XDC Gasless Subnet: Gasless Subnet Staking dApp for XDC Network

TL;DR

This paper introduces a gasless subnet staking dApp for the XDC Network that enables cost-effective, scalable, and efficient staking by eliminating gas fees, thus improving usability for high-frequency applications.

Contribution

It presents a novel dApp that creates a gasless subnet on the XDC Network, enhancing scalability and reducing costs for staking operations.

Findings

Promising throughput and latency performance

Enhanced scalability and security

Significant cost efficiency in staking

Abstract

With a delegated proof-of-stake (XDPoS) consensus mechanism, the XDC Network is an enterprise-focused blockchain platform that combines the strength of public and private blockchains to provide quick transaction times, low energy consumption, and economical gas fees. XDC is designed for interoperability and supports decentralized apps (dApps) and integrates smoothly with financial systems. It is perfect for trade financing and tokenisation of physical assets because of its emphasis on security and scalability. However, there are a few critical issues that hamper wider acceptance and usability for certain high-frequency applications. This whitepaper introduces a novel and enthralling dApp for establishing a gasless subnet in which mainnet XDC can be staked to spin off a subnet that functions similarly to a non-crypto network, accepting currency fees on the XDC network. This would allow users to stake their tokens without incurring gas fees making the staking process more efficient, cost-effective, and simultaneously enhancing scalability. Performance evaluation of the dApp shows promising results in terms of throughput, latency, scalability, security, and cost efficiency. The use cases and applications of this approach along with challenges and ensuing solutions are included.