district0x Coin – a decentralized network
The developers of district0x Coin have deliberately created a complete network in which the coin itself plays an integral role. At the beginning of 2017, the release was valued at $0.158390. Its market capitalization is approximately $56 million, while the average daily volume is approximately $1.5 million.
The name district0x hides an allusion to the cryptocurrency Ethereum, since the 0x is the beginning of an address from the network of this coin. The individual building blocks within the network are called districts. These two factors make up the name of this Altcoin.
How does the concept of this digital currency work?
District0x Coin represents a network of decentralized markets. These can be built on together, along with the different processes to be performed. For a better illustration, a colorful infographic for the entire setup is available on the website.
While electricity for factories is generated by wind energy, products are transported to an associated company. It is mostly a self-contained but decentralized social system. Of course, this planning is a vision, but cryptocurrencies are already laying the first building blocks in technological advances.
There is complete independence and they are not subject to central administration. The objective of the district0x network is to transfer such an approach to society.
This is already happening on a small scale in the background of district0x Coin. The network token –district0x Coin or DNT – is used to guide the so-called Aragon Governance through various intermediate steps. This is a platform for the dissemination of virtual organizations and personalities.
At the center of this network is the d0xINFRA framework, which is largely based on front-end libraries, and at the same time, Ethereum-based smart contracts. They are distributed to the IPFS system and represent the basic functionalities of the entire network.
This framework is structured in such a way that an extension can be made at any time. In other words, it’s an open source network.
The Name Bazaar, Ethlance and the Meme Factory are three major projects that have been realized and are already operating globally. The launch took place during 2017. Ethlance is a job portal, Name Bazaar is a peer-to-peer based marketplace, and the Meme Factory provides an interface for creating blockchains.
All projects are organized decentrally. These are non- profit organizations and are purely for the enrichment of the community.
More important details about district0x Coin
Transparency is very important to the developers of district0x Coin. Accordingly, you will also find all the relevant information about the planned development steps of this coin, among other things on the website.
The official website offers the chance to get to know the team better. They are always looking for new members, who become part of the optimization and further development.
Sponsors are needed to be able to finance a project to such an extent. This is especially true if no excessive pre-mining is to take place, to allow a fair distribution of all coins. CoinFund, Boost VC and the Fintech Blockchain Group are three big names that appear on the website of district0x Coin.
In total, there will be 1,000,000,000 coins.
Become part of the network
If you want to become part of the network without becoming a direct member of the team, you can do this, for example, with your own district. There is no fixed charge to do this. Your own idea has to be presented to the network operators in the form of a plan – similar to a business plan.
At that time, a deposit is required, which will be refunded. If the project does not suit district0x, it will be rejected. In any other case, development can start right after the commitment is made.
It is possible to include your own cryptocurrencies next to district0x Coin in such a scenario. This once again underlines the transparent working methods of the team.
Alexander Weipprecht is the managing partner of Provimedia GmbH. As a trained IT specialist for application development, he has been advising leading companies on the following topics for more than 10 years: online marketing, SEO and software. Cryptocurrency is becoming increasingly important to businesses and investors. Through Coin Report and Krypto Magazin Germany, Alexander wants to give all people easy access to the subject matter.