In line with the aims and visions of the DigitalBits Platform which includes mass acceptance and integration of Blockchain technology, it introduced a solution which is sure to guarantee and deliver the said aims and visions. This resulted in the creation of the DigitalBits native token(XDB Token) which would be used according to DigitalBits for three(3) major purposes. These purposes are;
Security
On the DigitalBits Blockchain, there have been provisions put in place to fight against any sort of malicious intentions or actions from users of the Platform that may lead to distortion in the normal operation of the network. One of these provisions includes a mandatory minimum amount of native XDB Tokens which must be staked by a user to provide validation of that account. Not just that, without this said minimum token which is 10 XDB, the user would not be able to create a send transaction as the send function would be inactive. But after the 10 XBD has been staked, the send function would then become active thereby enabling the user to make send transactions on the account. As per the second provisions put in place for the security of the network, every transaction that takes place would carry a transaction fee of 0.00001 XDB. Security of anything Platform or network is key and is what people hoping to partake or utilize such networks looks for almost immediately. That said, it’s commendable the efforts DigitalBits has put into delivering an airtight secured Platform.
Transaction among non-native tokens
As part of the functions of DigitalBits, it allows for the creation of Brand tokens for the Brands’ LRPs. These brand tokens when created would be sent to the customers DigitalBits wallet when the said customer is being rewarded as part of the program. The customer is then able to see the number of brand tokens he/she has and can then trade the brand token. This ability to trade the token amongst all other non-native tokens is been provided by the XBD tokens. They enable those transactions and also serve as a link which makes it possible for trades between pairs of other digital assets, which may not have a large direct market.
Efficient and Low-cost Payments
DigitalBits craves for the mass adoption and integration of Blockchain technology, what better way can this be done than adding a payment system that is not only highly effective but fast, in addition to the other significant abilities of the DigitalBits Platform. Most Blockchains today lack the ability to make such transactions successful, but on the DigitalBits Blockchain, the XDB tokens can be used for effective, fast and low-cost micro-payments and remittances.
This has been a brief review on the value proposition of the DigitalBits native tokens(XDB). For more information about the DigitalBits Platform, please visit any of the following links below;
Website: https://www.digitalbits.io/
Whitepaper: https://storage.googleapis.com/westart-files/digitalbits-pre-sale/DigitalBits_Whitepaper_2_2.pdf
Westart: https://www.westart.co/project/digitalbits-presale
Twitter: https://twitter.com/DigitalBitsOrg?lang=en
Telegram: http://t.me/digitalbits
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=5026550.0
Authors Details
BTT Username: Dogecoin92
BTT profile link: https://bitcointalk.org/index.php?action=profile;u=1275172;sa=showPosts