Whitepapers DigitalBits XDB White Paper Explained Summary

DigitalBits XDB White Paper Explained Summary

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DigitalBits XDB White Paper

Summary:

-DigitalBits XDB is a blockchain technology that is promoted As a great technological advance and is considered As a solution to many of the technical problems faced by industries.

-Despite growing attention and utilization, mass adoption of cryptocurrencies has not yet happened.

-to cross the chasm from the vision phase to the actual use phase, blockchain technology has to target a pre-existing legacy market that already possesses billions of user accounts globally in a digital asset category.

-the DigitalBits blockchain allows for easy asset-Tokenization using a transaction and trading layer for the point economy.

-the DigitalBits blockchain also introduces the novel Idea of the token name certification service (TNCS) that prevents malicious Network entities from issuing and distributing illegitimate tokens of assets.

-Finally, the XDB token value proposition and the surrounding token economy ecosystem fuels the platform.

Explained – DigitalBits XDB White Paper. Learn in depth about differnet coins on the blockchain by understanding whitepapers.

There is a lot to learn about this futuristic tech, lets get started to dive into the DigitalBits XDB white paper and start to leverage it to build a more secure and trusted ecosystem for Industry 4.0 applications.

We will deep dive into how the coin works by understanding the whitepaper and its summary. DigitalBits (XDB).

Lets understand DigitalBits (XDB) after going through the DigitalBits XDB white paper.

Without wasting any further time lets get started to dive right in and lets understand white paper first.

What is white paper?

A white paper is an informational, influential, well-structured document, usually published by an organization, to provide in-depth information about a specific solution.

A white paper is used to provide a good insight into the challenges for a specific problem and a proposed solution for the same.

DigitalBits XDB White Paper

DigitalBits XDB white paper will be going to provide you, all the information that is needed to get started with DigitalBits (XDB), including the inspiration for creating, the problem it is trying to solve and the solution proposed by DigitalBits (XDB).

Abstract

Blockchain technology is promoted as one of the great technological advances of our time and considered as a solution to many of the technical problems faced by industries in sectors such as finance, automobile, and retail.

Despite growing attention and utilization, mass adoptions of cryptocurrencies has not happened yet. So how do we cross the chasm from the vision phase to the actual use phase?

To do so, blockchain technology has to target a pre-existing legacy market that already posses billions of user accounts globally in a digital asset category; Not to create a competing tokenize digital asset, but instead to transform these legacy digital assets into tokens on a public blockchain with key functionality that benefits both consumers and the enterprise-issuers of these digital assets.

This whitepaper fills the gap in the state of the art by presenting the DigitalBits blockchain powered infrastructure that builds a bridge facilitating the implementation of new technologies to support and enhance our every day life interactions as well as foster blockchain mass adoption.

The DigitalBits blockchain allows for easy asset-tokenization using a transaction and trading layer for the point economy. We present a loyalty- and reward points focused running case, detail the advantages of the system, outline the requirements and goals, as well as the architecture of the DigitalBits network and ecosystem.

In addition, we present the on-boarding process of digital assets and the asset tokenization which is an indispensable functionality of our platform.

Furthermore, we introduce the novel idea of the token name certification service (TNCS) that prevents malicious network entities from issuing and distributing illegitimate tokens of assets that they are not associated with. Finally, we present the XDB token value proposition and the surrounding token economy ecosystem that fuels the platform.”

White Paper Link: DigitalBits XDB White Paper

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