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What is DBX?
DBX is an innovative global digital ecosystem that is designed to be a bridge between cryptocurrencies and traditional finance. It is built as an amalgamation of the advantages of the Binance Smart Chain (BSC), the Ethereum blockchain, as well as SWAP bridges and smart contracts. Overall the aim of the DBX ecosystem is to facilitate users' and investors’ interactions with digital and traditional assets.
Who runs the DBX network?
The DBX network is completely decentralized and as such has no single person or party with total control over the decision-making processes pertaining to the network. The community of users has the power to determine the development vector of the network. And although DBX has a team of developers constantly working on new features and improvements, they do so to meet the demands of platform users.
How valuable is DBX?
DBX has value as long as people trust cryptocurrency and want to use it as money and as a tool for earning, thereby creating demand. When demand exceeds supply, the price of DBX increases. At the same time, the DBX coin has a built-in system to provide stability and protection against the high volatility, inherent in most cryptocurrencies. User confidence relies on a completely decentralized system, built on the principles of keeping records in a distributed blockchain ledger, which prevents counterfeited DBX coins or double-spending transactions. In addition, DBX cryptocurrency provides completely anonymous transactions at the user's request, ensuring full DBX coin fungibility and value.
What is coin fungibility?
Fungibility means that all coins of a certain cryptocurrency have equal value. Thus, no DBX coins can be valued higher or lower than the same amount of other DBX coins. This is guaranteed by the anonymity of transactions, which does not allow tracking coins or their owners, and keeps the DBX history clean. When you receive such coins, you do not need to constantly check each one to ensure any dirty transactions in the past, for fear of getting marked, to which in the future someone could have any claims or the owner of which could become the object of persecution by the special services or any kind of legal status organizations. When money is fungible, you do not need to worry about it and make the unpleasant efforts described above.
How confidential is DBX?
The DBX cryptocurrency network uses the technology of minting or converting coins into a special pool each time a new coin is added, which will then participate in the transaction. This is possible thanks to the improved Zdbx protocol that hides both the sender and the recipient of the amount sent, since the coins are exchanged and mixed in the pool, while both sides of the transaction receive tokens at the time of its execution, confirming the ownership of DBX coins of a certain value. Therefore, in the DBX network, all transactions are private by default, which means that you can not even accidentally send a transparent transaction that anyone from the outside can view. You should not trust anyone else for your privacy.
What is a view key?
While all transactions are inherently private, if you have such a need to conduct a public transaction, as the owner of the protected address you can use the ability to share special viewing keys and, if you wish, share your protected address with those with whom you would like to share the details of the transaction.
How fast are transactions on the DBX network?
Due to the PoA consensus used on the DBX network, the speed of transactions is reduced to 1 second. DBX has a high speed of transaction confirmations as blocks are generated one after another at a designated period of time authorized by the network nodes.
What DBX fees are charged?
DBX charges minute transaction fees of $0,000001. The SWAP bridge technology that enables transactions with different blockchains also enables DBX to drastically reduce the fees for transacting with non-scalable blockchains.
Can I make money on DBX?
Yes, via staking and smart dividends. DBX allocates more than 45% of the total supply of DBX tokens to rewards for holders. Our users can earn money by simply depositing DBX tokens dedicated to supporting the security and operations of the network– a process called staking. However, you should not rely on the notion that you can get rich quickly in any financial system, and in any case, you should always be careful and attentive when acting at your own risk.
What are cold and hot stakings?
Cold staking does not require your wallet with locked coins to be constantly connected to the network, which saves you time and does not require your constant attention, since you do not need to monitor its status and keep your wallet on all the time. Hot staking is the opposite– hot wallets are kept online. While cold wallets are more secure, keep in mind that you may be required to use a hot wallet when using some third-party services. In addition, you will not be able to participate in maintaining the network, if the third-party hot wallet is disabled.
How does staking DBX allow you to make money?
DBX allocates more than 45% of the total supply of DBX tokens to rewards for holders. Staking in the DBX system is an alternative to cryptocurrency mining. You can earn money as rewards and interest by simply depositing DBX in your digital wallet to support the security and operations of the blockchain network.
What is Proof of Authority?
The Proof of Authority (PoA) on which the DBX Smart Network blockchain is built is a consensus mechanism that uses a reputation system and relies on a set of trusted nodes to create and validate blocks. These nodes use a simplified algorithm for exchanging messages to achieve higher performance. Only node validators with high reputations can create new blocks in DBX. Using a PoA mechanism allows our network to be energy efficient, secure, and fast when processing transactions.
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