Review on DigitalNote by Stephen Toluwani
DigitalNote Review
With a simple use case of providing encrypted and secure messaging service coupled with instant transactions for P2P, DigitalNote has been a wonderful project. With decentralization being the aim of this project, there was no Pre-mining for it's native coin XDN or an Initial Coin Offering ICO, to even make it's decentralization complete, it's project developers left the continuation and development of the project in the hands of its vibrant Community. The DigitalNote project has its wallet app issued for computers only such as Windows Mac and Linux systems. For other users, they provide a Web wallet and the users are in charge of their private keys. It's Blockchain is secured by a Hybrid Proof of Work and Proof of Stake consensus mechanism to prevent an incident of a 51% attack. It's messaging feature is issued by encrypting the messages and are sent instantaneously using it's InstantTX feature which allows users send and receive messages and XDN I'm a matter of seconds
It's native coin XDN is mineable through the Proof of Work and Proof of Stake mining model and the use of a VRX Difficulty Retargetting Algorithm, the mining rewards are equally shared by its PoW miners and PoS stakers. The blockchain uses the CryptoNight Algorithm that acts aa barrier to ASIC miners. This CryptoNight Algorithm is also used to ensure anonymity in sending messages and XDN through ring signatures and Stealth addresses. The project's roadmap is still being actively followed and being an open source code project, developers are always welcome to contribute their quota to the the development of the DigitalNote
Pros
- This project is basically a project focused on sending encrypted messages and transacting P2P
- Versatile wallet supports for Windows, Mac and Linux. There is also a Web wallet for everyone to access
- InstantTX feature from which users can send and receive XDN and messages in a matter of seconds
- Use of a VRX Difficulty Retargetting Algorithm which balances the rewards shared by PoW miners and PoS stakers
- It's Blockchain uses a Hybrid Proof of Work and Proof of Stake consensus mechanism which prevents a 51% attack
- A truly decentralized project with no Premined or ICO for the coin
- Open source project so it's code is being worked upon by it's Community
- Uses the CryptoNight Algorithm which ensures Anonymity through ring signatures and Stealth Address. This algorithm also creates a barrier to ASIC miners giving a fair mining ground to everyone
- The XDN coin is traded on many exchanges such as Bittrex, HitBTC and many others
Cons
- I have seen no negative side of this project so far
