One of the things that many crypto enthusiasts share in common is their search for the next hidden gem. They are in search of the “diamond in the rough” that will eventually make them extremely rich within a short time. Well, I’m no different! One cryptocurrency project that may very well turn out to be that diamond is Xinfin.
A Brief Explanation of Xinfin
This is a decentralized hybrid blockchain project that offers users a highly secure, permissioned and adaptable blockchain that is focused mainly on global trade finance solutions. Xinfin is simply a shortened form of Exchange Infinite and partners on the Xinfin network can easily share data privately and publicly. The blockchain supports both smart contracts and transaction data.
The project is working toward connecting businesses in different locations around the world via its global network. The Xinfin ecosystem is powered by its native token which is XDC.
So, Why the Excitement about Xinfin?
One of the reasons why this project has great potential both for traders and investors is that they have managed to get the attention of highly established companies within the crypto and fintech industry as many of them have already adopted Xinfin. For instance, they already have solid partners such as R3 Corda and Circle which is obviously a positive development.
These established companies are actually free to choose any solution they like within the crypto space. But when they decide to choose Xinfin even when there are other projects out there, then it’s a sign that the project has so much to offer. Of course, this will eventually lead to more prestigious partners who would be interested in enjoying the benefits Xinfin has to offer.
An excellent reason why Xinfin has been gaining increased popularity is that it offers legacy institutions the opportunity to test the water before they finally embrace decentralized finance (DeFI). People are increasingly getting to love blockchain technology especially because of its transparency.
However, governments, banks and other financial institutions may not really love this transparency. But they all love to use other positive features of distributed ledger technology while ensuring the privacy of some aspects of their business. An excellent reason why this project may end up being the next amazing crypto is its interoperability feature.
Xinfin is interoperable with other tech which implies that it’s possible to integrate it with existing ERP systems as well as banking systems. Some experts in the crypto space actually believe that since Xinfin can connect blockchains to legacy systems, it may eventually turn out to be the lingua franca of core banking systems.
This is one amazing feature that a good number of blockchains within the crypto world lack. Well, some projects have been working on enabling interoperability on their networks for several years now. In the next three to five years, projects that would do well are projects that:
- Make use of the Proof-of-stake algorithm (PoS)
- Projects that offer low cost and high-speed transactions
- Blockchain projects that developers find easy to use
- Interoperable projects that provide real-world multiple use cases
- Projects that offer commercial-grade security
For now, many projects are still making use of the Proof-of-Work algorithm and this includes Bitcoin and Ethereum. The major challenge with PoW projects is scalability and they may not really be sustainable over the long term. However, Ethereum is already working toward implementing Ethereum 2.0 which would also make use of PoS.
In the future, factors that would drive the increased adoption and performance of blockchain projects are real volume and scalability. Also, when it comes to the price of cryptocurrencies, one important factor that will play a significant role is the demand from users which would be influenced by the multiple use cases of a project. When you go through the top 300 projects on CoinMarketCap, you will discover that there are a few projects that have been able to meet most of these parameters.
Xinfin is among the projects I discussed in the book “The Digital World of Crypto Riches.” The book is a collection of the top blockchain projects that fall within these parameters. So, if you’re thinking of learning more about the best crypto projects to invest, go ahead and read the book.
Since Xinfin meets all the requirements for a project that would be around in the future, it presents us with a real opportunity to invest in it. This is because it is building value not just for its native token (XDC) but also for holders of the token.
We’re gradually looking forward to a “bankless” world, but this is something that will not just take place suddenly in a massive economic crash. It’s most likely going to happen in stages and if this really happens, then Xinfin could enjoy amazing benefits. All they would need to do is to simply onboard old institutions. Always remember that before you invest in any crypto project, you need to do your own research. The crypto market is extremely volatile and the best way to avoid losing your money is to get enlightened.