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.
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 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.