DasCoin has been designed to solve the core problems inherent to storing and exchanging value.
April 10, 2018 8:24 am,
The assurance that anyone who is distributed DasCoins directly from the DasCoin Blockchain has presented the system with a defined and recognized form of value (specifically in “Cycles”, a closed-loop, single purpose currency that can only be acquired through the purchase of a system license using either Bitcoin or Euros). There are no parties (neither executives nor developers) who are able to pre-mint, pre-mine or pre-distribute DasCoins to themselves. Cycles can only be received in exchange for value transferred to the system, and Cycles must be submitted to the system in order for there to be a direct distribution of DasCoins through the minting process.
DasCoin incorporates a licensing system rather than a mining apparatus. Consensus is reached through an algorithm which randomly defines what licensed node is going to make the next block.
2 to the 33rd power, about 8.5 billion units (distributed over an undefined period – dependent on the internal dynamics of the system – currently projected to last 12 years).
Every user will be authenticated through banking-standard KYC processes performed by a central authority.
DasCoins are minted into circulation through a conversion from Cycles. Once minted, they can be transferred directly or converted into a variety of fiat currencies and Bitcoin. Existing DasCoins will eventually be trading on a variety of exchanges and at that point it will be possible to convert fiat currencies directly into DasCoins.
Supporting the value of the digital asset system is a global network of hardware and software systems, as well as associated products and services that are offered within this system, (including trading exchange functions and payment solutions). This network of systems interconnect many jurisdictions of the world and feature redundancies designed to assure smooth ongoing operations.
With DasCoin, centralized and decentralized approaches have been combined to solve problems and maximize user benefits. • Centralized emissions of coins.
- Decentralized distribution of coins.
- Permissioned blockchain with independent verification.
- Centrally-authenticated userbase through banking-standard KYC process to support trust among participants.
- Distributed, decentralized ecosystem.
- Decentralized digital wallet system: Once issued, a coin can only be controlled through the private key of the digital wallet of the authenticated party who owns the coin. No other person, company or authority can transfer, confiscate or seize that coin.
- Privacy with transparency (and without anonymity) in the way transactions are made and recorded.
- Full compliance with regulation: Compliance with major jurisdictions and the development of industry standards.
- Instant transactions with a validation speed set at 6 seconds.
• Decentralized inflation allocation (via the minting queue and “proof of value” distribution method).