What is District0x (DNT)?
Future of DNT Cryptocurrency and know how to buy DNT

#1: What is District0x?

District0x: The Basics

  1. The district0x network is a collective of decentralized and autonomous marketplaces and communities, also known as districts. These districts are built upon a decentralized and distributed open-source framework, the d0xINFRA network, which is powered by Ethereum smart contracts.
  2. The district0x network aims at creating a friction-free, virtual economy where the users will be able to make buying and selling decisions, complete transactions, and even rank their peers with just one simple click.
  3. District0x aims to develop a flexible, and free market with advanced entrepreneurial concepts.

District0x Development

  1. Backed by ‘Aragon’ governance and the distributed file system ‘IPFS’, the network believes every district solves a core function:
    1. Ethlance - a freelance job market, and the first district of the district0x Network, it not only serves as an experimental sandbox for creating and revamping the d0xINFRA framework, but is also responsible for search, filtering, posting, ranking and listing functions.
    2. Name Bazaar - a peer-to-peer marketplace for the exchange of names registered via the Ethereum Name Service, it looks into the core framework or the contracts for the d0xINFRA network
    3. Meme Factory - Inspired by the work of Simon de la Rouviere, and his Curation Markets design, the third district looks into various curation and community functions.
  2. The district0x coin forms an integral part of the network of districts. A new unit of the cryptocoin is generated every time a new district is created on the platform. District0x Coins, however, can also be purchased in the open market.
  3. The district0x network is run by a team of diverse developers from various geographies. It was founded by Matus Lestan in August 2017. He is also the lead developer of the network. He has a keen interest in decentralization of protocols and and has also worked to enhance and spread the Clojure-Ethereum ecosystem.
  4. Joe Urgo, the co-founder and incharge of operations for district0x, is also the founder and CEO of Sourcerers.io.

 

#2: What are the benefits of District0x?

District0x features

  1. The District0x infrastructure has a very neat concept with some well-outlined features:
    1. The Staking Interface: A staking interface is put in place that allows DNT holders to have open control over the districts through an Aragon governance layer for all markets that come online. Post creation of a district, an Aragon entity will also be created that people can use to interact with this staking mechanism. After staking a user will receive voting rights in that district.
    2. The District Creation Interface: Using the creation interface, one can remove central power structures from any marketplace without the additional need for development or programming skills. It can be described as the WordPress of dApps where the districts being launched are like wordpress templates and the auxiliary modules are WordPress plugins for extended functionality.
    3. Governance: Aragon is utilized as a governance layer for the d0xINFRA network. It enables districts to stake DNT. It also facilitates one to start building district-specific governance functions and models wherein people will stake DNT tokens. Some of these governance models are:
      1. Time based staking
      2. Stake weighted
      3. Meritocracy and reputation hybrids
      4. Liquid democracy or delegate style governance
    4. After a user has staked DNT to a district, he/she will be granted access to the Aragon entity’s voting rights. Due to the modular nature of Aragon, the benefit of staking will vary according to the district.

The District0x technology

  1. The d0xINFRA network, which supports the district0x cryptocoin, follows an open-source infrastructure based on Ethereum smart contracts, along with well designed front-end libraries. These collectively govern the deployment of new districts into the network, and then facilitate their baseline functionalities.
  2. Each district’s backend logic is controlled by a combination of d0xINFRA. The contracts shared by all the districts participating in the network and a set of district-specific contracts also government the back end technology of the coin. The front-end uses reusable modules for the same. It employs reusable components and also ensures a broad UI visual diversity.
  3. Essentially, the network has been designed as an extendable modular system that allows districts to implement unique features, and experience an enhanced functionality using plug-in abilities of various auxiliary functional units.
  4. For instance, an auxiliary module can be designed to provide a mechanism for users to bid on premium placement of their listings, thus gaining revenue for the districts. A different one can enhance the user experience of a district using a moderation mechanism, that allows for the identification and takedown of spam, explicit content or malicious links.
  5. Furthermore, Aragon, the underlying innovative operating system for decentralized entities provides a framework that allows user-friendly management of basic functions like voting-right distribution, role assignments, and accounting among others.
  6. The district registry is a decentrally maintained district whitelist that acts as a storage-space for the credentials of districts that have been granted access to the network. The presence of a district in the district registry signifies that the district can be deemed to be non-malicious and value-additive to the network.
  7. Beside the sophisticated technological infrastructure, the advantage of using district0x lies in its user interface. The users get to vote for district proposals and make decisions within certain districts. The district0x platform users also have ease of interaction with the abilities and services provided by each district in the network.
  8. Moreover, they also have the liberty to freely create their own districts. Ethlance users, for instance, can post job offers or hunt for new jobs within the community. The district0x network makes way for the creation and management of districts that can function as decentralized autonomous organizations or DAOs.

 

#3: How to Buy & store District0x?

Where can one buy district0x (DNT) coins?

  1. While it is very difficult to buy lesser known cryptocurrencies using fiat currencies (dollars, euros) directly from crypto-exchanges, district0x or DNT can be easily purchased from various exchanges using Ethereum or Bitcoin as the base cryptocoin.
  2. Binance is one of the popular exchange platforms that can help trade Bitcoin or Ethereum for District0x. Other exchanges include OKEx, and HitBTC.
  3. CoinSwitch, the largest cryptocurrency conversion platform, provides trading options for over 300 cryptocurrencies. It provides the best rates by comparing rates across all major exchanges. One can trade or exchange district0x coins (DNT) at competitive prices through CoinSwitch using simple and fast steps.

Where can one store DNT coins?

One can use various wallets like myetherwallet.com to store the district0x (DNT) coins. Coinbase, Blockchain, Exodus, Ledger Wallet are also wallets that support the district0x cryptocoin.

 

#4: What is the future of District0x?

Also Read: Complete Analysis of District0x | Live District0x (DNT) Price Charts And Predictions

Month

Open

High

Low

Close

Volume

Market Cap

July 2018

$0.03393

$0.03665

$0.03390

$0.03466

9,05,129

2,03,55,400

June 2018

$0.04193

$0.04206

$0.03671

$0.03866

6,10,822

2,51,60,500

May 2018

$0.08400

$0.09905

$0.08292

$0.09553

32,23,320

5,03,98,600

April 2018

$0.07001

$0.07692

$0.06857

$0.07351

58,06,210

4,20,05,800

While its average price stands at $0.034 as of July 2018, the cryptocoin has seen a steady decrease in its average monthly price from ~$0.10 in May 2018 to ~$0.035 in July, 2018.

Future Trends

  1. Some market experts believe that the historical trend line of district0x is expected to reproduce itself in the near future. Future trend forecasts have shown a further decrease [3].
  2. However, others expect the cryptocoin to see an increase in the price from $0.034 in July 20118 to an average price of $0.07 in August 2018 and the corresponding months. While there is a mixed sentiment about the cryptocoin, it has an interesting concept and design for support.
  3. With around 600 million DNT coins in circulation, the cryptocoin is expected to gain traction among the traders and enthusiasts.

 

#5: How is district0x different from other cryptos?

  1. The cryptocoin, district0x, differs from most coins in its underlying concept and the architecture it is built on. The concept of interconnected districts and marketplaces promises a novel structure to the modern economies. What a lot of users are missing out on is the fact that it is a staking mechanism and not just a voting token. Staking is basically the process of mining the PoS (proof of stake) coins. Early investors will be able to lock their tokens to a specific district on the network, thus being able to participate in its governance later.

  2. DNT tokens can be staked in districts, thus they not only give voting power and privileges within that district but also provide district-specific tokens depending on when the investor had started trading. For example, early investors of the PoS token will be able to make decisions about the distribution of profits among stakeholders, the intricacies of the business model etc. DNT can basically be considered as a dynamic stock in the future district0x ecosystem.

  3. Moreover, DNT coins entitle a user to vote on changes and additions to the district0x network, thus authorizing them to govern the network in certain ways. The ability to vote for new districts which should be made by the development team. In the future, more power will be given to DNT holders; the district0x team has stated that governance of the entire district0x network will eventually be entirely in the hands of token holders. While these traits set the district0x coin apart from the other cryptocoins, there are several other perks of investing in a relatively nascent digital currency.

 

#6: Should you invest in district0x?

  1. Owing to the fact that it is a relatively new digital coin, with a clean website, and an intelligible white paper[5], district0x could make for a good investment option.
  2. Due to the technological design and the user experience offered by the digital currency, some would claim DNT is a must-buy for 2018. We’d recommend you do your own research as well, of course.
  3. Since a lot of domain experts and enthusiasts believe that the cryptocoin will see an increase in the price and the volume, it is advisable to monitor the market closely and invest in district0x at its current low price of $0.034 per coin.
  4. Furthermore, since DNT has already seen prices above $0.10 in the past, it may be likely that the cryptocoin will pick up on the trend in the near future (given that the dip was due to the bear trend in the crypto market as a whole). However, one should read about the various key-terms[6] and nuances of the backend algorithms before investing in the technology.
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