District 0x - What you need to know about DNT
District 0x describes itself as 'a network of decentralized markets and communities. Create, operate, and govern. Powered by Ethereum, Aragon, and IPFS.'
I've researched a lot of different cryptocurrencies and I can't get past how interesting this one looks to me. The days of buying cryptocurrencies that compete with Bitcoin are over in my opinion. When I hunt for crypto, I look for new platforms with solid development and marketing teams and ground-breaking ideas. District 0x (DNT) qualified so I decided to investigate further.
Here are some of the best resources I found to research this cryptocurrency:
Website - https://district0x.io/
Whitepaper - https://district0x.io/docs/district0x-whitepaper.pdf
Reddit - https://www.reddit.com/r/district0x/
Coindesk article: https://www.coindesk.com/dao-marketplace-district0x-raises-9-million-token-sale/
Here's a quick summary from the CoinDesk article entitled 'DAO Marketplace District0x Raises $9 Million in Token Sale'
A blockchain project boasting support from industry venture firms Boost VC and CoinFund has completed an initial coin offering (ICO), netting around $9 million in ether.
Called District0x, the project aims to use ethereum smart contracts to power decentralized marketplaces and community applications. Offering 600 million District0x Network Tokens (DNT) to buyers, the ICO started on July 18 and ended on August 1.
According to data from the ethereum blockchain, a total of 2,394 participants contributed 43,170 ether to the project, an amount that was slightly less than a tentative cap of $10 million imposed by project creators.
What are districts and what is the potential here?
According to their whitepaper they are:
d0xINFRA provides districts with the core functionalities required to operate an online
market or community. Namely, the ability for users to post listings, filter and search
through listings, rank peers and amass reputation, and send invoices and collect
payments. The d0xINFRA framework is designed to be open and extendable, allowing
districts to be customized and granted additional functionality through the use of auxiliary
modules.
Ok so to simplify we are talking platforms like an ebay, an amazon, a craigslist. This is revolutionary because all of these new platforms would be using cryptocurrency, specifically DNT or sidechain tokens as a medium of exchange.
Techblogger Wrap Up
This idea intrigues me and when I like something but I don't completely understand it I research it in more depth. I've come to the conclusion that although I don't completely understand how this system will work, it makes sense from a technological perspective and this type of platform is exactly what people who value decentralization want and need.
I've made a small investment into this cryptocurrency and will be following this project extremely closely. It's new, its revolutionary and it has major potential as the latest and greatest decentralized platform to have ever been created.
Please leave thoughts and comments below!
Thanks for reading.
Sources:
District 0x - Website / Whitepaper
DAO Marketplace District0x Raises $9 Million in Token Sale - CoinTelegraph
Looks like there is everything i need to know about district0x. Upvoted.
District0x is a really great idea, but I have trouble recognizing why the token is valued at it's current high valuation. It all seems to depend on wether or not there will be a high enough demand for the token's uses, but as far as I can see those uses are rather limited and perhaps will not be so valuable when the time comes. It is much harder to pinpoint the value in this project than it is in other projects.
I will be keeping an eye on it though.. Even if I don't invest, I will be looking to participate in this technology in the future.
once it hits bittrex,bitfinex and bithump we're golden pony boy. on top of that the btc crash should pump eth which might get the ball rolling for DNT. it's looking promising in my eyes. im holding for atleast a month
It's too risky and uncertain for me, but definitely good luck to you! A month should be fairly safe anyhow... just be sure to be the first to sell, and not the last! In my personal experience, my hope outshines my fears during pumps and I end up holding longer than I should. I'll think "It'll go to 50! so I will sell at 45 because I am smart!" and then it turns out everybody else had this idea too, in fact they started selling at 42 and before I know it I am too late!
Better to be left holding the bag of something that's more or less a guarantee rather than a maybe.
Regardless though, after some bad decisions a while ago, I have decided I will never ever be selling anything at a loss ever again. So I am holding several coins that have devalued greatly... I'm just not gonna sell, screw that! I'll wait it out!
Agreed!
The rise of the bitcoin trigger different coin to surface.
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Have a nice day .
In my opinion District0x has huge potential for businesses small and large due to the cost savings compared to traditional methods in use today.
Traditional systems are burdened with each layer of every component (when you break things down) all having small associated "administrative" and "operational" costs.
If I understand correctly, everything within a district on District0x's entire platform runs at zero-cost other than a tiny fee which is needed by the blockchain to actually achieve the moving parts. Scale-out and scale-up would then, in theory, have no additional burden.
I'd love to hear comments/clarification/different views on this?
Correct. Its comparible to the cost savings achieved by IOTA but based on blockchain instead of tangle.
District 0x looks like a pretty cool project, I just watched some videos on their youtube channel and it looks promising, do you guys think it will one day replace Uber, Airbnb etc and be at the core of the sharing economy or am I getting too far ahead of myself?
This is how I understand it so I think we are on the same page here.
the way i understand it is stuff like uber and airbnb can migrate to their network. but still have it easy for others to create on there
Nice I really hope this works out then, the impact the sharing economy has had on how services operate is massive and if district 0x can host the current services while lowering the barriers to entry for other start ups then this is awesome news, we may have a sharing economy for almost everything sooner than I had imagined!
it is the new crypto currency ???
As more and more tech comes out for real world application of not just bitcoin but for all crypto currencies its interesting to see if bitcoin will remain king used to store value or if it will be overcome by cheaper, quicker, newer currencies.
Thanks for this important information. Now following.
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