Many blockchain projects try to guarantee the utmost security and untraceability for users. However, not all of them provide such an impressive range of features like DigitalNote. This decentralized hybrid blockchain network has introduced crypto enthusiasts to a unique and rewarding XDN token. It offers users a range of benefits in comparison with other assets. What are they and is XDN worth investment?
Look: this DigitalNote review will shed light on the project and provide you with all the necessary details to make your own conclusions about it.
Table of Contents
What is DigitalNote
DigitalNote is a hybrid blockchain that combines Proof-of-Stake and Proof-of-work algorithms to provide crypto holders with the possibility to make transactions that are impossible to trace and secure messaging. This is a fully decentralized network that has its native token called XDN. The last one is also a trading ticker of the network with a focus on security, encryption, and privacy.
The project was originally launched in 2014 and was called duckNote. In 2017, it was rebranded and given the current name. Originally, DigitalNote offered merged-mining compatible with Monero and was powered by the CryptoNight7 algorithm. But within few more iterations, a team moved the project far ahead and provided XDN with lots of improvements to look outstanding in the crypto market.
Problem
DigitalNote aims at providing crypto holders with an advanced and more secure cryptocurrency that is easier to mine and cheaper to make fast transactions. It must be a powerful alternative to Bitcoin and other tokens.
Solution
DigitalNote has developed XDN tokens that allow making absolutely secure and private transactions with incredibly low fees (0.0001 XDN per transaction). The project employs many different systems including an advanced blockchain infrastructure that allows earning on staking and getting many other useful solutions.
DigitalNote features
Since the number of masternode-based coins is quite extensive, it is important to understand what makes DigitalNote different from them. Therefore, let’s have a closer look at its features:
1. Instant transactions
DigitalNote network enables InstantTX that allows transferring coins through the entire network instantly and prevent delays. It takes several seconds to complete a transaction.
2. Resistance to 51% attacks
Being one of the first systems resistant to attacks at such a high degree, this feature was achieved thanks to the implementation of a combined PoS and PoW hybrid system and VRX v3.0 Difficulty Retargeting Algorithm. The last one ensures a balance for both stakers and miners since it checks blocks for proper spacing.
It means the attack can take place only if a criminal has 51% of the system hashrate and 51% of all XDN tokens, but the probability of that is very low.
3. Hybrid distribution method
DigitalNote has managed to combine PoS and PoW methods in one network and double its security. The hybrid system adjusts the time span between generated blocks for either PoW or PoS, while the introduction of Terminal Velocity RateX retarget system allowed to ensure that blocks are generated at a consistently even pace.
4. Masternode network
The masternode feature ensures the system strength since it contributes to its extra security level. Masternodes lock a specific amount of XDN coins to run or operate as well as relay data about them. Furthermore, a user can also lock the specific collateral amount of XDN and get rewards for data processing services done with the help of this masternode.
5. Encrypted messaging
A messaging system developed by DigitalNote is simple and effective by nature. Every message is encrypted and relayed via a peer-to-peer protocol. Only a recipient can decrypt this message using a wallet client and respond to it in a secure manner.
6. “Lightweight” or “Mobile Blockchain”
In order to prevent users from service limitations caused by the fact that blockchain gets heavier every day, the development team provided users with an alternative called a “full” client. This version operates similarly to an access portal that pulls data like a block browser.
7. Low fees
The architecture of DigitalNote blockchain allows developers to provide extremely low fees, which becomes a significant advantage in the modern age of both Ethereum and Bitcoin bandwidth crises.
XDN token
XDN is a native token of the DigitalNote network designed on the basis of the hybrid PoW and PoS ASIC-resistant algorithm. The supply cap of this asset is 10 Billion tokens.
XDN has a number of advantages for crypto holders. The block time takes only 5 seconds on average and a block reward is 300XDN. This token guarantees cross-chain interoperability, lightning-fast transactions, access to the latest DeFi apps and opportunities, support by multiple wallets, etc. All this can be achieved by swapping native XDN to BSC and trading it on Binance Smart Chain with super low fees.
Core team
There is not much information about the development team of the project. The official website mentions only nicknames and short descriptions of people who have contributed to this project. According to this informations, the team consists of 9 crypto enthusiasts with impressive experience in different IT branches and involvement in the crypto community. Furthermore, the system is widely represented in social media, cryptocurrency platforms, and many popular forums, so it is not difficult to track its activity and development.
How does it work
DigitalNote ecosystem is open for everyone. You can join it by registering on the website. It will provide you with an opportunity to participate in network development, bounty programs, mining, masternodes, and staking.
Like any other cryptocurrency, XDN is available for sale and can be traded on popular exchanges. Furthermore, it can be locked in masternode directly in the wallet and bring rewards to the holders.
How to earn XDN
There are several ways to get XDN:
- Staking from QT Wallet.
- Create and host a Masternode manually using VPS
- Running a Masternode with a special service like AllNodes or IhostMN.
- Mining.
- Contributing to the wXDN/BUSD PancakeSwap pool.
- Participating in XDN Bounty program.
- Benefiting from giveaways announced on Twitter.
- Buying XDN on popular exchanges.
Exchanges
Currently, XDN is listed on the following exchanges:
It is also represented in liquidity pools and can be locked in masternodes on AllNodes.
XDN wallets
There are several XDN wallet platforms available at the moment. They can be found on the official website of the ecosystem and downloaded there.
There are both desktop and web QT wallets available for XDN holders. Desktop versions can be downloaded to computers powered by Windows (32-bit), Linux, and Mac. There is also a new XDN Web wallet offered on your desktop, iOs or Android device - it is enough to sign up. Mobile wallet is coming soon too.
Some third-party wallets support XDN too including hardware Ledger Nano S and Freewallet.
Pros&cons
What are the positive and negative features of DigitalNote spotted by crypto experts? let’s find out.
Pros:
- Utmost security of transactions;
- Encrypted messaging;
- Excellent protection from attacks;
- Exclusive hybrid mechanism;
- Support for masternodes and staking;
- Bounty program;
- Wide social media presence.
Cons:
- No clear information about the team;
- Challenges faced in the past;
- No backing.
Is DigitalNote safe?
When you look at the description of this project, you eventually start believing that an ecosystem with such a great level of security can not be potentially risky. However, it is impossible to make conclusions on this basis. The lack of marketing and no clear information about the development team may seem red flags that require more research and reviews of the project. At the same time, a promising roadmap and regular updates, news, and messages in the chat confirm the operability of the ecosystem and the possibility to get benefit from it.
F.A.Q
What is DigitalNote?
This is a hybrid ASIC-resistant blockchain network that offers crypto enthusiasts to make secure and fast transactions with minimum fees as well as receive dividends on staking.
What is common between DigitalNote and XDN?
DigitalNote is the name of the ecosystem while XDN is a native token of this network that contributes to its operability.
What are basic DigitalNote features?
DigitalNote is based on the combination of two popular PoW and PoS algorithms. It is twice more secure and resistant to attacks, offers encrypted messages, a lightweight version for mobile users, and a rewarding masternode and bounty program.
Where can I get XDN?
There are 8 exchanges where you can buy XDN for other cryptocurrencies, but it is possible to get coins for staking, participating in masternode, giveaway, and bounty programs.
Summary
DigitalNote has seen its second revival after the introduction of the innovative hybrid algorithm. It has been provided with multiple extra features that have increased its popularity and demand in the crypto market. Furthermore, this is a constantly evolving project with clear goals and numerous thresholds met, so it is definitely worth the attention of crypto enthusiasts.
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