What is District0x? District0x is a blockchain project that allows users to create decentralized marketplaces. In this article, you can find answers to frequently asked questions such as what District0x is, what it offers, what is DNT coin, how to get it, what is it used for. As Kriptokoin.com, we searched for our curious readers.
What is District0x?
District0x network is an open source project built on the Ethereum Blockchain where users can create decentralized marketplaces. The web3 themed project aims to build a platform of marketplaces, free from the central economies of web2 apps like Airbnb. Marketplaces on the platform are called ‘regions’. The network has a native cryptocurrency called DNT coin.
Ethereum based network works with 3 core technologies. These are: Ethereum, on which the network is built, IPFS for storing and sending data in a decentralized way, and Aragon, the synchronization software. There are currently 4 market places in the project. As stated in the roadmap, the team behind the project aims to increase the number of marketplaces. Each participant of the platform can create their own marketplace. The project’s website also offers users training on this subject.
The oldest and most popular of the existing market places; Ethlance is Name Bazaar and Meme Factory. Through Name Bazaar, domain names can be traded for websites. In Meme Factory, users can create and sell ‘memes’ known as internet jokes. Ethlance, on the other hand, operates as a job market, where freelancers and full-time job postings can be found. The platform uses Soladity smart contracts for these regions. These smart contracts are linked to the Ethereum Blockchain.
What is DNT coin? What is it used for?
DNT coin is a token that works as the native cryptocurrency of the District0x network. The token was created with the ERC-20 smart contract on the Ethereum blockchain. At the time of writing, 600 million of the tokens were in circulation, with a total supply of 1 billion. DNT was the 565th largest cryptocurrency with a market cap of $50.7 million.
DNT coin has various use cases within the network. Users can use DNT coin to select regions on the platform. Malicious sites are also rejected with DNT. In addition, products and services in 4 regions on the network are purchased with DNT. Besides, DNT acts as a governance token. The platform works as a Decentralized Autonomous Organization (DAO). DNT holders can vote in the decision-making processes that determine the future of the platform.
How to get DNT coins?
District0x network native cryptocurrency DNT coin is listed by many major and trusted exchanges. These exchanges include Binance, Coinbase, Bittrex, and Gate.io. Interested investors can purchase DNT by signing up for one of these exchanges and depositing money.
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