DigitalBits
DigitalBits is a protocol layer blockchain built to support consumer digital assets, specifically branded currencies. With a focus on mainstream crypto adoption, DigitalBits' branded cryptocurrency facilitates a unique opportunity to enhance the interaction and transfer of value between the brand and the consumer[1][2].
Overview
DigitalBits allows for the tokenization of any asset on their blockchain, while the first use case is the Loyalty Reward Points industry, which already provides a vast target industry and the opportunity to solve an actual problem for consumers and businesses[3].
DigitalBits’ main value proposition is to provide secure tokenization of all types of assets. However, the main focus is the tokenization of loyalty and rewards points programs that are established means to improve customer engagement and brand awareness. The protocol allows seamless integration of existing consumer applications, enabling them to leverage blockchain technology to help facilitate mass market liquidity for those digital assets. DigitalBits chose a top-down approach to improve the status quo of blockchain and crypto adoption. DigitalBits can interface society with the benefits of blockchain technology and improve the user experience of blockchain-based systems[4].
DigitalBits’ open-source system supports network architecture and allows the management of alternative servers. Through its API, developers can write new applications on the DigitalBits Platform. This system enables every software developer to write software in their own languages instead of the Ruby or Solidity languages that are little used and share them with the world.
DigitalBits utilizes multi-hop technology to further support the potential for on-chain asset liquidity. Multi-hop enables the potential for trades to be completed up to 6-intermediary hops, in the absence of a direct market. This amalgamates all other order pairings within the ecosystem in such a case, to ultimately satisfy the initial trade.
- Authenticate/Open Accounts: A protective security feature known as anti-spam requires every account on the DigitalBits blockchain to stake a minimum of 10 XDB. This ensures authenticity and enables the account to send outgoing transactions.
- Bridge Token: Enables transactions among non-native tokens - XDB has the potential to operate as a bridge currency to facilitate trades between pairs of digital assets that may not have a large direct market.
- Gas/Transaction Fees: Each transaction is subject to a minor transaction fee of 100 nibs (0.00001 XDB). A second anti-spam feature, this fee creates a financial disincentive for malicious users that may look to flood the network.
- Low-cost payments: Leveraged for fast and low-cost payments and remittances - up to 10k TPS[5][6].
Team
- Al Burgio – Founder
- Thomas Madej - Director of Technology
- Michael Luckhoo - VP, Operations
- Rajiv Naidoo - Head of Research & Community
- Nazariy Hazdun - Engineering Manager
- Aleksandr Tabachuk – DevOps
- Ryan Burgio - Director of Marketing
- Jane Yoon - Senior UI/UX Designer[7]
