Atul Khekade, co-founder of Xinfin Network, while answering questions on Crypto Eri YouTube channel on 20th November, has updated the community with exciting updates concerning the blockchain’s core vision, road maps, and cleared clouds of confusion on updates from Corda’s XDC project.
While answering foundational questions about the network, Atul replied that the name Xinfin originated from eXchange INFINite. This is because the project wishes to interconnect several trade enterprises in a trustless peer-to-peer system. He stated that Xinfin Hybrid blockchain specializes in unattended aspects of trade finance just like ripple is focusing on micro-payments that are not covered by SWIFT. On the first layer, Xinfin looks like Eth2.0 but even much more than that, in use cases, it solves basic challenges of trust between players in the world’s trade finance.
Atul stated that there have been implementations with which the team at Xinfin ran Proof of Concepts (PoC) to showcase the potential of the blockchain. He reported that Validus is the first that focuses on trade financing and settlements. He said that there are two to three more implementations and two banks, the names of which are withheld.
Short term Goals
When asked about short term goals, Atul reported that Xinfin developers are focusing on liquidity for the short term to attract enterprises. He stated that liquidity holds access to enterprises using the network. They want to see some liquidity before they begin to use the network to settle trades. To achieve this, a good exchange is needed and also incentivization of market makers so “that they increasingly use the network”. The first step to achieving this, according to him, is the Bitfinex listing.
Another short term goal of the developers is the actual use of XDC in projects. This will further increase the visibility of the platform and also boost its liquidity.
Xinfin developers are developing a decentralized swappable function to encourage the interoperability of the blockchain with other existing blockchains. XDCE token exists for this purpose on Ethereum. Atul Khekade stated that the coin will also be on other blockchains, an example is the XDC on Corda.
Clearing the Corda’s XDC Confusion
The Xinfin co-founder stated that it was a surprise to the team at Xinfin network that Corda released news about the XDC project forgetting they had a connection with a project which has that same ticker. He reported that they contacted devs at Corda and because of the love they had for each other, what seemed to be confusion at first matured into collaboration. He said that the XDC on Corda will be the XDC on Xinfin. The XDC on Corda will have its ticker. Details about the collaboration and the explanations on XDC on Corda will come later.
Xinfin developers are working round the clock to ensure a very exciting future for the community members. They have been very active and behind the scenes most times. It is evident that whenever they come out to speak, they come with loads of good news. The Currency Analytics congratulates developers at Xinfin Network for their achievements and wishes them the best as they cross more great milestones.
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