Decimalchain: high hopes or just a new “brand” in the crypto community?
Decimalchain or just Decimal is a blockchain ecosystem for managing own tokens, which loudly announced itself in 2020. The creators call their brainchild the “constructor” of cryptocoins. Indeed, both an ordinary online entrepreneur and a mature business tycoon can issue their own token in the Decimal network. And this does not require any special technical skills at all.Thank you for reading this post, don't forget to subscribe!
The Decimal team assures that its blockchain is securely protected with advanced cryptographic methods of mathematical models of behavior and decision-making.
Transactions on the network are irreversible and remain in its history forever. All official Decimal wallets are decentralized, and only users have full control over their funds.
The seed phrases and private keys are stored by users only. Decimalchain does not have access to them, which means that all responsibility for the safety of funds lies entirely with their owners.
- The opportunity to create your own liquid coin (token).
- The speed of operations on the network is less than 6 seconds.
- Delegated Proof-of-Stake (DPoS) technology guarantees reliability and prompt verification of transactions.
- Easy mutual conversion of coins on the Decimalchain ecosystem.
- A large set of decentralized services: cross-platform wallets, exchange platforms, DEX exchanges.
- Low transaction costs with any coins of the network.
Staking: validators and delegators
Decimalchain is a group of independent participants performing their chosen role.
A validator is a network participant who stores a full copy of the Decimal blockchain on his server. Thus, each computer can see the same network status. The validator puts its own money in equipment and other means of uninterrupted Internet connection.
Due to the work of the masternode, the validator enjoys the privilege of checking and confirming transactions, arranging them into blocks, and from them he forms a chain of blocks – a blockchain. For doing this, the validator receives a reward in the form of new DEL coins (the main token of the Decimalchain project). Simply put, validators are token miners, as new DEL coins appear during the generation of each new block of the blockchain. The reward consists of its base cost per block plus the total commission from all transactions included in this block.
Other users can mine coins together with validators, becoming delegates. To do this, you need to lock or delegate your tokens to the validator’s wallet. To link your stake to a validator`s one means to combine both client balances. This is how the validator’s rating grows, as well as his remuneration, and hence the possible remuneration of the staker himself.
The distribution of remuneration between the delegates is carried out on proportional terms of their equity participation. The process of unbinding (withdrawal) of the delegator’s coins from the validator takes place within 30 days from the date of submission of the relevant application.
Any owner of DEL-coins or any other tokens of the Decimal blockchain can become a delegator. Today there are about twenty of them
Creating Your Own Crypto Coin
Users who issue their own or custom token in the Decimal blockchain network are called coiners. And this can be done in just 3 steps. The characteristics of each coin are determined by the coiner himself, based on the characteristics of his business, product or project in which this token will be used. The logic of the formation of new coins is described in Decimalchain. The greater the demand for a token, the higher its value and vice versa.
Any custom coin is absolutely liquid, since it is provided with mandatory reserve funds in DEL coins, that is, real money. Therefore, network tokens can be exchanged for each other, including for DEL. Of course, any coin can be delegated to the validator and bring profit. All users of the Decimal blockchain can quickly and easily exchange their values without intermediaries and with minimum fees..
A coin client is an end user who has earned, for example, loyalty points in the form of tokens and can now easily exchange them for tokens of another coin, purchase a product or service with them, get a discount or delegate them to a validator for a reward. Custom tokens can always be converted into DEL, which can then be exchanged for any fiat currency through an exchanger or exchange. The list of these services is still small, but it is constantly expanding.
What is DEL?
DEL is the main coin in the Decimal blockchain. According to the ideological inspirers of the project, their coin is not just not inferior to other altcoins, but even surpasses them in many ways in its functionality.
Advantages of DEL
- A decentralized wallet provides secure coin storage.
- The possibility of staking DEL-coins.
- Almost instant transfers to anywhere in the world.
- The average transaction fee is 0.4 DEL.
- The throughput of the coin’s blockchain is tens of thousands of transactions per minute.
The direction towards fast, easy and cheap transfers helps the DEL exchange rate to remain relatively stable, which opens up good opportunities for using this currency in offline business as well. The coin can also be used as a reserve asset of the coin.
Any custom coin gets exactly the same benefits as DEL itself. All Decimal-blockchain coins are subject to exchange for each other at the formed market price.
The generation of DEL tokens is planned for 9 years. The zero block includes the premining of 200 million of these coins for the first validators, coiners and users. The remaining tokens will receive validators as rewards for blocks.
Plans for the current year
To date, the development team is fully engaged in the implementation of a parallel blockchain with the main network – Decimal Smart Chain. The goal is to implement the launch of smart contracts for all coins on Decimalchain.
It is already known that there will be no issue of coins in the new blockchain. All validator rewards and fees in the parallel network will be provided only with DEL coins, which is expected to benefit the project ecosystem. The first decentralized exchange on the basis of Decimal Smart Chain is already being in design in order to ensure the influx of new customers and users.
Moreover, the site will have its own crowdfunding platform! Of course, it is also decentralized. Founders of any projects on Decimal will get the opportunity to attract funding through the initial token offering.