District0x is a platform that provides developers with tools and infrastructure to build decentralized marketplaces which are governed by a Decentralized Autonomous Organization (DAO) structure.
In the District0x ecosystem, each project is referred to as a District, and it can be hosted on the District0x platform. District0x aims to provide a solution to the coordination issues and inefficiency within Decentralized marketplaces. It intends to solve these issues by leveraging Ethereum smart contracts, Aragon DApps, and IPFS to create a complete Decentralized Marketplace ecosystem.
The Ethereum blockchain and IPFS are used for hosting districts and serving the website, respectively, while Aragon has a solution to the problems of trust, governance, and other features that are required for required in order to be functional.
District0x aims to build an ecosystem whereby district hosts can pool resources and use this pool of resources to build next-generation marketplaces with reduced fraud, increased accountability, and improved performance.
Who Are the Founders of District0x (DNT)?
District0x was established in 2017 by co-founders Joe Urgo and Matus Lestan.
The founders that makeup District0x have extensive experience in project building and both consumer and enterprise-level platform development. Joe Urgo is a former professional poker player turned derivatives trader with extensive experience as a cryptocurrency advisor.
Matus Lestan on the other hand is an expert developer and programmer with over 10 years of building mobile and web applications. He is the lead developer at District0x.
What is District0x (DNT) used for?
District0x is primarily designed to enable developers to create decentralized markets and communities. It offers templates for the proper and efficient implementation of projects in distributed marketplaces.
The district0x Network Token (DNT) is used to facilitate open network participation and collaboration. DNT can be staked to earn voting rights in any district on the district0x Network and can be used to signify which districts should be constructed and deployed by the district0x team.
Voting rights are used to reach an agreement on everything from a district’s branding and design decisions to what functionality is added to the district via auxiliary modules, to the appropriate settings for any adjustable parameters of these modules, to how any revenue is collected by a district is to be distributed, and everything in between.
The DNT token is also used to incentivize market participants to work towards a more beneficial ecosystem for all parties involved. This can include anything from contributing or curating content to making suggestions that may improve the product/service of any market on the network as well as increasing network performance.
What Is the Unique Point of District0x (DNT)?
District0x enables simple & quick development of decentralized applications, with no need to learn complex architecture or technology. It also enables users to create complex decentralized applications, with modular and upgradable architecture, and light & fast deployment on the blockchain.
The network itself balances the need for flexibility, with the need for resiliency in the code.
Unlike many other platforms that demand exorbitant fees for developers to build on their platform, District0x provides a free interface for developers to establish districts. The platform now features three active districts: Ethlance, Bazaar, and Meme Factory.
How Many District0x (DNT) Coins Are There in Circulation?
As of January 2021, District0x has a circulating supply of 600 million DNT tokens, representing 60% of its total supply of 1 billion DNT.
How Is the District0x (DNT) Network Secured?
The District0x native currency, DNT is an ERC-20 the Ethereum blockchain. By design, all transactions on the district0x network are fully compliant with the ERC20 standard. Meaning, that the protocol is secure using the proof-of-work (PoW) consensus mechanism.
The District0x Network is secured by Ethereum smart contracts and IPFS. These two entities safeguard District0x’s core value – the creation, deployment, maintenance, and funding of districts.
By using IPFS, District0x enables a decentralized network where every data is stored on an immutable file storage platform that contains the full history of all files it has been uploaded and downloaded to. This will allow for a more secure interface for developers to implement their DApps on the District0x platform without fear of losing control over their data.
How do I buy District0x (DNT) coins?
Buying and selling district0x is handled by a third party, an online exchange where you can buy the DNT cryptocurrencies on. If you want to buy district0x, it’s recommended to buy it on an online exchange that offer high trading volumes for DNT.
These are some of the exchanges that you can buy district0x:
Binance, Upbit, Gate.io, HitBTC, and Hotcoin Global.
Which Cryptocurrency Wallet Supports District0x (DNT)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as District0x (DNT). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their DNT wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.