DigiDex the new payment solution.
Hi dears, another interesting project is being started. First of all, for who missed previous entry, what's a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.
All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
For this reason, the project I am going to present you is DigiDex, the DigiDex token is a blockchain-based platform that take part of a global solution to facilitate borderless transactions. DigiDex Global Payments (DGX) (https://digidextoken.io/) is a platform based on a chain of blocks that consist of an alternative to traditional banking with a better way to spend, save and share money, free of charge and directly from a mobile. Making a real-time exchange of cryptocurrency in fiat, somebody can make instant payments at the point of sale of a block chain wallet requires, which allows real-time POS (point-of-sale) transactions directly from the cryptocurrency private wallets of the users.
The main objective of DigiDex is to create a globally accessible alternative to traditional banking in the form of a digital wallet, which is able to allow users to store money securely, access it instantly and make transactions with it anywhere, in any currency through the DGX token, directly from a smartphone, using only the DigiDex application.
Basically, the platform works through State Channels, a technique to perform transactions outside the chain with the same security guarantees as a chain operation, in which participants can exchange a large number of transactions with each other instantly. DigiDex Network uses State Channels because it is a form that provides the speed required for the purchase mechanism at the DGX point of sale and is a cost-effective approach to allow transactions.
So, in more detail, the first step is to create the State Channel by making transactions and status changes. At this point, the user authorizes a transaction to send the equivalent in cryptocurrency to the DGX platform and also authorizes his account in local currency to pay for the requested purchase.
through its global network of payment methods on behalf of the user.
Once the user keeps the funds ready, he signs and publishes a withdrawal request, which requires an operation in the chain. To close a State Channel, one of the parties signs and publishes a closing request for the State Channel.
The platform gives a huge range of advantages to users and industry. These are described in the following list:
- Avoid the lack of acceptance of cryptocurrency by merchants.
- Instead of writing each payment transaction in the blocking chain, DGX will create State Channels between the client and DGX, which provide real-time transaction guarantees in the blocking chain.
- a free alternative to traditional banking with a globally accessible platform to spend, save and share your money.
- A fiat digital account provides a gateway to the widespread adoption of criptocurrency by pairing it with access to leading financial services and new smart features in a simple and easy-to-use platform.
- DGX creates a positive and sustainable relationship between users and their money, without the stress associated with most products or financial transactions.
- DGX offers its members free digital money services, including: Real-time conversion, Tap-to-pay functionality, multi-currency wallet, social sharing to celebrate important moments in the DGX World Stream, possibility of withdrawing money from any ATM, etc. .
- Users and companies can exchange their blocking assets seamlessly from one user to another, with transparency that currently does not exist in a centralized solution.
- The data will be used to provide personalized recommendations, simple ways to save, offers and relevant rewards.
- DGX uses industry-leading safeguards to protect your money, data and privacy, so accounts are secure and protected.
The project gives the opportunity to earn Digidex (DGX) tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bitcointalk webpage. Here (https://bitcointalk.org/index.php?topic=3161533.0) you can access to the link in order to see what are the conditions to become an early DGX contributor and start acquiring tokens.
Doesn't that sound interesting? If you are interested in this airdrop or basically in the ICO, you can read their Whitepaper here (http://docdro.id/juAYq03https://t.me/joinchat/FW1Z0E-_olg1ocltBgLpiQ). I hope you liked the post and soon I'll send you new ones.
Email: [email protected]
Telegram username: @clauming
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index....
Ethereum address: 0xC6AB45541006D53D31E25b41c7d245c5Ad99BF71