What is DigitalBits?
DigitalBits is a protocol layer blockchain designed to help facilitate liquidity of various digital assets and integrate with existing consumer application to drive mass-market adoption. The built-in decentralized exchanged equipped with multi-hop technology creates a flexible marketplace for digital assets and the network reaches consensus through a construct of Federated Byzantine Agreement. DigitalBits, a fork of stellar, shares many of the benefits of Stellar but differs in key aspects such as not subjecting its native tokens to inflation, developing a token name certification services and an automatic algorithmic token distribution. DigiitalBits looks to introduce transferability and portability to new and existing digital assets, facilitating a seamless and near instant transfer of value.
Mission
DigitalBits is a protocol layer Blockchain designed to help facilitate liquidity of various digital assets and integrate with existing apps to drive mass-market adoption.
DigitalBits supports an enterprise go-to-market approach. Through the tokenization of an enterprise program's existing digital assets, the active wallets within the ecosystem are instantly transferred into the DigitalBits blockchain. Millions of consumer will be able to utilize and benefit from blockchain technology without even knowing it. DigitalBits creates an ecosystem in which enterprise and consumer can leverage blockchain technology without having to later learned behavior. This effectively brings blockchain to society as opposed to forcing consumers to understand blockchain terminology and enables a path to drive the mass adoption of cryptocurrencies.
Vision
DigitalsBits vision is a global token economy, in which all entities are able to leverage the benefits of blockchain technology in a decentralized manner, where values move without border or friction.
Wallets & Apps
Businesses and third-party developers can easily custom Apps by leveraging the Frontier API and DigitalBits SDK. DigitalBits also providers wallet source code that can be directly used or easily adapted to create a brand-specific wallet. The bridge server facilitates easy for the endpoints to the federation and compliance server.
XDB Token & Distribution
XDB serves three main objectives:
- Protective security feature - each account on the DigitalBits blockchain is required to stake a minimum of 10 XDB to ensure authenticity and to enable the send-function on the network. in addition, each transaction is subject to a minor transaction fee of 100 nibbs or 0.00001 XDB. These features work to prevent users with malicious intentions from flooding the network.
- Enables transaction among non-native tokens - XDB can act as a bridge to facilitate trades between pairs of digital assets that may not have a large direct market.
- Leverages for fast and low-cost payments and remittances.
The following outlines the proposed token distribution.
Conclusion
DigitalBits support the vision of a true decentralized token economy. However, the current state of the market sees a lack of usage and general apprehension towards blockchain and cryptocurrency adoption. In understanding this. DigitalBits approach is to integrate with existing consumer applications, thus porting millions of existing users into the DigitalBits blockchain. Both consumer and enterprise adopters will experience the vast benefits of blockchain technology, with no required change in behavior. Through this approach, DigitalBits will contribute to bringing blockchain and cryptocurrencies to the masses.
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Created by: 15persenlucky
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