What Is Xend Finance (XEND)?

What Is Xend Finance (XEND)? Complete Guide Review About Xend Finance.

What Is Xend Finance (XEND)?

Xend Finance has created a highly flexible and robust infrastructure to become a Layer-2 DeFi protocol. Composed of multiple Layer-1 DeFi protocols across different blockchains to provide better yields, as opposed to using Layer-1 DeFi yield platforms individually, they invite developers to build for free. They come to the second implication of private information for contract and mechanisms design.

Though such private information is effectively reported via messages or indirectly by choice of options, this does not mean that such internal data should be made public on the ledger, even if households were compensated for posting. Often, the opposite is true: messages should be kept private and of course cryptography makes this possible. Ledgers need to be partitioned and permissioned. Further, the platform may deliberately conceal internal information by randomization of observed outcomes.

Xend Finance Storage Key Points

Coin BasicInformation
Coin NameXend Finance
Short NameXEND
Circulating Supply87,160,249.44 XEND
Total Supply200,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Official Project WebsiteClick Here To Visit Project Website

$XEND Token

The Xend Finance token ($XEND) powers a decentralized savings and cross-chain high yield aggregator protocol. The $XEND tokens also generate interest for the users as they hold on to the tokens. A contract specifies states at points in time, such as current ownership for example or other facts. Communication under a contract is node to node, not necessarily broadcast to the entire public, as in Bitcoin, but rather on a need-to-know basis, as pre-specified in the contract. An oracle is used to verify known facts that are states of a contract. Commands initiate transfers and result in output states.

Save in Stable Currencies

Fluctuating and devalued currency is a worry of the past. As noted, there is a notary service on an as-needed basis for validation of communication and proposed transactions. Upon being sent a proposed transaction, the notary will either accept it if the notary has not already signed other conflicting transactions, or otherwise will reject it, as would happen in an attempt to double spend. Every state has an appointed notary, and a notary will only notarize a transaction if it is the appointed notary of all the transaction’s input states.

Xend Finance A notary may be a single network node or a cluster of mutually trusting or mutually distrusting nodes. Notaries can choose a consensus algorithm based on privacy, scalability, legal system compatibility, and algorithmic agility. However, a notary could decide whether to provide validity consensus and if not to run the risk of denial of state attacks.

The Journey So Far And The Road To Come

Xend Finance has crossed many incredible milestones, with many more to come. Below is a detailed road map that lays out the past, the present, and a little sneak-peak into the future. To summarize, smart contracts are a series of instructions based on technology rather than people or paper. A programming language dictates an IF-THIS-THEN-THAT (IFTTT) logic, in which instructions are only executed when meeting certain criteria. Every step acts like a trigger for the next step to execute itself, creating a domino effect until the contract is fulfilled.

The easiest way to envision how smart contracts work is to think of the transaction like a vending machine interaction. Instead of going into a physical store, a person (the requester) works only with the machine (the provider) to acquire an item without a middleman. Likewise exchange platforms with multiple agents interact with each other through code.

Binance-backed Xend Finance launches DeFi platform for credit unions in Africa

Nigerian startup Xend Finance uses decentralized finance (DeFi) to address currency devaluation. DeFi aims to bridge the gap between decentralized blockchains and financial services. When you consider staking cryptocurrency, the Xend Finance token ($XEND) should definitely be one of your first choices. It’s really a no-brainer and you’ll see why below.

Xend Finance The contract is a code which is initially validated and either works or not (one can imagine several independent validators of code, which links back potentially to thwarting collusion). A contract agreement is made via public and private keys. After this validation, it becomes immutable. In this sense, there is no reneging on whether agreements have been entered into, ruling out claims that the agreement was written in a different way. There is no need for trust at this stag.