I’m gonna continue with the series of altcoin posts writing about all the cryptocurrencies available on our exchange. The world of cryptos is growing so quickly, it might sometimes be difficult to keep track of what all the different ones are and what they are for. There’s a huge variety of cryptocurrencies out there, each have their own little niche and every single one brings something new to the table. In this article I have a glance at Digitalnote. What is its purpose and how it can be used.
Decentralized and private blockchain banking. Secure proof-of-work, truly anonymous
digital payment system with crypto messages, multi-signatures and bank alike deposits.
Based on CryptoNote. Ahead of Bitcoin.
Digitalnote, previously Ducknote.
Let’s firstly look at its specs:
- The maximum number of XDN is 8 589 869 056
Digitalnote is ready for mass adoption, it is an accurate digital money and the 6th perfect number
- Libertarian XDN supply with ASIC resistant mining – provides you with a unique model of market economy combined with blockchain technology
- The block reward is 150 XDN
Predictable for miners due to a constant base mining reward
- Deposit interest rate: 0.4 to 1.094% annual
It is the only cryptocurrency that offers deposits
- Block target time: 4 minute
Digitalnote gives you a block time that’s the quarter of Bitcoin’s
- Mining algorithm: Proof-of-work, CryptoNight
CPU-efficient mining process for average PC or laptop. No need to build a farm!
- Minimum transaction fee: 0.001 XDN
DigitalNote makes micropayments ridiculously easy
What does all this actually mean?
- Based on CryptoNote anonymous technology
Digitalnote is an open source, peer-to-peer digital currency like Bitcoin and many others. The difference between DigitalNote and Bitcoin is the anonymity of DigitalNote. As with Bitcoin all the transactions are recorded in the blockchain and are visible to everyone, forever. If you want to keep your financial affairs private, Bitcoin might not be the way to go.
- CryptoNote provides an untraceable encrypted messaging system
Its instant messaging system gives you a secure, untraceable and unlinkable way of crypto messages. Totally encrypted communication. This will ensure that your chats remain strictly confidential. Nowadays you can’t really be sure what is done with your data. I wouldn’t recommend sharing confidential info via Skype or Facebook. With CryptoNote’s messaging you don’t need to worry. Even when you have nothing to hide, privacy is important. It is your right!
- DigitalNote is the only cryptocurrency with blockchain deposits.
This means it is essentially your own digital bank, however it is not controlled by anyone. This libertarian ideal would like everyone to be in charge of their own finances. You can lock your DigitalNotes on a deposit account and accumulate a fairly decent interest between 0.4-1%
Digitalnote’s deposits are its main factor of supply.
Innovators of the World
Just like Bitcoin DigitalNote has this awe of innovation and anarchy about it. The philosophy is that no one should control your finances. It can be done differently. Banking doesn’t have to be expensive and slow. Come on world, we’re already in the 21st century yet credit cards are still predominantly used. This is a thing of the past – invented in the sixties and still incredibly fragile and useless against fraud attacks. The world of cryptos is developing fast and soon thanks to DigitalNote and other cryptos we have a new system that is more suitable for the present.