This publication will be devoted to the DigitalNote cryptocurrency project, which provides users with a system with a new level of anonymity – as the developers say, its performance indicators are able to surpass even the Bitcoin blockchain figures.
The DigitalNote platform is a cryptocurrency platform, which is based on the blockchain technologies. The DigitalNote project was founded in 2014 as Fortecoin fork. At the time of the creation, the system’s tokens were called duckNote, then they were renamed DigitalNote a year later. The DigitalNote cryptocurrency project offers its users a high level of security of personal data storage, as well as the confidentiality of the transactions carried out using a specialized protocol called CryptoNote.
Among the main distinctive features of the DigitalNote project, it is necessary to note following:
- Use of ring signatures to confirm transactions with the participation of several users of the system, which excludes the definition of the sender and the receiver of the assets;
- Work with separate payments through the operation of the original keys;
- The ability to send encrypted messages to anywhere in the world.
The DigitalNote basic facts
The DigitalNote platform is represented by a decentralized service based on the use of blockchain technologies for handling cryptocurrency in conditions of increased security and confidentiality. The mechanism of the system contains an algorithm for proving the operation of PoW, as well as a modified version of CryptoNote. Along with the opportunities to operate cryptocurrency assets in the direction of buying and selling, users can use the depositary functional for profit.
DigitalNote system features
The security and decentralized management of the Bitcoin network began to fall as early as 2014. In this regard, experts in the field of cryptocurrency projects began to develop various new systems to solve the emerging problems, one of which was the DigitalNote platform.
One of the main features of the DigitalNote system is its own messenger, which allows network users to exchange private messages, as well as the following functionality:
- Use of the depository, which brings up to 2 percent of profit annually;
- Use of the mechanism of protection against mining by means of specialized capacities;
- CPU-mining using video cards;
- The internal cryptocurrency wallet;
- The license of the Massachusetts Institute of Technology.
With all the features of the DigitalNote project, its specificity is quite standard:
- The volume of the issue of tokens exceeds 8.5 billion units;
- Integrated modern economic model based on the blockchain model;
- Mining is protected from ASIC usage;
- The reward for the extracted block is 150 tokens;
- The block generation time is 4 minutes;
- Deposit rates up to 1.089 percent per annum;
- The speed of work is three times higher than of Bitcoin;
- The possibility of producing tokens on low-power personal devices;
- The minimum commission amount is 0.001 XDN per transaction.
Advantages of the DigitalNote project
Among the strengths of the DigitalNote system are the following:
- Proof-of-Work protocol integrated into the system, providing enhanced transaction confirmation and increased level of protection against hacker attacks with unique complexity of each node and changing its level for each next block;
- Network peer-to-peer while maintaining autonomy;
- Increased security level;
- Complete anonymity of operations.
Not such a high level of popularity of the site DigitalNote provides users the ability to conduct operations in the system at high speed.
Disadvantages of the DigitalNote platform
From the minuses of the DigitalNote system we can note such aspects:
- The cost of mining due to the need to invest in expensive equipment to achieve high performance while not guaranteeing the success of the event;
- Risks – even with the use of all functionality to protect assets, it is possible to face a hacker attack and lose your funds;
- Lack of support – cryptocurrency assets are not supported by the gold fund in comparison with standard currencies, which does not allow forecasting fluctuations in the exchange rate and subsequent development prospects;
- An impossibility of cancellation – the transaction cannot be canceled if invalid recipient data is specified.
The scheme of work in the DigitalNote system
Users are provided with an internal cryptocurrency wallet called Simplewallet, with the use of which functionality it is possible to operate with digital assets, work on the exchange, integrate their own data, and also operate the token mining.
You can acquire XDN coins when creating a deposit within the DigitalNote platform. At the same time, the received assets can always be converted into other currencies through exchange.
Analytics of the DigitalNote course
At the time of publication of the article, the cost of XDN tokens is 0.012339 US dollars or 0.00000150 BTC. The maximum price of the coin XDN reached in early 2018, after which you can see a gradual decrease in the value of the token. This is due to the release of more XDN coins to the cryptocurrency market – but soon, according to experts, we should expect a jump in price.
General indicators of the volatility of DigitalNote are small, which can be considered an advantage of the XDN token, as it simplifies the prediction of the situation.
DigitalNote project outlook
The question of replacing Bitcoin has been around for a long time. At the same time, his “successor” should be more technologically and more perfect in all aspects. In this sense, the DigitalNote project has every chance of becoming a leader in the race for the championship because developers tried to solve the actual question of the anonymity of the work in the DigitalNote system and achieved impressive results – high rates of privacy and confidentiality to that proof. Along with this, high resistance to attacks and the speed of the system add pluses to the rating of the site. The DigitalNote project awaits a great future, provided that the dynamics of development remain.
Specificity of buying digitalNote tokens
The total volume of XDN token emission is more than 8.5 billion coins, the bulk of which was obtained as a result of mining. The current price of the XDN token is available at https://coinmarketcap.com/currencies/digitalnote/. Capitalization indicators are about 85 million dollars. XDN coins are available for purchase as part of HitBTC’s resources in the calculation of the US dollar, Bitcoin and Ethereum.
The public talks about DigitalNote
Despite the launch of the DigitalNote project in 2014, he was unable to increase popularity rates compared to other altcoins in the cryptocurrency market. This can be explained by the insufficient contribution to the marketing campaign.
Conclusions about the DigitalNote system
The DigitalNote system is a simple and reliable project that provides high speed while working with cryptocurrency assets within high levels of privacy and security. Of the advantages of the DigitalNote system, we note the protection of data and facilities, the high speed of transactions and the stability of the site, out of the minuses is a low level of popularity and a weak infrastructure, which is correctable. Specialists of the cryptocurrency world prophesy the XDN token of growth in value in the near future.