The onset of COVID-19 brought our lives to a sudden halt. We were forced to turn our lives completely around and adapt to new normals. One day, we were free to do as it pleased us, and the next day, we got confined to our homes. It is needless to say that everybody had to cancel all our travel plans and consider that self-quarantining became the only way to survive those perilous pandemic times.
However, as time passed, everybody started adjusting to a new way of living. Taking proper precautions, people have finally started stepping out. Even the governments have lifted the restrictions for the major part. Also, vaccines have been developed, and vaccination drives are underway. While a WHO report stated that like HIV, we would have to learn to live with COVID-19 as the chances of it completely getting eradicated are extremely low.
During these times, when we were still trying to understand our new lifestyle and options, cryptocurrency has made its way to getting accepted by the public for their day-to-day transactions as well, and not just for investment purposes. From paying for gas and groceries to making travel arrangements, everything is getting done with cryptocurrency as the mode of transaction.
Talking about the usage of cryptocurrency for travel arrangements, it is worth noting that XcelTrip, a leading travel booking platform, has integrated with XinFin Network (XDC) on its platform. This will allow users to book flights and hotels directly with XDC tokens. XDC is the latest addition to the list of top cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, etc. already integrated with the platform. Users can book from a range of over 1.5 million hotels and 400 airline companies available on the XcelTrip platform.
XinFin Network (XDC) is a hybrid blockchain platform with 2 seconds transaction finality and a TPS speed of over 2000. The XinFin Digital Contract or XDC is capable of completing the transaction almost instantly.
One of the primary reasons why there is an apprehension amongst the public regarding everyday usage of cryptocurrency has been the involved transaction cost. However, a minimal GAS fee of $0.0001 makes it extremely cost-efficient and affordable. XDC eliminates the most common problems of long traction time and high fees prevalent on the existing top blockchains.
XcelTrip has also gone a step further and decided to integrate XDC as the currency of its official wallet. This will empower users to not just use XDC for flight and hotel booking, but for everyday transactions at gas stations, convenience stores, bars, spas, hotels, and at many more places. XinFin (XDC) is making it possible for users to use blockchain in everyday transactions without huge wait time and high fees.
XinFin Network has been around for a few years and its mainnet went live in 2019. Since then, it has been adopted by several companies such as Globiance who have deployed stable coins on XinFin Network, MyContract that enables digital asset creation, and Tradefinex which targets global trade finance. The project still seems under the radar and only recently been noticed by the blockchain community. The massive growth in the Twitter community since the mainnet launch shows the positive trends amongst the users.
Comparison with Bitcoin, Ethereum and XDC Network (Source: XinFin.org )
Since the arrival of Bitcoin and other cryptocurrencies, real-world usage has been the talk of the town. While a few new protocols are increasingly being able to deliver real-world usability, not many have been able to provide it at a larger scale. Mass adoption or usage by institutions will require regulatory approvals and ability of the blockchain to be both public and private. Businesses do not and cannot put all their transactions in the public domain.
A middle ground has always been sought to make blockchain usable in real-world. XinFin Network with all its regulatory approvals and capabilities seems to be taking the real-world application of blockchain a step closer to reality. You can check more about them on their website and join their community for regular updates.