DigitalBits - a Stellar-based open source cryptocurrency project that developed the DigitalBits blockchain protocol, a secure and low-cost global transaction network and tools. This blockchain protocol and network layer supports a variety of use cases, including consumer digital assets, in particular branded currencies.
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About Digital Bits
As a fork of Stellar, DigitalBits has many of the same features but differs in key aspects that support an enterprise-grade blockchain. It is a protocol-level blockchain, designed to support consumer digital assets, in particular branded currencies. This includes assets such as loyalty points and rewards, gift cards and the growing asset category of branded stablecoins. Clearly, DigitalBits' goal - to go mainstream through existing brands. To that end, Digital Bits is an enterprise-grade platform, specifically built to support brand currencies.
Platform features
The platform is a third generation protocol, based on Stellar. In pursuit of efficiency and effectiveness, the team is aware that the blockchain, despite its revolutionary characteristics, would be useless if there are no users.
The advantages of the platform are as follows:
| Support for innovation and implementation | The Foundation provides the tools and resources, needed to implement innovations and technologies, related to other blockchains. |
| Build commercial standards | The Foundation works together with businesses and international organizations to understand the role that digital assets will play in the global ecosystem. |
| Technical development | The project makes a great contribution to the support and development of the blockchain. |
In this way, DigitalBits complements learned behaviors and patterns while acting as professional users. It represents the middle ground, needed to make changes, allowing it to be integrated into an application while minimizing changes in user habits.
In addition, DigitalBits will serve as the main use case for the Metalyfe marketplace, introducing blockchain browsing and one-click payment, thereby returning control to the end user. In addition, understanding and in sync with the latest trends in the cashless society, DigitalBits is exploring card payment solutions, recognizing the advantages over traditional payment systems and those that end users will benefit from.
Project cryptocurrency
With the ability to tokenize and provide liquidity for digital assets, the project, through its token, will eliminate the friction, faced by both producers and consumers in the loyalty and bonus points industry.
In general, the native official currency of the ERC-20 platform, XDB, performs three main functions:
- It secures the network through staking. Each account holder must stake 10 XDB for authentication purposes and to enable the online send feature.
- Acts as a bridge, allowing cross-chain transactions.
- Used for fast and inexpensive chain transactions. The applicable transaction fee - 100 Nibbs or 0.00001 XDB. Low, the purpose of this - to deter certain elements, interested in spamming the network.
There are 100 billion XDB in total. Of this, 32 percent was reserved for investors, 40 percent - for the algorithm pool, 2.5 percent - for advisors, 12.5 percent - for the team, 3 percent - for rewards and drops, 5 percent - for partner development and 5 percent - for research and grants. The best cryptocurrency exchanges to trade DigitalBits shares are KuCoin, Hotbit, Uniswap (V2) and Bittrex.