XinFin Releases New Address Prefix Starting With XDC

Singapore, 2019-Apr-11 — /EPR Network/ — XinFin today announced the new address prefix starting with XDC. With this implementation, XinFin Network will become distinguishable from other platforms which are also based on go-ethereum codebase. Developer team at XinFin performed a major change in Ethereum Virtual Machine to achieve the unique XDC address prefix. Developer team also changed the various libraries used for dApp.

Based on Delegated Proof of State Consensus algorithm and go-ethereum codebase, XinFin XDC Wallet address will now start with ‘XDC’ in place of ‘0x’. The unique address prefix will help users recognize XDC Wallet address instantly without even mentioning it.

Here is the address creation method used by XinFin. It begins with the private key, which uses ECDSA (Elliptic Curve Digital Signature Algorithm is the cryptographic algorithm in the core of addresses) to create a public key. The public key is then hashed using Keccak-256, which gives us a 32-byte string. XinFin drops the first 12 bytes, and the remaining 20 bytes yield a 40 character hexadecimal address, to which is added an XDC prefix. There’s no transformation to Base58, which means XinFin addresses remain hexadecimal.

“Replacing the ‘0x’ prefix with XDC will make our XDC Wallet addresses easily recognizable for users who often tend to misinterpret wallet addresses for another blockchain due to their ignorance and lack of technical knowledge. With XDC prefix implementation, users can easily perform transactions without losing their tokens. This XDC address prefix implementation was important to eliminate the challenges; a user faces while performing transactions and I am glad, our developer team achieved it”, said Atul Khekade, Ecosystem Development Head, XinFin.

XinFin TestNet is already live at http://xinfin.network/ and LiveNet will be live within a few weeks after thorough testing.

XinFin Masternode

XinFin’s token XDC supplants proof-of-work consensus algorithm with delegated proof-of-stake consensus algorithm, fundamentally using the concept of “validators”. Validators are special (full) nodes which get incentivized for validating each transaction which may be accepted or rejected by the validator. Setting up masternodes on XDC protocol makes the decentralized blockchain network more trusted, more stable and more self-sustainable. Masternodes are also benefitted in the form of reputation building, enhanced reliability, increased incentive gains, and capability to deploy their own dApp/use case on the network. Interested Institutions looking to setup KYC enforced TestNet Nodes, please click here.

TradeFinex

TradeFinex.org has initiated a consortium with open invitations to address peer-to-peer trade finance and asset tokenization of real-world assets. TradeFinex invites Global Public Investors (GPIs), regulators, fintech companies, and financial & government institutions to be a part of the ecosystem who will introduce the right financial instruments, their standardization and will closely work with regulators for holistic business development. Members interested in consortium membership, please click here.

TradeFinex is now evolving into an Open API platform with which many businesses, Fintechs, Rural Bodies, and ERP Systems can connect to. Explore TradeFinex APIs here.

Click here to know more about the consortium event scheduled in June this year.

About XinFin

XinFin is an open source enterprise-ready Hybrid Blockchain for Global Trade and Finance. It combines the power of Public and Private Blockchains with interoperable smart contracts. XinFin is fully EVM compatible. For more information on XinFin, please visit www.xinfin.org or learn more about XinFin in this video.

Developer Community Resource: https://docs.xinfin.org/docs

Follow XinFin on:

Twitter: @XinFin_Official

LinkedIn: https://www.linkedin.com/company/xinfin/

Telegram:https://t.me/joinchat/IDjEOEUaNJNpbeM-c1YtZw