Ladies and Gentlemen,We are happy to announce the significant step forward, we were working on it for the last several months.
Bank alike blockchain deposits with interest rate, based on XDN proof-of-work blockchain.
DigitalNote is the first cryptocurrency implemented decentralized blockchain banking on the top of blockchain technology. Today we announce a new version of DigitalNote wallet with blockchain banking deposits support.
DigitalNote wallet now looks like and act like a traditional banking system, but decentralized, with no central authority and based on Proof-of-work mining process.
Also there is an update of DigitalNote source code with some additional information about deposits with print_stat command. With blockchain deposits we are opening a new chapter of DigitalNote story, stay tuned.
About Digital Note Blockchain deposit.Digital Note is a first cryptocurrency with decentralized proof-of-work blockchain banking implementation.
And here how it works:Every XDN user can make a deposit. In general deposit is a "lock" for your coins for some time with some interest when "lock" expires. When user make a deposit, he choose the time and amount of deposit, after deposit made, deposited DigitalNotes can not be spend before deposit time expires. So with deposits, the amount of "active" digitalnotes in circulation becomes lower. Every user of XDN network can verify the amount of network deposited XDN units and the amount of active XDN in circulation. (check print_stat command)
Some values: 150XDN - minimum deposit amount
11000 blocks ~1 month - minimum deposit time
11000*12*10 blocks ~10 years - maximum deposit time
Annual interest rate 0.4% - 1.094%
Interest rate depends only on deposit time.
Some example:Alice has 10000XDN and she wants to deposit all for about 1 year. An annual interest rate for that deposit will be about 1%, so after 1 year Alice will receive 10000XDN (Alice initial funds) + 100XDN (Alice interest)
Deposits and Proof-of-activity (PoA)Deposit is a new CryptoNote instance. With deposits we can implement a very useful element of crypto security, called Proof-of-activity. It is a variant of hybrid PoW/PoS process. DigitalNote is a proof-of-work cryptocurrency, even now, and deposits are implemented on the top of pow blockchain. We are working on proof-of-activity implementation on the top of deposits, to make XDN the most secure crypto.
DN. DigitalName project.DigitalNote Alias DNS-JSON API. We would also like to announce that we are working on contiguous project called DigitalName. It is a DNS-JSON API for cryptocurrency aliases. It will work with all cryptos, but made for DigitalNote by DigitaNote devs. And DigitalNote wallet will be the very first wallet with DigitalName support.
I guess that we will announce it in less than 2 weeks from now.
Stay tuned and enjoy DigitalNote decentralized blockchain banking.
Freedom exist.
New wallet version with deposit support:https://mega.nz/#!e48AnJjS!PtozvWYUS9qg-A1Zs8_86qdxCSM2ir-LLp5IZ52KlKk DigitalNote wallet Win64
https://mega.nz/#!Pw0wAQIL!aA9S6WVtfU0LeGHgggEKHW8pkdtS72FkuroJJt020Xo DigitalNote wallet Linux
https://mega.nz/#!ust00JZC!LfNGJWET-XrsjVQhzBKQi9EEgffH4ampcboRz7NH25k DigitalNote wallet OSx
https://github.com/xdn-project/digitalnotewallet Source Code