Devault is a virtual currency backed by a 100% community governance system that enables fast and secure transactions globally. Devault comes with the major cutting edge cryptocurrency functionality we have come to know and love like speed, security, portability and fungibility with special emphasis on a community-based consensus system.
What are the top 5 features of this new platform?
1. COMMUNITY GOVERNANCE
The community has the final voice in DeVault, thus controlling the fate of the project. Utilizing a 1 coin = 1 vote system, allowing everyone to participate. In an effort to create a self sustaining 'blockchain organism' DeVault realized the only proper way to keep the project alive is to not have any single points of failure or authority, thus, complete community governance was placed as the main focus.
2. SELF FUNDED
All DeVault's funding comes from within the blockchain, and is 100% auditable and transparent. The funding system is ever adjusting to the current ecosystem. Every block reward is split between miners, the community treasury and the community DAOs. These DAOs are various teams that contribute to the development of the project and are directly paid from the network. The current block split stands at:
Current Block Split*
- Miners 55%
- Community Budget: 15%
- Core Dev DAO: 10%
- Web Dev DAO: 5%
- Biz Dev DAO: 5%
- Community DAO: 5%
- Marketing DAO: 5%
3. FAST PAYMENTS
DeVault is built upon a Bitcoin-like blockchain network that enables fast worldwide payments. Most payments arrive in under 60 seconds! This faster than Bitcoin, Litecoin, Dash and PIVX.
4. PROOF OF WORK SECURE
The DeVault blockchain is secured by a worldwide network of computers mining the SHA256d hashing algorithm, the very same as Bitcoin with reorg protection. Meaning to mine Devault, one will have to pick up an ASIC or rent hash power online.There are a couple of Devault mining pools already for those who are interested in collective mining like MineDVT, BSOD.PW, LuckyAltcoin, Zpool.ca, ZergPool.com.For renting hash power and mining DVT with it, one can purchase hash from MiningRigRentals. Devault community member, Lex wrote a neat how-to on renting hash from miningrigrentals.com on the Devault Forums
5. ACTIVE EARNINGS
A community is built from within, not hired from outside, and we take that seriously in the DeVault community by giving opportunity to those within the community. Everyone has access to Cold rewards within the DeVault community, simply make sure your address follows the rules in the DeVault FAQ.
Currently, Devault is listed on three exchanges including Escodex, SwiftEX, and SouthXChange trading at about $0.008 per coin. The Devault community is looking for active contributors who are ready to help promote the visions and goal of the project. You can join the most community-based cryptocurrency project today, check out how you can help.
This article was a submission for the DeVault Economy Article Bounty, visit www.DeVault.cc to learn more about the community governed digital economy.