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DigiByte community gears up for Global Summit while founder Jared Tate finalises book on decentralized internet

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DigiByte community gears up for Global Summit while founder Jared Tate finalises book on decentralised internet
Source: DigiByte Global Summit

When figures show that more than 60 percent of the top 100 crypto projects do not have a finished product and that over 800 cryptocurrency projects have failed, it’s easy to be skeptical about all things crypto. Among the thousands of coins available in the crypto market, a very few can live up to their promise to ‘revolutionise’ the financial system. One of the revolutionary few, however, isDigiByte [DGB].

DigiByte is thriving because it is more than a cryptocurrency; it is a coin designed to build a new internet through decentralization. DGB has one of the strongest use cases in the cryptocurrency market. It can support over 48 million transactions a day̶10 times the current transaction capacity of the top 50 blockchains by market cap.

Ranked within the top 50 cryptocurrencies by market cap, DigiByte celebrated its 5th anniversary last January and has become the largest, fastest and most secure blockchain in current existence.

Behind the development of DigiByte is a team with a forward-thinking approach, constantly working to improve the token and to ensure the best use case for a multitude of financial services applications.

The newest features in DigiByte are Digi-ID and DigiAssets, both built on the highly secure DGB platform that allows decentralized technologies to be applied to digital identity and safe management of digital assets. Digi-ID is extremely secure because it automatically generates a unique identification key for different websites every time the user logs in, therefore protecting the user’s identity from being shared with third parties.

Digi-ID comes fully integrated into DigiByte mobile wallets, which are free to download and use. It can also be implemented into multiple platforms including mobile banking, streaming services and social media. Digi-ID works before unlocking, making logins much faster.

In addition to Digi-ID, there is new DigiByte product using DGB Pay API, expected to be announced in February.

Beyond the DigiByte realm, its platform is being deployed now to develop Antum and V-ID, two promising projects powering blockchain to provide verification and digital identity services.

The DGB community and enthusiasts can expect more news and updates on DGB projects to be released during the first global DigiByte Summit, taking place in Amsterdam on 19th April 2019.

While the community is preparing for the summit at Easter, DGB founder Jared Tate is progressing with his book. Jared Tate said that: “Blockchain 2035: The Digital DNA of Internet 3.0”. Tate’s book will be a discourse on the multiple ways decentralized technologies are reshaping the internet. “Blockchain represents a shift of paradigm in the architecture of the internet.”

More than just highlighting the benefits of blockchain applications, Tate’s book will build the case for blockchain technology to be integrated within the fundamental internet structure. Blockchain represents the evolution of the internet whose initial concept was indeed decentralization.

The new era of decentralized power is shaping our economy and society empowering individuals while increasing their responsibilities, challenging traditional institutions and the current security framework, driving innovation towards a tokenized economy,” comment Steffy (Stefania Barbaglio), official PR at DigiByte.

This is a result of the development and integration of new technologies, the hyper-connectivity brought by smart devices, big data and the internet of things.

“ In the future, everything in our daily lives will be connected via the Internet of Things (IoT) devices. Blockchain technology can protect your data and your privacy from this,” said DGB Founder Jared Tate. His book is expected to be one of the main publication in the crypto/blockchain space.

Source: DigiByte Global Summit

In light of this topic, the theme of the DigiByte Summit 2019 is ‘The Power of Decentralisation’ and its agenda will expand on the multitude of possibilities and uses allowed decentralized technologies. Confirmed speakers at the Summit include DigiByte founder Jared Tate; Official DigiByte PR Stefania Barbaglio; Rudy Bouwman, the founders of DGBAT, the DigiByte Awareness Team; and the founders and lead developers of V-ID and Antum.

Stefania Barbaglio, Director at Cassiopeia Services, official PR for DigiByte commented:

“DigiByte is one of the most sophisticated and advanced blockchains available in the crypto market today. It offers high levels of security due to its decentralization aspect – which is lacking in many other cryptocurrencies. With the development of DigiID, we can expect exciting projects to emerge. DGB followers will have the chance to hear about the future of DigiByte at the first Global DigiByte Summit in April. “

Contact Information

DigiByte Global Summit
April 19th, 2019
De Balie Kleine-Gartmanplantsoen 10, 1017 RR Amsterdam, Netherlands

Tickets can be purchased here at the official website!



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Press Release

What is USDQ and Q DAO?

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What is USDQ and Q DAO?
Source: Platinum Engineering

In this article, Slava Zheltov shares about USDQ, a unique decentralized stable coin that makes it easy to collateralize Bitcoin. As a Blockchain Architect at PLATINUM ENGINEERING, Slava acts as a full-stack front-end developer.

Within his team, Slava is known for impeccable track record regarding security and reliability in projects, which he’s contributed to. Read this article and start learning about a decentralization wave, currently disrupting stable coin.

The thought of your bitcoin and other cryptocurrencies fluctuating in value almost on a daily basis is a hard thing to accept. But fluctuation also affects regular money as we know it.

If we want cryptocurrencies to become the future of money it should solve the issue of volatility first. The USDQ Token is a proposal to stabilize crypto and transition it from being a speculative asset to a functional store-of-value.

Introducing USDQ

First and foremost, USDQ is a cryptocurrency stable token. Like Tether [USDT]. This essentially means that its price is stabilized or “pegged” to the US Dollar. The Q DAO platform, on the other hand, is a smart contract platform built on Ethereum. The smart contract mechanism used is referred to as Collateralized Debt Contract.

This cryptocurrency is supported by any Ethereum account and is also compatible by any smart contract developed to use the USDQ exchange function. It is more steady than most non-fiat currencies available on account of this mechanism of valuation.

Where does the USDQ value originate from?

The value of the USDQ stable coin is linked to the Q DAO smart contract platform using the Collateralized Debt Contract [CDC]. This means that anyone can choose to use their own assets, in this case, bitcoin [other top 10  crypto assets will be added in future], as collateral which works as a guarantee.

This is made possible by the smart contract platform. The collateral assets are locked after being deposited into the Q DAO smart contract platform and allows the owner to generate USDQ stable tokens in return while at the same time creating debt for the same owner.

This debt is necessary because it helps to maintain the collateral inside the smart contract until it is fully repaid by the amount of USDQ tokens it originally generated. When the repayment occurs then owners of the collateral can withdraw and receive their collateral back.

The ecosystem and economy of the Q DAO platform and USDQ Token directly links both of these to the amounts being used as guarantee or collaterals.

When more users request USDQ stable coins the total amount of Collateralized Debt Contacts [CDC] will increase along with it because it is the main way to obtain USDQ stable coins. This, in turn, increases the value of Q DAO tokens. These tokens are the last component of the USDQ ecosystem and they are Ethereum based tokens whose main use is to carefully manage the operations of the fund via means of a Decentralized Autonomous Organization [DAO] system.

This includes voting rights and the capability of enforcing decisions based on majority rules. This last part is essential to the supply and demand of the Q DAO tokens.

Inside the workings of a Q DAO transaction.

Step 1: Origin of the CDC smart contract and depositing collateral guarantees

To use Q DAO tokens a user must first send a request to the USDQ platform which initiates the CDС and its respective smart contract.

Whenever a user wishes to mint USDQ, they will be asked to collateralize an amount in Bitcoin that is higher than the loan’s value. As of now, this rate is 166%.

Step 2: Generation of USDQ Stable coins from the CDС smart contract.

The user then executes another request or transaction to the platform to retrieve the USDQ that was generated on the first step. The platform also jots down the debt that is generated by this user which is the amount in need of repayment to unlock the collateral guarantee. The guarantee is always higher than the USDQ stable coins made available for the user as a safety measure.

Step 3: User makes repayment of the generated debt.

When the user finally makes the repayment of the generated debt they gain full access to the locked collateral. There is also an accrued interest fee that is meant to be paid which is accumulated daily. This means that the Q DAO tokens generated initially are taken back and removed from circulation.

Q DAO Regulations

Since the entire operation has plenty of safety measures it is very self-regulated. Because all operations begin with any user having to provide collateral which will be lower to the amount of USDQ stable coins received it creates a dissuasive control to prevent fraudulent transactions.

Q DAO Projections

The Q DAO tokens are actually indicative of another type of cryptocurrency that is completely governed by smart contracts and economic mechanisms to influence its valuation more effectively. You should keep an eye on what the future holds for this cryptocurrency as it aims to become a pioneer in the industry of stable coins and cryptocurrencies alike.

USDQ is a decentralized stable coin, which uses algorithms to offer higher stability and reliability. Fully on-chain and monitored by high-speed AI robots, ecosystem offers reliable defenses against malicious acts and attacks.

First, run in the line of fiat-pegs, USDQ is brought by PLATINUM ENGINEERING Team, looking to edge together innovative solutions in collateralization, using stabilizing mechanisms and oracles for the high-endurance stable coin. Fully anonymous, USDQ breaks limits out of this legacy world.

PLATINUM ENGINEERING is always happy to share its latest development and architecture solutions, helping stakeholders to spread improvements across crypto projects. Being an expert company on the market, PLATINUM ENGINEERING has already helped 150 crypto startups, enabling them to efficiently raise funds and introduce blockchains to their business models.

With offices in Tokyo, Thailand, Russia, Belarus, and Korea, the team is always ready to have in-person meetings, focusing on how companies can leverage blockchain technology in order to meet their unique needs. The team welcomes readers to connect on Telegram, Facebook, or LinkedIn.

This overview may not be fully exhaustive and does not assess the viability of any project, nor its team legitimacy. Readers should conduct their own due diligence before using or investing in any of the listed Stablecoins.

This article represents the author’s opinions only and should not be considered investment advice. All described functionality in the article is still under development, it can be changed/processed. Please follow the updates.

Author Name

 

 

Sviatoslav Zheltov, IT Manager and Blockchain Architect in Platinum Engineering

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