As the battle for leading cryptocurrency ensues and we witness coins fluctuating the markets every other day, the risk valuation of cryptocurrency exchange keeps increasing for the investor. The cryptocurrency world has shifted from a single POV narrative of Bitcoin to a much more advanced and developed version where factors like energy consumption and extensibility have become more important than the traditional values like total supply etc.
Currencies like XDC and ADA have transformed the usage and applications of cryptocurrency in more innovative ways. Developed at a difference of just 2 years, both of these currencies have utilized PoS — Proof Stakes technology over Bitcoin and Ethereum’s native PoW — Proof of Work to allocate the new coins. While ADA uses random allocation for consensus mechanism, XDC uses delegated consensus which is more advanced and secure as it leverages the node mechanism.
The real catch is the extremely low transaction fees for XDC which is almost 0.00001% of Cardano’s $0.34 per transaction. This is because XinFin’s XDC operates on a hybrid model of blockchain network and all the 37.6 Billion coin supply is pre-mined which ensures the sustainability and eco-friendly effect on the environment.
With an army of innovative developers, XDC has managed to bring up the transaction speed to 2000 TPS as compared to 257 TPS for Cardano’s ADA at a much reduced price of $0.085.
KYC Compliance, Dapps and Smart Contract Support
As the market is currently growing and XinFin is ready to bring in some interesting DAPPs and network functionalities along with multiple business integrations like Custodian solution for Institutional fintech market — the future valuation seems extremely lucrative for the company as the coin has a large scope to grow and outdo it’s competitors.
On the other hand, the technical integration aspects of Cardano’s ADA seems bleak as it doesn’t support the KYC compliance for financial security and application nor has a built in DAPP environment for application extension. In addition to the above two features, XDC has a large community base working on smart contracts (another advantage of the network) and DAPPs which create a huge portfolio to develop an ecosystem ranging around the fintech, hospitality and SCM industry.
Additionally, XDC has utilized the power of custodians so that one touch — KYC and AML checks are able to ease the user experience. Both users and enterprises can purchase XDC while Copper manages the infras that allows organisations to procure, retain, and exchange virtual currencies or financial assets without defying any global investor or regulatory requirements. The transactions are secured from hackers, internal thefts and prevent loss of assets. Hence, the system can even be used to develop more fintech applications.
XDC’s strength is enabled when conforming to the complexity of the DAPP ecosystem. XDC has a huge community of students and developers working on increasing the adoption of the network by developing more such DAPPs. Furthermore, unlike Cardano, there are many such node holders and active community members that mine the coins in advance.
Let’s come to the point..
Hence, in the current setup, XDC seems to be one step ahead of ADA, especially in terms of TPS and transaction costs, which is saved due to problems with the less energy consuming process of minting the cryptocurrency. It is imperative to realise the size of the carbon footprint created by us and minimize wherever possible. With these pointers, making the informed right choice will become much easier for all readers.
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