically responsible for the creation, verification, and finalization of blocks known as epoch. The block rewards are paid for each epoch, which lasts for about 30 minutes. XDC coins can be stored in an XDC wallet. Wallets that support XDC include the XinFin Web Wallet, the Guarda wallet, and the XDC Android wallet.

XinFin Hybrid Blockchain

XinFin uses a hybrid blockchain architecture that’s forked from both Ethereum and Quorum. This hybrid architecture combines the best of both the private and the public blockchain. The private chain ensures that all sensitive financial data remains secure while the public chain ensures that the blockchain remains transparent and verifiable. Thus, XinFin is highly interoperable with other blockchain platforms. The hybrid nature of the blockchain ensures that the XinFin network is able to remain speedy, secure, and scalable.

XinFin Partnerships

The XinFin network is working tirelessly on building and elevating its network and ecosystem. Therefore, it has secured partnerships from all manner of fields such as gaming, IT, robotics, agriculture, education, payments, communication, advertising, pharmaceuticals, tourism, and food traceability. Some of the partnerships and alliances that XinFin has made are with companies such as Sota Tek, R3, Assocham India, Circle, IndSoft, Copper, Ramco, and Temasek Polytechnic. More information on these partnerships and their outcomes can be found on XinFin’s official communication channels.

How to buy XinFin coin with Bitcoin on Swapzone?

Wondering where to buy Xinfin coin? Don’t worry, Swapzone is one of the best XinFin coin exchange platforms in the crypto market today. To conduct a XinFin exchange on Swapzone just follow these easy as pie steps:

  • Locate the “select pair” tab, and insert the number of Bitcoins that you are willing to swap in the “send” section.
  • In the “get up to” section, you will see the amount of XinFin crypto to receive for your BTC.
  • Immediately after you enter the details, Swapzone will provide you with a number of offers. You have the option to choose based on the best rate, fastest exchange time, and the one with the best service rating.
  • Worried about the validity of a particular exchange? Fret not, Swapzone has taken an extra step to ensure that information about each exchange partner has been added on the platform. This information includes reviews, pros, and cons. To access this information, simply click on the exchange and you will automatically see it.
  • Once you find an offer you like, simply click on it and click on “exchange”.
  • Once you do so, you will be prompted to enter the XinFin wallet address to receive your XDC crypto, an address to refund you, and an email address (which is optional).
  • Once you’ve entered these details, hit on “proceed to exchange”.
  • After your deposit is received, the exchange partner will then convert your Bitcoin deposit to XinFin. Just wait for the process to finalize. It may take some time.
  • Once the process finalizes, you will receive your XDC coins in your wallet. Take a moment to rate the exchange partner and leave behind an honest review.

Popular pairs to convert XinFin Network

Frequently asked questions

What is the XinFin Network exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store XinFin Network?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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