x (XRC-20)Price

(X)

The token referred to as x is a digital asset built using the XRC-20 standard on the XDC Network, formerly known as the XinFin Network. This specific token gained recognition as the first community deployed inscription within the XDC ecosystem. Inscriptions represent a relatively new method of creating assets on a blockchain by embedding data into transactions, a trend that originally started on the Bitcoin network and has since expanded to other platforms like XDC. The XRC-20 standard itself is a technical rule set for fungible tokens on the XDC Network. It is designed to be compatible with the Ethereum Virtual Machine, meaning it functions similarly to the well known ERC-20 standard but benefits from the specific features of the XDC blockchain. These features include high transaction speeds, low fees, and a focus on enterprise grade applications such as trade finance and tokenization of real world assets. The x project is often associated with Twitscription, a platform that facilitates the creation and trading of these types of inscriptions. As a community led initiative, the project emphasizes decentralized participation. Unlike traditional tokens that might have a centralized team or a specific corporate roadmap, x is positioned as a fair launch asset where the community played the primary role in its distribution and deployment. Within the broader Web3 landscape, the x token serves as an example of how the inscription model can be applied to different blockchain architectures. Its primary utility currently revolves around its role as a pioneer asset within the XRC-20 inscription marketplace. It allows users to interact with the XDC Network's capabilities while participating in the emerging culture of on chain inscriptions. The underlying XDC Network provides the infrastructure for this project, utilizing a delegated proof of stake consensus mechanism. This ensures that the x token can be transferred and managed with minimal environmental impact and high efficiency compared to legacy blockchain systems. By being part of the XRC-20 ecosystem, the token is technically capable of interacting with various decentralized applications, wallets, and smart contracts that support the XDC standard. In summary, x is a community driven inscription project that leverages the efficiency of the XDC Network to provide a standardized, fungible asset. It represents the intersection of the inscription trend with enterprise grade blockchain technology. Learn more

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