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Wrapped XDC (WXDC) is a token created on the Ethereum blockchain, adhering to the ERC-20 standard. It represents a wrapped version of the XDC token from the XDC Network, a hybrid blockchain platform that combines public and private blockchain features. WXDC is traded on decentralized exchanges, with the most active trading pair on XSwap. The token's price is calculated by aggregating data across multiple exchanges and markets, and it has a circulating supply of approximately 225 million tokens.
Wrapped XDC (WXDC) is a cryptocurrency token that can be used for various purposes within the XDC Network ecosystem. Here are some ways WXDC is utilized:
Trading: WXDC can be traded on decentralized exchanges like XSwap, Globiance, and Fathom DEX, allowing users to buy and sell the token for other cryptocurrencies or fiat currencies.
Payment: WXDC can be used as a form of payment for services and transactions within the XDC Network, leveraging the network's fast transaction processing capabilities.
Smart Contracts: WXDC is compatible with Ethereum Virtual Machine (EVM) and supports interoperable smart contracts, enabling users to scale their projects and interact with other blockchain platforms.
Delegated-Proof-of-Stake (XDPoS): WXDC is part of the XDPoS consensus mechanism, which ensures the security and speed of the XDC Network by incentivizing validators to participate in the network's governance.
Wrapped Token: WXDC is a wrapped version of the XDC token, allowing users to access the XDC Network's features and services while maintaining compatibility with other blockchain platforms.
These uses highlight the versatility and functionality of Wrapped XDC within the XDC Network ecosystem.
To store Wrapped XDC (WXDC) tokens securely, it is recommended to use a cold wallet, which is a wallet that is completely offline. There are two types of cold wallets:
Paper Wallet: This is created by generating public and private keys offline and printing them on a piece of paper. The keys are printed in the form of QR codes, which can be scanned for future transactions. This method is simple and secure, but it requires careful storage of the paper to prevent loss or damage.
Hardware Cold Wallet: This is a physical device that stores your cryptocurrency. Your crypto addresses and keys are kept in a USB drive device, and only the person with the USB drive can access the assets. Hardware cold wallets are popular for storing large amounts of coins or tokens, as they provide an additional layer of security against hacking and unauthorized access.
To buy Wrapped XDC (WXDC) tokens, you can follow these steps:
Choose an Exchange: Wrapped XDC can be traded on decentralized exchanges. The most popular exchanges to buy and trade WXDC include XSwap, Globiance, and Fathom DEX.
Create an Account: Sign up for an account on the chosen exchange. This typically involves providing personal information and verifying your identity.
Deposit Funds: Deposit the necessary funds, such as cryptocurrencies or fiat currencies, into your exchange account. The specific payment options available may vary depending on the exchange and your location.
Place an Order: Use the deposited funds to place a buy order for WXDC tokens. You can set the desired price and quantity of tokens you want to purchase.
Store Your Tokens: Once you have purchased WXDC tokens, it is recommended to store them in a secure wallet, preferably a cold wallet, to ensure the safety of your assets.
By following these steps, you can successfully buy and store Wrapped XDC tokens.
Wrapped XDC (WXDC) is the wrapped token of the native coin XDC, which is part of the eXchange inFinite (XinFin) blockchain network. This network uses a delegated Proof of Stake consensus mechanism, ensuring fast transactions and interoperability.
Wrapped XDC has a market capitalization of $7,805,844 and a circulating supply of 222,352,749 WXDC tokens. The token can be traded on decentralized exchanges such as XSwap, Globiance, and Fathom DEX, with the most active trading pair being PLI/WXDC on XSwap.
Historically, Wrapped XDC has experienced significant price fluctuations. Its all-time high was recorded on August 4, 2023, at BTC0.053093, while its all-time low was on December 13, 2022, at BTC0.064890. The current price is lower than the all-time high but higher than the all-time low.
Wrapped XDC's price performance is influenced by market trends and can be compared to its peers in the Smart Contract Platform category. The token's price is calculated in real-time by aggregating data from multiple exchanges and markets.
Overall, Wrapped XDC is a token that can be invested in and traded on various exchanges, with its price and market capitalization subject to market forces and trends.
Wrapped XDC (WXDC) is a token created on the Ethereum blockchain, designed to represent a wrapped version of the XDC token. This allows users to leverage the features of the XDC Network within the Ethereum ecosystem. Here's how it works:
Key Features- Wrapped Token: WXDC adheres to the ERC-20 standard, making it compatible with Ethereum-based applications and services.
- Hybrid Blockchain: The XDC Network combines public blockchain transparency with the speed and security of private networks, enabling fast transactions, interoperability, and enhanced security.
- Consensus Mechanism: The XDC Network uses a delegated-Proof-of-Stake (XDPoS) consensus mechanism, which facilitates fast transactions and interoperability.
- Wrapping XDC: Users can wrap their XDC tokens using the xSwap Protocol on the XDC Network. This process involves connecting a wallet to the xSwap platform, selecting the amount of XDC to wrap, and confirming the transaction.
- Ethereum Environment: Wrapped XDC allows users to utilize the XDC Network's features within the Ethereum environment, enhancing the overall user experience and usability.
- Interoperability: The XDC Network supports interoperable smart contracts and Ethereum Virtual Machine (EVM) compatibility, making it easier for projects to scale.
- Decentralized Exchanges: WXDC tokens can be traded on decentralized exchanges like XSwap, Globiance, and Fathom DEX.
- Market Performance: The price of Wrapped XDC is calculated by aggregating data across multiple exchanges and markets. It can be influenced by various factors such as trading volume, market capitalization, and sentiment.
- Developer Activity: The Wrapped XDC project has seen significant developer activity, with numerous commits and contributions to its GitHub repositories.
- Security: The XDC Network's delegated-Proof-of-Stake consensus mechanism and hybrid blockchain design aim to provide enhanced security for users.
Overall, Wrapped XDC (WXDC) serves as a bridge between the XDC Network and the Ethereum ecosystem, enabling users to leverage the benefits of both platforms.
Wrapped XDC (WXDC) has several strengths that contribute to its value and potential in the cryptocurrency market:
Hybrid Blockchain Platform: WXDC is part of the XDC Network, which combines the transparency of public blockchains with the speed and security of private networks. This hybrid architecture allows for streamlined financial services and efficient transactions.
Delegated Proof of Stake Consensus: The XDC Network uses a delegated-Proof-of-Stake (XDPoS) consensus mechanism, enabling fast transactions, interoperability, and enhanced security. This mechanism also supports high transaction speeds, with the network capable of processing 2000 transactions per second.
Interoperability and EVM Compatibility: The XDC Network supports interoperable smart contracts and Ethereum Virtual Machine (EVM) compatibility, making it easier for projects to scale and integrate with other blockchain ecosystems.
Developer Activity and Community: WXDC has a strong developer community, with 206 developers contributing to the project over the past year. The project also has a significant following on social media platforms like Reddit, Twitter, and Telegram.
Trading and Liquidity: WXDC is traded on several decentralized exchanges, including XSwap, Globiance, and Fathom DEX, providing liquidity and trading opportunities for investors.
These strengths position WXDC as a promising token in the cryptocurrency market, offering a unique blend of security, speed, and interoperability.
Wrapped XDC (WXDC) carries several financial risks. These include:
Counterparty Risk: The entities involved in the transaction, such as the issuer, custodian, or reserve manager, may fail to fulfill their obligations, which can lead to losses.
Centralization Risk: Wrapped tokens may be issued by a single central authority, which can make them less decentralized and more vulnerable to failures or manipulation.
Regulatory Risks: New laws or regulations may be implemented that restrict or prohibit wrapped tokens, their issuance, trading, or redemption, affecting their value and usability.
Technical Risks: Smart contract bugs, hacking attempts, network congestion, or other technical issues can impact the wrapped tokens or the blockchains they trade on, leading to potential losses.
Market Volatility: The value of WXDC can drop quickly due to market fluctuations, making it a high-risk investment.
Liquidity Risks: There is no guarantee that investments in WXDC can be easily sold at any given time, as the ability to sell depends on market supply and demand.
Operational Risks: Failures such as technology outages, cyber-attacks, and commingling of funds can cause delays and make it difficult to sell WXDC.
Complexity Risks: Wrapped tokens can be complex, making it difficult for investors to fully understand the associated risks.
These risks highlight the importance of thorough research and caution when investing in Wrapped XDC (WXDC).
- Atul Khekade: Founder of the XDC Network, which includes the Wrapped XDC (WXDC) token.
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