XDC 2.0 introduces enhanced security through its new consensus mechanism.
EIP-2718 and EIP-2930 proposals enhance transaction efficiency and network security.
As the crypto community braces for a potential âUptoberâ, they are also closely watching the TradFi & RWA-centric L1 chain XDC Networkâs next significant milestone. Within hours, XDC 2.0 is set to roll out its highly anticipated mainnet upgrade at block number 80370000. This release will bring the XDPOS Consensus 2.0, which is based on the Chained HotStuff Byzantine Fault Tolerance (BFT) algorithm, a state-of-the-art advancement designed to improve security, efficiency, and user experience across the network.
A cornerstone of this upgrade is the enhanced consensus mechanism, requiring masternodes to lock a significant amount of XDC tokens to propose and vote on blocks. This change is expected to bolster network security by reducing the possibility of malicious activity, with a slashing mechanism in place to penalize wrongdoers. The networkâs forensics detection system will monitor any suspicious behavior, further ensuring network reliability.
Todayâs the Day! XDC 2.0 Upgrade on Mainnet is Few thousand Blocks away.As the digital ecosystem undergoes constant transformation, our solutions keep pace with this evolution. Say goodbye to the inefficiencies of the past and embrace a future where trust, accountability, and⊠pic.twitter.com/uk0saQPtE2
â XinFin (@XinFin_Official) September 30, 2024
Starting from block 80370000, transaction fees on the XDC Network are said to rise 50-fold. Although this might initially raise concerns, the increased fees translate into higher rewards for masternode operators, incentivizing more participants to contribute to network validation. Meanwhile, In turn, this enhances both decentralization and security.Despite the increase, transaction costs on XDC will remain highly competitive compared to other blockchain platforms.
Improving Security and Transparency
The XDC 2.0 upgrade also incorporates several technical improvements, such as the implementation of Ethereum-based proposals EIP-2718 and EIP-2930. These upgrades are expected to boost transaction efficiency and network security. New features like detailed transaction tracing and proof retrieval methods aim to enhance transparency, providing users with a clearer view of blockchain operations.
For network users and node operators, transitioning to XDC 2.0 is designed to be straightforward. Two upgrade options are available: users can either run a provided upgrade script or manually pull the latest Docker image, ensuring a smooth transition to the new network version.
With these advancements, XDC 2.0 is positioned to significantly strengthen the XDC Networkâs presence in the blockchain ecosystem, offering a more secure, efficient, and transparent environment for its growing user base.