No, XDC is not hosted on the Ethereum blockchain. There was previously an ERC-20 token pegged 1:1 to XDC but the team behind the XDC network phased it out in 2021.
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What is the XDC Network?
XDC is a hybrid blockchain network that supports smart contracts using a delegated proof-of-stake (XDPoS) consensus mechanism. This network has a native token called XDC. You can use the XDC token to transact with numerous decentralized apps built on the XDC hybrid blockchain.
There are currently over 12 billion XDC tokens in circulation, and the token has a total market capitalization of about $300 million, according to CoinMarketCap.
What is XDC Used For?
You can use XDC to transact with apps built on the XDC blockchain. Examples of such apps include Turant Pay, a remittance app, and TradeFinex, a decentralized B2B financing platform.
You can also stake XDC tokens that you already own to earn more tokens as a reward for verifying transactions on the blockchain.