DigitalBits (XDB) is a blockchain protocol that aims to increase the speed and efficiency of payments, remittances and other digital transactions. It has been designed to be used by individuals and businesses, who can use it to send money or make payments using cryptocurrency tokens rather than fiat currencies.
What Is the DigitalBits Protocol (XDB) Token
DigitalBits is a blockchain-based platform that allows users to purchase and sell digital assets. The company’s goal is to make it easier for people to invest in cryptocurrencies, earn USDT and other assets, as well as trade them for other digital currencies or fiat money.
The DigitalBits protocol (XDB Token) can be used as payment on the network and also serves as an incentive system within the network itself. It’s used by nodes within the network so they can earn tokens when they provide services such as validating transactions or maintaining consensus on blocks’ information.
After its ICO on March 1st 2018 (which saw 2200 BTC raised) and its launch on June 30th 2018, DigitalBits already has more than 100 trading pairs including XDB USDT and has been listed on several cryptocurrency exchanges together with other pairs and more.
DigitalBits Token’s Key Features
Fast Processing Speed
DigitalBits Token offers a number of key features that make it an attractive option for investors and users alike. Chief among these is its fast processing speed, which is one of the main reasons why many people have chosen to invest in it.
The speed at which payments are processed on DigitalBits can be up to 1 million times faster than other blockchains such as bitcoin and Ethereum. This means that transactions are completed immediately, so there’s no waiting around for your payment to clear before you can use it again.
DigitalBits Token is a blockchain-based cryptocurrency that can be used to pay for services within the DBC Exchange platform. It’s also a utility token, meaning that you can hold it and use it for payments on other platforms.
The XDB token has a few key features:
- It’s an ERC20 token, which means it runs on the Ethereum blockchain and is fully compatible with other ERC20 tokens. This makes transferring funds from one account to another quick and easy since there are no intermediaries involved in the process.
- The transaction fees are very low, which makes sending money through this network appealing for users who want to save money when making payments online or offline (i.e., at stores).
- You get paid dividends every time someone else uses your XDB token as part of their transaction within the DBC Exchange platform—this means you’re rewarded just by owning this cryptocurrency!
The XDB Token
The DigitalBits platform will use its own utility token called XDB to allow users to access its services. The value of this token is determined by supply and demand, just like any other cryptocurrency. Here’s how it works:
The supply of XDB is fixed at 1 billion tokens. No new tokens will ever be created after this point. As transactions occur on the network, some tokens will be burned (destroyed), thus reducing the overall circulating supply by a corresponding amount.
In this way, there are no mining rewards or staking systems, as with other cryptocurrencies—all benefits from using DigitalBits come from increasing demand for XDB itself and/or increasing transaction volume across all markets on which it trades.
DigitalBits Protective Security Feature
DigitalBits has implemented a proprietary security feature to protect the XDB token from unauthorized access and use. The DigitalBits team is confident that it could withstand an attack by “malicious parties” who may try to hack into its source code.
Tradability between unnatural tokens
DigitalBits is a protocol for the trading of digital assets, which means that it’s the platform on which you can trade XDB tokens. To start trading with XDB, you will need to buy some with another cryptocurrency like Bitcoin or Ethereum.
Once you have your DigitalBits account set up and funded with XDB tokens, it’s easy to exchange them for other assets or cryptocurrencies. You can do this by setting up an order on their platform which specifies how much of your existing crypto holdings should be exchanged at what price—and once matched with an external counterparty request (a trader who wants to buy), the trade will go through automatically within seconds.
Providing leverage for fast and low-cost payments and remittances
DigitalBits is a peer-to-peer (p2p) digital currency that offers fast, low-cost payments and remittances. It does this by leveraging the XDB coin as collateral for an open marketplace for margin lending, where users can leverage their holdings of XDB to access discounted interest rates on loans. In other words, if you have $100 worth of XDB but need to borrow $200 to finance a purchase, you can do so by using your XDB as collateral for a loan.
Is the DigitalBits (XDB) Token a Good Investment?
There are a few reasons to invest in XDB tokens:
- The XDB token is used for transactions on the DigitalBits platform, so it has intrinsic value as a form of payment.
- XDB tokens are limited in supply—the total number that can ever be created is 100 million. Each time a transaction takes place within the DigitalBits platform, some of the tokens are burned (destroyed) and taken out of circulation, while only a fixed amount is created. This means that as more people use the platform, there will be less tokens available and their value will go up (in theory).
- You could also take your chances and buy the tokens with the hope that they’ll go up in price like Bitcoin did in 2017.
- And finally, if you believe in the mission of DigitalBits and its long-term value, you could think of it as a donation to support their cause.