Ethereum, which is currently the 2nd-largest global blockchain network, has struggled with scaling issues for a while. The proof-of-work model’s inability to scale demonstrates that blockchains implementing this consensus process are limited to transaction throughput rates of a single digit.
It is evident to any developer who has attempted to create a widely utilized decentralized application that Ethereum isn’t nearly ready in its current form. Because transactions take so long to clear, the user experience is terrible. Every basic function needs to be paid. Everything comes down to a generic “scalability” issue, and cost and poor throughput have been significant roadblocks to any severe adoption.
Ethereum has decided to take a specific course of action. While Ethereum 2.0 may be one of the most ambitious blockchain projects, it is a major step towards decentralization. If it goes as planned it will.
The Ethereum blockchain’s and other top blockchain platforms’ scalability issues have an inventive answer in the form of the XDC Network. The XDC Network’s 108 Masternodes, which make up the XinFin delegated proof of stake (XDPoS), consensus architecture, allow for low transaction fees and fast transaction confirmation speeds. Simple randomization and double validation are two of many innovative ways to ensure safety, stability, trust, and transparency.
EVM compatible smart contracts and protocols as well as atomic cross-chain token transfer are all supported by the XDC Network. The Masternode Architecture of the XDC Network will continue to investigate new scaling methods such as Sharding and EVM parallelization. Private-chain creation and hardware integration are just a few of the many examples. It will provide the ideal scalable smart contract public blockchain that can be used for token issuances and integrations. Currently, multiple projects are already built on XDC Network, and it can be found among the utilities of XDC on XinFin’s official website.
With its practical and secure consensus protocol, XDC Network addresses the traditional blockchains’ primary bottlenecks. XDC Network, an Ethereum-compatible, Ethereum-competitive and trustworthy blockchain platform offers a solid foundation for all types of blockchain innovation.
XDPoS2.0, a new consensus engine, was created exclusively for XDC. With a full year of beta testing necessary before the new protocol is scheduled to be implemented in the first quarter of 2023, XDPoS 2.0 is viewed as a significant milestone and by far the most complex upgrade since the XDC Network’s inception.
This upgrade which is fully compatible with APIs is based upon the most advanced BFT consensus mechanism will allow the XDC Network to achieve military-grade security, performance, and resource efficiency. Additionally, it will clear the way for the XDC Network’s future development. Multiple tools such as Origin – Token creation Platform, Remix, Explorer, Tools & documentations are available to help the newbies planning to build on XDC Network. The development conversations on Xdc.dev are already active, which is a forum for blockchain developers. It serves as an information hub for all things blockchain engineering, with tools and support.