#xdcnetwork #xrp #blockchain #comparison
Blockchain networks have expanded significantly from basic trading use cases to revolutionizing cross-border payments. The need for real-time, cost-effective, and traceable global transactions has driven organizations to seek more robust solutions. However, the current infrastructure still suffers from high costs and sluggish processing speeds. In the world of blockchain technology, XRP (Ripple) and XDC (XDC Network) have emerged as prominent players, each with its unique features and benefits. In this comparison article, we will delve into the advantages offered by the XDC Network and why it deserves your attention.
The XDC Network demonstrates its authenticity and commitment to growth through strategic partnerships and active involvement in the network. The network’s founders have showcased their belief in the project by utilizing a portion of their personal token allocations to secure a substantial $50 million commitment from LDA Capital Limited, a renowned global alternative investment group. This collaboration aims to accelerate the expansion and development of Layer 2 projects within the XDC Ecosystem, driving network adoption and real-world utility. The support from LDA Capital will enable the funding of new ventures and entities focused on enhancing network adoption among both retail and institutional participants, catalyzing on-chain activity and Total Value Locked (TVL), and fostering technological innovation.
In contrast, the firm associated with XRP has stated that it currently operates only four out of more than 130 validator nodes on the XRP Ledger. This indicates a centralized ownership and control over the network. Additionally, the firm’s substantial XRP coin holding, comprising 50 billion coins, accounts for approximately 50% of the total circulating supply. Such concentrated ownership raises concerns about decentralization and poses potential risks to the network’s stability and governance.
Therefore, the XDC Network’s approach of securing strategic partnerships, attracting external investments, and emphasizing wider network participation showcases its commitment to a truly decentralized and sustainable ecosystem.
Let’s check out the other Key points of both the Blockchain Network:
Total Supply:
XRP has a maximum supply of ~100 billion tokens, with a significant portion held by Ripple Labs. On the other hand, XDC has a total supply of ~37.7 billion tokens, providing a controlled and balanced ecosystem.
Setup:
XRP operates on a consensus algorithm called the XRP Ledger Protocol, which utilizes a network of validating servers. In contrast, XDC employs a hybrid consensus mechanism, combining proof-of-stake (PoS) and delegated proof-of-stake(DPoS), ensuring enhanced security and decentralization.
KYC Enabled Masternode:
XDC Network introduces the concept of KYC-enabled Masternodes, offering an additional layer of trust and compliance. This feature enables enterprises and businesses to confidently participate in the network, ensuring regulatory compliance and fostering wider adoption.
TPS (Transactions Per Second):
While XRP is known for its high TPS capability, with an average throughput of 1,500 transactions per second, XDC Network surpasses it with a staggering capacity of 2,000 transactions per second. This superior TPS of XDC ensures swift and efficient transaction processing, making it an ideal choice for high-volume applications.
Transaction Cost:
When it comes to transaction costs, XDC Network offers a significant advantage. The average transaction cost on XDC is notably lower compared to XRP, resulting in cost savings for users. For instance, a recent transaction on XDC had a transaction cost of only 0.000026806 XDC(0.000000841708 USD), exemplifying the affordability and accessibility of the network.
Transaction Execution Time:
XDC Network sets a new standard for transaction execution time, boasting ultra-fast confirmation times. On average, XDC transactions are confirmed within 2 seconds, ensuring near-instant settlement and enabling seamless real-time transactions.
Token Burning Facility:
One of the notable features of XDC Network is its token burning mechanism. XDC employs a deflationary model by periodically burning a portion of the tokens, thereby reducing the total supply. This practice promotes scarcity, enhancing the token’s value and encouraging long-term investment.
Final Verdict — Why You Should Focus on XDC Network: With its superior TPS, lower transaction costs, faster execution time, and token burning facility, XDC Network emerges as a compelling blockchain solution. The platform’s KYC-enabled masternodes provide an added layer of trust and compliance, making it an attractive choice for enterprises. If you are looking for an efficient and cost-effective blockchain network that prioritizes scalability and decentralization, XDC Network should be on your radar.
In conclusion, while XRP has its merits, the XDC Network’s unique features and benefits position it as a formidable contender in the blockchain space. Its technical capabilities, cost-efficiency, and commitment to compliance make XDC Network an ideal choice for businesses and individuals seeking a reliable blockchain solution.
Quick links:
- XinFin.org
- XDC Chain Network Tools and Documents
- XDC Network Explorer
- XDC Dev Forum
- Beta — XDC Web Wallet
- XDC faucet
XinFin — XDC Social Links:
