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Features

XCF Features

XCF Payment platform refers to a dedicated energy payment and settlement system that utilizes XCF tokens in transactions. The XCF project team and Cenfura have developed this platform. The initial version 1.0 of the payment platform pilot started in August 2020. Version 1.0 was implemented with a ‘minimum viable product’ level of functionalities. The full-featured  version 2.0 is set to be launched in April 2022.

 

The payment platform has the following key features:

  • Open ledger for all energy and payment transactions. All energy production, consumption, and end-user payments are stored in blockchain within the platform.
  • Secure and trusted transactions. Once in blockchain, no transactions can be changed, making all transactions trusted and tamper-free
  • Fast and predictable transaction times.
  • End-user payment applications.
  • Asset analysis and optimization applications.
  • Asset and payment tokenization.
  • Community-driven apps for a new way to utilize XCF, a basis for extended innovation.
  • Needed transparency for various stakeholders through dedicated applications or APIs.
  • Basis (secure data) for various customized applications, such as DeFi (distributed finance), DApps (Distributed apps), mobile apps, web apps, and 3rd party system integration
  • Flexible interface different assets to interact with, for seamless tokenization.
  • Integration to 3rd party crypto exchanges to buy and sell XCF tokens outside the ecosystem.

Features

XCF Features at a glance

Features

Asset and Payment Tokenization

The essential part of the solution is the concept of tokenization. When Cenfura’s assets buy and sell products and services, smart contracts are automatically created. These smart contracts work in the following way: When an asset produces energy, a smart contract kicks in and calculates the selling price of the energy in local fiat currency, and this price is then

converted into XCF tokens at the current market exchange value. The buyer then purchases the energy using XCF tokens, and the asset has its share of tokens deposited into its account. These tokens can then be sold back into the market for local currency, leaving the ecosystem, or the tokens can be

held in reserve. Again, all assets in the Cenfura ecosystem will use XCF tokens.

Features

Interfacing to External Exchanges

The tokenization process is the core platform function, which will transact with the platform exchange to acquire needed XCF tokens for tokenization events. 

 

Furthermore, to satisfy the availability requirement of XCF tokens for tokenization, the platform exchange interacts with external 3rd party exchange to acquire the XCF tokens from open markets.

WHY?

Key Components of the XCF Payment Platform

  • Validator Node - Validates new blocks to be added to platform blockchain, using Proof of Authority (PoA) as a consensus algorithm. The Validator Node also keeps the blockchain transaction ledger
  • Blockchain Gateway - Provides seamless movement of tokens between the public blockchain and the platform, publicly notarizing the state of the platform blockchain to outside and exposing needed parts of the platform blockchain securely.
  • Asset Node - Each asset will have a dedicated, standardized node server. The asset node acts as a blockchain light node. Light nodes keep only part of the ledger and cannot add new blocks to the blockchain. Additional functionality includes asset data/control data communication and buffering in data communication failures.
  • Application Gateway - Serves as the interface for various applications, providing a view of the data in a secure manner.
  • Platform Exchange - Serves as an internal exchange to the XCF ecosystem. The platform exchange is dedicated to tokenization and internal XCF transactions.
  • Tokenization - smart contract(s) provide core asset and payment tokenization functionality.
  • Asset Contract - Each (energy) asset’s financial behavior is modeled as a smart contract for tokenization.

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