DigitalBits – Mind Mapped

Overview of DigitalBits

DigitalBits is a protocol layer blockchain built to support consumer digital assets, specifically branded currencies. This is inclusive of assets which include loyalty and rewards points, and notably, the growing asset category of branded stablecoins. Considered the second generation of stablecoins, a Branded Stablecoin enhances the relationship that exists between the brand and consumer.

DigitalBits prend en charge les transactions ultra-rapides et sans frontières, garantissant que les actifs numériques fongibles et non fongibles peuvent se déplacer de manière transparente entre les participants au réseau, partout dans le monde.

DigitalBits was developed to be open enough to allow a range of businesses to join or support the project in various ways, whether through pre-existing products and platforms they want to be interoperable or consumer-focused loyalty programs.

DigitalBits is a protocol layer Blockchain designed to help facilitate mass market liquidity for various digital assets, and integrate with existing apps to drive market-adoption of Blockchain technology.

DigitalBits is focused on supporting innovators with driving enterprise adoption of cryptocurrency and its use in enhancing the consumer experience and corporate social responsibility initiatives.

DigitalBits supports lightning fast, borderless transactions, ensuring fungible and non-fungible digital assets can move seamlessly between network participants, anywhere in the world.

DigitalBits strikes a sweet spot necessary to effect change by allowing in-app
integration all this while minimizing the change to user’s learned behaviors.

DigitalBits also reported that the two companies “may explore the buildout of a novel registry to accommodate branded currencies tokenized on DigitalBits.

DigitalBits could solve that problem by allowing me to convert my Kroger rewards points into dollars I could spend online or deposit into my bank account.

DigitalBits founder and CEO of Zytara, Al Burgio will be taking part in a live AMA hosted by @BittrexGlobal tomorrow morning at 9am EST.

Blockchain

DigitalBits is a protocol layer blockchain built to support consumer digital assets, specifically branded currencies. This is inclusive of assets such as loyalty and rewards points, and notably, the growing asset category of branded stablecoins. Considered the second generation of stablecoins, a Branded Stablecoin enhances the relationship that exists between the brand and consumer.

Mine

Network

“We are excited to work with our partners to fulfill our vision of expanding the Zytara dollar onto the DigitalBits blockchain network, following the successful launch of ZUSD on Ethereum in 2020, “ stated Lisa Loud, General Manager of Digital Currency at Zytara.“Zytara is also committed to operating DigitalBits network nodes across the globe, helping to transform this blockchain into a world-class technology.”

Support

DigitalBits fills the gap in the state of the art by presenting the DigitalBits blockchain powered infrastructure that builds a bridge facilitating
the implementation of new technologies to support and enhance our every day life interactions as well as foster blockchain mass adoption.Finally, we present the XDB
token value proposition and the surrounding token economy ecosystem
that fuels the platform.Furthermore, we introduce the novel
idea of the token name certification service (TNCS) that prevents malicious network entities from issuing and distributing illegitimate tokens
of assets that they are not associated with.In addition, we present the on-boarding
process of digital assets and the asset tokenization which is an indispensable functionality of our platform.The
DigitalBits blockchain allows for easy asset-tokenization using a transaction and trading layer for the point economy.We present a loyalty- and
reward points focused running case, detail the advantages of the system,
outline the requirements and goals, as well as the architecture of the DigitalBits network and ecosystem.

Transactions

And, because there is no middle man to impose excessive fees, DigitalBits can quickly and inexpensively resolve transactions on the networks.As such, DigitalBits is ideal for a transaction of any size that requires a near real-time response.By tokenizing on the DigitalBits blockchain, these reward programs have the potential to enhance the perceived value of many of their loyalty point and rewards.Frictionless on-chain transfer and trading between digital assets helps solve the liquidity problem loyalty programs face today.

What is DigitalBits?

DragonSphere is a Dragon Ball Z theme coin.It allows instant transactions to anyone in a world.

What hashing algorithm does DigitalBits use?

DigitalBits is a proof of work (PoW) and proof of stake (PoS) coin that uses the X11 algorithm.

What Value Does DigitalBits Have?

For instance, CoinDesk reports In addition, Naidoo thinks Facebook’s (FB) infamous Project Libra is a stablecoin scheme.

Are Branded Stablecoins For Real?

In they addition, they designed the DigitalBits Token (XDB) to support many assets including fiat currencies, loyalty points, gift cards, rewards points, cryptocurrencies, and commodities.Hence, you could theoretically convert XDB into Euros, rewards points, or gold.

Can DigitalBits make money from Rewards Points, Loyalty Points and Gift Cards?

The DigitalBits team estimates the global market for gift cards, rewards points, and loyalty points’ at over $200 billion.

What Does DigitalBits Do?

The objective of the platform is to shift the centralized mentality of the crypto trading to a decentralized system that is more secure, faster, and non-exorbitant to consumers.The decentralized systems will give more value to the consumers and all the stakeholders in the industry.It, therefore, eliminates the existence of an intermediary in the crypto world.

How do I buy DigitalBits?

It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including DigitalBits.

What Is DigitalBits?

Digitalbits is a global blockchain platform that is committed to decentralizing the cryptocurrency world.It uses a blockchain network technology with the view to enhancing portability and liquidity of the crypto trading.The company intends to decentralize crypto trading to give more value to consumers, organizations, and business in the portfolio.It has therefore created digital tokens that are easy to use in decentralized global network by giving points to the users.

How Does it all Work?

Solving the problems inherent in current loyalty programs will not be easy.Introducing a decentralized and transparent platform is a positive step in the right direction.Rather than relying on intermediaries to manage the loyalty rewards issued by retailers to customers, the intermediary is removed from the equation altogether.

What is
DigitalBits?

Put simply, this project seeks to unlock value in the pockets of millions as per their official Twitter description.To achieve that, they are tokenizing pre-existing digital assets in consumer applications.Condensed, DigitalBits is a blockchain for brands.How is this? Well, they do this by integrating with consumer brands and in doing so, they effectively shorten the gap for blockchain’s adoption.

What Is Digitalbits Cryptocurrency?

Blockchain-oriented projects are crawling out of the woodwork as we speak.Digitalbits wants to introduce a brand-new loyalty and reward program supported by this innovative technology.It is evident that current loyalty systems face some big problems which will not be all that easy to solve.

How do I mine DigitalBits?

DigitalBits can be mined using specialized mining software.XMR Stak is a commonly-used mining tool that works for CPU mining and GPU mining with both Nvidia and AMD graphics cards.CCMiner is another popular mining tool for computers with NVIDIA graphics cards.In addition to having mining software, you will need a DigitalBits and access to a mining pool that pools your effort with other miners and a wallet to store the DigitalBits that you earn from mining.Most cryptocurrencies have multiple publicly-available mining pools that can be found with a simple Google search.

What is the value of DigitalBits?

One DigitalBits (XDB) is currently worth $0.12 on major cryptocurrency exchanges.You can also exchange one DigitalBits for 0.00000213 bitcoin(s) on major exchanges.The value (or market capitalization) of all available DigitalBits in U.S.dollars is $90.55 million.

What coins are similar to DigitalBits?

The following coins use DigitalBits’s X11 algorithm and proof of work (PoW) and proof of stake (PoS) proof-type: Dash, Secret, MimbleWimbleCoin, Meme, SYNC Network, Pinkcoin, CPChain, Enigma, I/O Coin, Tapmydata, Memetic / PepeCoin, Capricoin+, BlueCoin, Degenerator and ATMChain.

Where can I get DigitalBits wallet?

DigitalBits produces its own wallet software that is available for download on its website, which allows you to store DigitalBits on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

What Value Does DigitalBits Have?

Currently, DigitalBits has an open-source protocol developed from the Stellar (XLM) protocol.In addition, there is the DigitalBits Token (XDB) an Ethereum-based cryptocurrency.