DigitalNote (XDN) –In our digital world as we know it, making reasonable investment decisions is usually a bit difficult.
The rate of difficulty increases however, when it comes to the world of Cryptocurrencies, and the different probable choices that could be made. This difficulty as regards what type of Crypto to invest in, is largely due to the prevalence of many Cryptocurrency company that rear their heads (ugly or beautiful), in the crypto market.
One of such cryptocurrencies, with amazing features is DigitalNote. What is DigitalNote (XDN)? And what are the things you need to know about them? These are some of the things that will be discussed in this article.
DigitalNote (XDN): Introduction and Brief History
In May 2014, DigitalNote was launched. Then, it was called or known as Ducknote. It was then renamed to Darknote, and finally, in June, 2015, it was finally named as what we know it to be today; DigitalNote.
DigitalNote (XDN) aims at being an open currency that everyone can benefit from, this aim seems to be feasible, considering their strong focus on encryption, interest bearing blockchain deposits, and the issue of privacy.
Also known as XDN, DigitalNote was developed with a primary objective of improving upon the various protocols that are already established in Blockchain technology. Some of these improvements include the promotion of fairness within the network, supplying true anonymity, and the provision of more security.
There was no premine of blocks of ICO for DigitalNote, during its launch. That means that it had a fair launch. Having a fair launch implies that the coin is not in danger of having the developers of other single nodes on the network holding an unreasonably large chunks of coins.
DigitalNote (XDN): Major Features and Unique Aspects
A major feature of XDN is that it is a ASIC resistant Blockchain. The XDN Blockchain is resistant to ACIS, and gives CPU and GPU a fair mining chance. They are able to do this largely because of their improved algorithm which gives ASIC miners, practically no chance of unfairly boosting their mining power.
Also, XDN has enabled the use of a totally secure, decentralized, private and peer-to-peer messaging system where only the sender and the receiver will be able to decode the message.
There would also be no need to exchange keys beforehand as the message will automatically be decoded in accord with the transaction’s content as soon as the receiver comes across the block.
XDN has a minimum cap of 8.59 billion XDN, a 4 minutes’ block time and a 150 XDN block reward. All of these ensures that XDN has a fast, reliable and consistent network. It also boasts of a faster coin distribution schedule. Faster than most other Altcoins.
Employing CryptoNote technology, the XDN Blockchain obfuscates the sending and receiving of addresses involved in any transaction. This means that its value cannot be determined from the public Blockchain. They do this by merging different transactions in a controlled manner, using CryptoNote protocols.
It is also worthy of note to know that XDN adopts the POS approach. This helps in promoting the level of fairness in the network by not allowing miners to control ridiculously large amount of the network. Rather, the level of power and resources consumed by the Blockchain network is reduced.
Lastly, XDN employs the use of encrypted transaction comments. This feature allows the attachment of any message to transaction by the users, this is then broadcasted into the Blockchain in an encrypted and secure manner. This will make it impossible for someone browsing the public Blockchain to identify the sender of the comment. Thus, allowing for the circumnavigation of censorship by the users.
DigitalNote: Where to Spend the Coin
Very few number of merchants, actually accepts DigitalNote as a form of payment. It seems that for now, XDN’s primary purpose is to be traded on exchanges and to appreciate in value. This situation is envisaged to change in the near future. Although, XDN is a part of the CoinPayments platform, it seems few traders have actually enabled this feature.
DigitalNote (XDN): How to Buy and Store
DigitalNote (XDN) can be bought and traded on Bittrex, Upbit and Altrex. It can be mined, using the GPU or CPU miners. Another way by which XDN can be earned is by depositing it in order to earn staking rewards, the level of reward gotten is determined by the staking period
XDN as has shown great prospects and it has a lot of unique features, will this Crypto stand the test of time? Only time will tell.