DigitalBits is an open-source, public blockchain that can be used to tokenize real-world assets and convert them into digital assets. The blockchain for brands can be used to issue branded currencies, non-fungible tokens (NFTs), stablecoins, and more to power the points economy using distributed ledger technology.
With numerous protocol-level features and functionality, the third-generation protocol DigitalBits aims to power projects in the NFT and metaverse sectors of the crypto industry. In addition to enabling convenient tokenization and transfer of digital assets, the DigitalBits ecosystem also supports seamless transfer and trade of these assets on-chain, bringing crypto adoption into the mainstream.
The blockchain utilizes an automated market maker (AMM) model to tackle the lack of market liquidity for non-tokenized assets. DigitalBits also supports the seamless trade of assets even if they do not have a direct market for the two traded assets. The blockchain features a built-in decentralized exchange, the DigitalBits DEX.
XDB is the native token of the DigitalBits blockchain. Its initial white paper release fixed its total supply at 100 billion. However, by the time the blockchain launched in early 2021, the developers decided to reduce the XDB total supply by 80% to 20 billion tokens.
The DigitalBits blockchain utilizes a Federated Byzantine Agreement (FBA) consensus mechanism to make it more eco-friendly and faster than leading blockchain networks in the market. FBA employs trust within the network to increase the efficiency of the overall consensus mechanism.
In the DigitalBits network, each node can maintain a list of nodes it trusts. This trust can build up over time. Nodes are chosen at random to agree and confirm the validity of transactions. This process turns more efficient when each node becomes more trustworthy and reliable.
Ecosystem partners of the DigitalBits blockchain are responsible for running nodes within the network and contributing to verifying transactions. However, the blockchain does not reward these nodes for their efforts, unlike the models employed by Proof of Work (PoW) and Proof of Stake (PoS) algorithms.
Instead, their contributions help make the nodes more trustworthy. These ecosystem partners also operate as application providers on the blockchain, and keeping the network secure serves their best interests, ensuring higher integrity within the decentralized network.
DigitalBits was founded in 2017 by Al Burgio, an established entrepreneur, to drive higher adoption of digital assets by brands and their consumers. Al Burgio envisioned DigitalBits as a project that could support real-world use cases for blockchain technology. The blockchain originated after being forked from the Stellar protocol in 2017.
The DigitalBits testnet launch took place in November 2017, followed by its mainnet launch in February 2018. A month later, its blockchain explorer, the XDB Explorer, was launched.
DigitalBits announced the launch of its Partner Ecosystem Program in May 2018 to drive blockchain adoption. This program encouraged developers, service providers, and businesses to experience its ecosystem, accelerating the building and deploying of their services and assets on the platform.
The blockchain network is governed by the DigitalBits Foundation - formerly known as XDB Foundation, in a neutral and agnostic manner. The foundation is also responsible for driving the DigitalBits ecosystem development and adoption.
XDB Chain (XDB) offers several potential advantages for investors, particularly as a result of its unique features and offerings:
XDB Chain's introduction of Branded Coins Offering (BCO) allows businesses and entities to create branded cryptocurrencies on the XDB Chain. This innovative approach fosters real-world utility and the supply-demand value proposition of the XDB coin. Furthermore, a portion of each new Branded Cryptocurrency supply is allocated for regular buyback and burning of XDB coins, enhancing scarcity and potential value.
The buyback and burn mechanism associated with BCO aims to improve the scarcity and value proposition of the XDB coin. By regularly buying back and burning XDB coins (up to 2.5% of the entire BCO supply), this mechanism helps manage the token supply and potentially increase its value over time.
XDB Chain's powerful blockchain platform supports the creation and management of branded cryptocurrencies, NFTs, and stablecoins. This utility can attract a diverse range of use cases and participants to the ecosystem, potentially driving demand and growth for the $XDB token.
As with many blockchain-based ecosystems, XDB Chain may grant governance rights to XDB token holders, enabling them to participate in decision-making processes related to the network's operation, upgrades, and other significant proposals.
XDB Chain's focus on technological innovation, scalability, and efficient payment solutions can position it as an attractive investment opportunity within the broader blockchain and cryptocurrency landscape.
While we cannot provide a reliable XDB crypto price prediction over any timeframe owing to the volatility in the crypto market, the following factors could help you understand the price trends in XDB Chain cryptocurrency:
The adoption of the DigitalBits blockchain technology by brands, businesses, and individuals can influence the demand for XDB tokens. Increased platform utilization for creating branded cryptocurrencies, NFTs, and stablecoins may positively impact the XDB Chain price.
Technological advancements, upgrades to the DigitalBits blockchain, and the introduction of new features or improvements can affect the price of XDB tokens. Increased efficiency, scalability, and security may bolster confidence in the platform, potentially impacting the XDB to USD price.
Market sentiment plays a significant role in determining the price of XDB Chain token. Positive news, developments, or public perception about the DigitalBits platform and its ecosystem may drive demand for XDB tokens, potentially increasing the $XDB price.
To stake XDB on the XDB Chain, you can follow these steps:
1. Use AstraX Mobile Wallet: You simply need to hold the XDB tokens on the AstraX mobile wallet to start staking and earn rewards.
2. Other Staking Platforms: Explore staking platforms supporting XDB Chain (XDB). You can earn rewards by staking your XDB tokens on these platforms. Look for the platforms offering the highest yields and rewards for XDB staking.