What is XDC Network, D.C. United’s new jersey sponsor?

D.C. United has announced their new front-of-the-jersey sponsor nowadays, going with XDC Network, a crypto asset network created by Xinfin. Pablo Maurer reports that the deal is for $ 6M per year over three years, which is up from the $ 4M that Leidos was paying United .

# DCU make this official nowadays, partnering with XDC network, a blockchain technical school caller. 3-year deal worth around $ 6mil per year, sources say — their manage with Leidos, their former partner, was around $ 4mil/yr. More to come belated on @ TheAthleticSCCR. hypertext transfer protocol : //t.co/sVARNjtojq— Pablo Iglesias Maurer (@MLSist) February 22, 2022

But what is XDC ? Who are Xinfin ? What is a crypto asset network ? Let ’ s leap out in and find out .
Xinfin is the organization behind the XDC cryptocurrency and the XDC Network. here is how Xinfin defines itself :

XinFin Foundation is a non-profit organization which liaises with different international governments in orderliness to reduce the existing gap in ball-shaped infrastructure. According to XinFin, the miss of government sponsored financing hinders the hypothesis of many infrastructure projects around the ball .

To me, this looks like they want to be the politics contractile organ for the blockchain, and so in that manner it makes a lot of feel that they would want to sponsor D.C. United. We all know that ad and sponorship in the District is different than about anywhere else. You only have to look at what signs you see on the Metro to know that, a lot of times, these are being narrowcast to politicians and members of the civil servicing, and not at all to regular people.

At the top degree, this is what I think Xinfin wants to become. On their about foliate, these are the things that they highlight ; they use the exercise of connecting investors and developers to fund an infrastructure project in another nation as a primary coil use of their platform. But the XDC Network has a bunch together of other uses, and those uses are what are highlighted in D.C. United ’ s announcement .
Folks may have hear of Ethereum, which is the second most popular cryptocurrency out there, after Bitcoin itself. And while Bitcoin is primarily only used as an investment or monetary equivalent, people use the Ethereum network for a crowd of other purposes. You may have heard about how a bunch of crypto enthusiasts tried to buy a copy of the Constitution. They created their integral organizational government model on the Ethereum Network, using things like smart contracts and decentralized organizations. And while they besides needed to raise money as a depart of it, the way that people had the ability to vote on the future of the Constitution, had they won, was by having a specific fit of tokens on the Ethereum Network.

NFTs are another crypto asset that isn ’ t a monetary equivalent ; it its very name is “ non-fungible ”, meaning it can ’ triiodothyronine be directly exchanged for another currentness. Almost all NFTs at the current here and now are minted on the Ethereum Network, and thus your proof of ownership of that NFT is on Ethereum as well .
Xinfin wants the XDC Network to be a big player in both of these places a well, and credibly wants to pass the Ethereum network and be the primary actor in these spaces. They highlight how they are faster, cheaper, and use less energy than the Bitcoin or Ethereum networks on the movement of their page. They specifically feature tokenization and smart contracts on their web site. They besides talk about sports fan tokens and NFTs as something that they are going to bring to D.C. United, something that is much more public lining than the government fund of infrastructure potential that feature on their web site. The initial looseness might be for the government contractor space, which is fully of piles of money, but I think every crypto asset out there would besides love to be a big player in the general crypto market .
In our future article on XDC, we ’ ll look at the coin itself, the team behind it, its popularity, and early potential issues behind it .

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Category : Coin