Blockdaemon Blog

Blockdaemon Announces Support for XDC Masternode Staking

Daemon News
Jan 10, 2024
By:
Conor
Keville
&
Blockdaemon now offers masternode staking support for XDC holders

Introduction

Blockdaemon, a global leader in blockchain infrastructure, now offers Msternode staking support for XDC holders. Stakers with 10,000,000 XDC can host their own Masternode through Blockdaemon. 

This announcement is important for institutional XDC holders. It offers them a new avenue for participating in network security and consensus. This enhances the accessibility of staking on the XDC Network amongst sophisticated investors. 

An Overview of XDC Network

The XDC Network is an EVM-compatible Layer 1 network. It offers a robust foundation for developing decentralized applications. This compatibility ensures seamless integration with Ethereum-based tools and services. It provides a familiar environment for developers - significantly enhancing the network's appeal and accessibility.

At the heart of the XDC Network is its delegated proof-of-stake (XDPoS) mechanism. This consensus model offers several advantages. It enables quick transactions, and ensures low gas fees. Additionally, it supports a high transaction throughput - vital for scalability. It caters to the growing demands of modern blockchain applications.

The XDC Network's enterprise-grade features set it apart for business-ready use cases. For example, it is well-suited for real-world asset tokenization. This process involves converting physical assets into digital tokens on the blockchain. The network's high performance and low costs make it ideal for this purpose. These features enable businesses to tokenize a wide range of assets.

The XDC Network combines compatibility with Ethereum, an efficient consensus mechanism, and enterprise-grade capabilities. This unique combination positions the XDC Network as a leading choice for developers and enterprises. 

Masternodes in the XDC Network 

Masternodes play a pivotal role in the XDC Network. They are responsible for proposing and voting on blocks. To become a Masternode, a significant commitment is required. Operators must lock 10,000,000 XDC tokens. This requirement serves multiple purposes. It ensures that Masternode operators have a vested interest in the network's integrity. It also discourages malicious activities by raising the stakes for the operators.

Security in the XDC Network is paramount, especially against malicious behaviors. The network employs advanced forensics detection and monitoring systems. These tools identify and mitigate potential security threats. In cases of detected malicious behavior, the network enforces strict penalties. This includes slashing the locked tokens of the offending Masternode. This measure acts as a strong deterrent. It upholds the network's security and trustworthiness.

Blockdaemon's Role in XDC Masternode Support

Blockdaemon's extensive experience in node management allows companies and individuals with 10,000,000 XDC to participate in the XDC Network consensus, and be rewarded for doing so. 

Blockdaemon’s Services for XDC Masternode Staking

Blockdaemon simplifies the process of running a Masternode for clients on the XDC Network. This service includes comprehensive node management, ensuring uptime and optimal performance on behalf of customers. Blockdaemon's platform provides health checks and updates, essential for maintaining node security and efficiency. This support is vital for institutional adoption, as it reduces the technical barriers to entry and allows stakers to focus on strategic participation in the network.

Benefits for Institutional Participants

The collaboration between Blockdaemon and the XDC Network offers significant benefits for institutional participants in the crypto industry:

- Reliability and Efficiency: Blockdaemon's expertise in node infrastructure ensures high reliability and efficiency for XDC Masternodes. This is crucial for institutions that require a consistent and dependable blockchain service.

- Enhanced Security: With Blockdaemon's infrastructure, clients can be assured of enhanced security. This is vital for maintaining trust and integrity within the network, and avoiding slashing. Blockdaemon is ISO9001 certified. 

- Ease of Use: The partnership simplifies the process of participating in the XDC Network. Institutions can leverage Blockdaemon's services to easily engage with the network without needing extensive in-house blockchain expertise.

- Scalability: Blockdaemon's scalable infrastructure supports the growth of the XDC Network. This allows for more significant institutional participation and expansion of the network's capabilities.

Conclusion

Blockdaemon's support for XDC Masternode staking provides the necessary infrastructure ‘rails’ for institutional players in the crypto industry. This support brings together the technical expertise of Blockdaemon with the innovative XDC Network. This offering underscores the growing importance of institutional-grade staking solutions. 

If you are interested and would like to get started staking, contact Blockdaemon today. 

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