Although blockchain technology can no longer be called a novelty, its adoption by businesses has been relatively slow. Blockchain developers are quite aware of this, and many blockchain projects are targeting this very large niche. In this article, we will discuss a project called XDC Network. We will explore its origins, advantages and disadvantages, as well as examine its native XDC token and price predictions.

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What is XDC Network (XDC)?

The XDC Network is an enterprise-grade hybrid open-source blockchain protocol specialising in the tokenisation of real-world assets and financial instruments in the trade finance industry.

I think the community needs to know: there's no 'one thing to rule them all' kind of thing. If you just do one per cent or five per cent of one use case really well, then you can be really successful in this market. — Atul Khekade, Co-founder of XDC Network.

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The history of XDC Network

The XDC Network blockchain protocol was created by XinFin Fintech Pte. Ltd, which was founded in 2017 by serial entrepreneur and blockchain engineer Ritesh Kakkad, a computer engineer with many years of business management experience, Atul Khekade and blockchain architect Karan Bhardwaj. Karan Bhardwaj left the company in 2018 to start his own startup Elatior Tech. The company is headquartered in Singapore.

To fund the platform, an ICO was held in March 2018, which raised $15 million. In June 2019, the XinFin mainnet was launched.

In 2021, the XDC Foundation was founded, a non-profit organisation dedicated to supporting the growth and development of the platform.

XDC Network's features

The XDC Network is an enterprise-grade Layer 1 blockchain network. The XDC Network's blockchain is Ethereum Virtual Machine (EVM) compatible, which allows it to run Ethereum smart contracts.

The XDC Network combines features of public and private blockchains and is a hybrid blockchain protocol. It offers the transparency, decentralisation and immutability of public blockchain, along with the increased security, compliance and efficiency of private blockchain.

The XDC Network uses its own variation of the DPoS (Delegated Proof-of-Stake) consensus mechanism, called XDPoS. It relies on a system of 108 trusted Masternodes that are responsible for confirming transactions and ensuring network security. Despite its low level of decentralisation, this consensus mechanism offers a number of advantages, including fast transaction times, high throughput, very low transaction fees and extremely high energy efficiency. Novel techniques, including Double Validation and Randomisation, are used to further enhance network security.

Being a platform designed for use by enterprises, the XDC Network provides several features tailored for enterprise use, such as permissioned private networks, access controls, and KYC (Know Your Customer) compliance. These features make it suitable for various industries, including global trade and finance, supply chain management, healthcare, and infrastructure development. Furthermore, the XDC Network is compatible with the international financial messaging standard ISO 20022, which increases its compatibility with the traditional financial system.

XDC coin is the native token of the XDC Network and is used for paying transaction fees, deploying smart contracts and making settlements within the network.

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XDC Network (XDC) price analysis

As of 07 April 2023, the XDC token ranked 82nd among cryptocurrencies by market capitalisation at $560,087,095.

XDC price statistics (as of 07/04/23)

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XDC's price history

XDC coin was listed on cryptocurrency exchanges in early 2018. Thereafter, the price started to decline and reached its all-time low in June 2019. After a while, the price began to recover, but XDC had relatively low trading volumes until the spring of 2020. In May 2021, the trading volumes and price rose sharply. Growth then continued more smoothly until February 2021, when the XDC price surpassed $1.00. This was followed by a rapid rise that continued until it reached an all-time high in August 2021, after which the price began to fall. In the summer of 2022, the decline turned into a sideways movement, which continued until March 2023.

XDC technical analysis

In December 2022, the price broke through the downtrend line and bounced back after retesting it, indicating the start of a bullish trend.

On 15 March 2023, the price broke through the resistance level of $0.03, which was simultaneously the upper boundary of the ascending triangle pattern. A bullish pennant is forming on the chart at the moment, indicating an increased likelihood of further growth. However, the MACD indicates bearish sentiment. The nearest support levels are $0.036 and $0.03. The nearest resistance levels are $0.046, $0.055 and $0.065.

XDC Network price prediction 2023

The XDC price is currently in a bullish trend, and should the crypto market as a whole continue to rise, it's highly likely to follow it. However, in case the current growth of the crypto market turns out to be only a temporary rebound, the same is expected for the XDC.

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XDC Network coin price prediction for 2023, 2025, 2030 and 2040

Popular cryptocurrencies in the Top 100 by market cap tend to attract the attention of forecasting services. Let's take a look at the XDC long-term price predictions they made.

CryptoNewsZ's XDC price prediction for 2023, 2025, 2030 and 2040

According to CryptoNewsZ's prediction, the XDC's price will rise in the coming years. They expect the price of the coin to reach $0.0679 in 2023, $0.0744 in 2024, $0.0999 in 2025, and $0.249 in 2030.

Cryptopolitan's XDC price prediction for 2023, 2025, 2030 and 2040

Cryptopolitan also expects the XDC's price to rise. According to their estimates, the average price of the token will be $0.039 in 2023, $0.055 in 2024, $0.084 in 2025, and $0.51 in 2030.

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DigitalCoinPrice's XDC price prediction for 2023, 2025, 2030 and 2040

DigitalCoinPrice agrees that the price of the token will rise. They believe XDC's price will reach $0.0878 at the end of 2023, $0.0968 at the end of 2024, $0.14 at the end of 2025 and $0.40 at the end of 2030.

Price Prediction's XDC price prediction for 2023, 2025, 2030 and 2040

The forecast made by Price Prediction is not much different from the rest. They believe the average price of the XDC token will be $0.053 in 2023, $0.077 in 2024, $0.12 in 2025, and $0.78 in 2030.

PickACrypto's XDC price prediction for 2023, 2025, 2030 and 2040

The prediction made by PickACrypto is, as usual, very optimistic. They think the price can visit the $2-$5 range in 2023-2025.

CryptoPredictions'XDC price prediction for 2023, 2025, 2030 and 2040

CryptoPredictions expects a slow but steady rise in the XDC price in the coming years. According to them, the average price will reach $0.346 by the end of 2022, $0.351 by the end of 2023 and $0.512 by the end of 2025.

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XDC Network (XDC) overall future value predictions

Is XDC Network coin a good investment?

While the XDC Network is a more niche project than many platforms that seek to embrace as much functionality as possible, the niche it has chosen is huge, with relatively little adoption of blockchain technology yet.

The project has a number of notable advantages that have a positive impact on its prospects:

• Real-world use cases. The XDC Network is designed to cater to the needs of enterprises and offers features specifically tailored for various industries, such as global trade and finance.
• Scalability and high throughput. The XDC Network is designed to be scalable and capable of processing a high number of transactions per second. Moreover, the cost of transactions is very low.
• Energy efficiency. The XDPoS consensus mechanism used in the XDC Network is even more energy-efficient than Proof-of-Stake blockchains.
• Strong team and ecosystem: The XDC Network is supported by a strong team of developers and has a growing ecosystem of partners and users.
• Novel solutions. The XDC Network blockchain employs a number of innovative solutions, such as Double Validation and Randomization.
• Hybrid blockchain protocol: The XDC Network combines the benefits of both public and private blockchains, providing a hybrid blockchain protocol.

Besides its advantages, the project also has some disadvantages, which are worth mentioning and taking into account when making investment decisions:

• Competition. XDC Network is not the only blockchain project positioning itself as a "blockchain for businesses". While the niche chosen by this project is vast, there is competition, and it's growing, not to mention the fact that many of the more global blockchain platforms are also competing for this market.
• Centralisation concerns. As XDC uses the hybrid blockchain protocol and the XDPoS consensus mechanism, there are concerns about the concentration of power and its potential impact on decentralisation.
• A large number of tokens are not in circulation. Just over a third of the total number of XDC tokens are currently in circulation. If a large number of tokens that are not in circulation get dumped on the market, the price could fall considerably.

How high can the XDC coin go?

If the project keeps developing successfully, the price of the XDC token has a chance of exceeding $0.50 in the long run.

XDC Network (XDC) price prediction today

Although a bullish pennant has formed on the chart, the MACD indicates a chance of a correction. Opening a long position would make sense if the price breaks the pennant upwards.

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