Article Summary, Automatically Generated By AI
About Decimal
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DEL (Decentralized Cryptocurrency)
: launched on August 1, 2020 -
Key Features
:- Peer-to-peer online currency
- No intermediary needed for transactions
- Reserve currency and native token of the Decimal blockchain
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Validators and Rewards
:- Validators receive a reward for creating blocks
- Reward is distributed among those who bonded their coins to the validator
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DecimalChain
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About Decimal Capital
About DecimalChain, a pioneering blockchain and token constructor, Decimal DecimalChain is built upon a robust foundation. At its core lies DEL, a decentralized cryptocurrency that was launched on August 1, 2020, and serves as the base cryptocurrency of the Decimal blockchain.
DEL is a decentralized, peer-to-peer digital currency, facilitating direct transactions between equal, independent network participants, eliminating the need for intermediaries to validate or facilitate their use.
DEL is the linchpin of the ecosystem and the reserve currency, serving as the native token of the Decimal blockchain. Unlike Bitcoin, it does not necessitate exorbitant electricity costs and expensive equipment to perform complex mathematical tasks. A new batch of DEL is generated on the Decimal network as a reward to specialized participants, known as validators, for creating a new block on the Decimal blockchain. Furthermore, ownership of any coin within the network presents an opportunity to generate profits. To capitalize on this, one needs to stake their coins to a validator.
In return for their efforts, validators are incentivized with a reward, which is subsequently distributed proportionally among those stakeholders who have bonded their coins to support their endeavors.
From the end user’s perspective, DEL is on par with other prominent cryptocurrencies and global payment systems, such as PayPal, Visa, and MasterCard, demonstrating equivalent capabilities and functionality.
DecimalChain was conceived as a user-centric value exchange platform and an intuitive token designer, empowering individuals without technical expertise to create tokens with ease. Focusing on “private and private” internet users and entrepreneurs of diverse backgrounds, DecimalChain simplifies the process of creating a cryptocurrency on its blockchain, requiring merely five clicks. Even an inexperienced user can achieve success from the very first attempt.
Behind the creation of DecimalChain stand the development teams of BitTeam and Crypton. The Decimal blockchain was built upon the Cosmos SDK, a robust and reliable framework that facilitates seamless network interaction between nodes and ensures a reliable consensus among nodes involved in the formation of network blocks. Leveraging the Cosmos SDK, the Decimal-Blockchain boasts compatibility with all blockchains within the Cosmos Network, which currently comprises over 130 projects.
The DecimalChain team perpetually refines and enhances the platform, driven by the collective wisdom of decentralized voting among network validators, and introduces innovative features to propel its growth.
What sets DecimalChain apart? The distinctive advantage of DecimalChain lies in its remarkable simplicity as a constructor, empowering the creation of a diverse range of tokens, including liquid, illiquid, stablecoins, and NFT tokens.
Without requiring technical expertise or the need to download or install supplementary software or programs, any user can effortlessly create a token on the DecimalChain designer. Furthermore, users can leverage any currency within the Decimal network at their disposal to facilitate the translation of their tokens.
Decimal leverages cutting-edge innovations in the blockchain sphere, including:
Tokenization of assets, instant payment systems, loyalty program rewards, cashback services, user identification, ownership rights verification, and document authentication are just a few examples of the vast potential applications of DecimalChain. Additionally, it can facilitate the tracking of goods throughout supply chains, ensure the integrity of algorithms in the gambling industry, automate contract execution, guarantee secure fund transfers and value storage, and provide access to diverse resources. Furthermore, it enables fair and transparent voting systems, lending platforms, and more. By virtue of its innovative nature, DecimalChain establishes a conceptual and technological framework that fosters cooperative models through seamless interaction with multiple blockchain networks and projects.
The Decimal blockchain boasts a thriving community of enthusiasts, comprising users and a diverse array of products developed by the innovative BitTeam.
DEL Benefits Enjoy secure storage on a decentralized wallet, where access to coins is exclusively reserved for the user. Bond your DEL to a validator and “mine” demanded cryptocurrencies without incurring the costs of equipment and server maintenance. Transfers are executed in a swift six seconds, with an average shipping fee of approximately 0.41 DEL. Our focus lies in facilitating easy, fast, and inexpensive transfers, thereby ensuring the stability of the DEL market price and promoting widespread adoption in traditional business. DEL can be utilized as a reserve currency to create new coins, providing custom currencies with all the advantages it possesses. Consequently, all Decimal blockchain coins can be exchanged in a matter of seconds at a fair market price calculated using formulas. The total circulation of DEL is capped at 94 billion coins, although developers have allowed for the possibility of increasing the total emission if network validators vote in favor of this decision.
New coins emerge through a process known as “mining,” wherein transactions are transmitted across the network, aggregated by validators, and consolidated into blocks. These blocks are then secured by intricate cryptographic computations. The Delegated Proof of Stake (DPOS) consensus mechanism enables rapid transaction verification by a select group of network participants – validators. These validators operate within a stringent system of fines and rewards, denominated in the network’s native coins.
At the time of DecimalChain’s launch, the reward for validators per created unit was 50 DEL, with this number incrementing by five DEL every 432,000 blocks. As of March 3, 2021, the block reward had increased to 85 DEL.
Another key feature of the blockchain is the ability to increase the block reward, thereby enabling the attraction of validators at any stage of network development.
The issuance period spans nine years, after which, in the tenth year, the payment of basic block rewards will cease entirely. Thereafter, only the cumulative transaction fees within each block will remain.
Upon network launch, a DEL premine will be generated in the genesis block, totaling 200 million DEL. Concurrently, each of the four inaugural validators will receive an allocation of 40 million DEL, amounting to 160 million DEL. The remaining 40 million DEL will be reserved for sale and subsequently distributed to the project’s investors.
DecimalChain’s network security is reinforced by the robust SHA-256 hashing algorithm, a member of the esteemed SHA-2 family, which is also employed by the pioneering Bitcoin cryptocurrency, its forks, and numerous other digital currencies.
Each masternode (validator) operates under a stringent system of penalties and rewards. Unlike Bitcoin miners, who are incentivized with new coins for expending electricity, masternodes face punitive measures for incorrect operation. For instance, if a validator is unavailable for 12 blocks out of the last 24, it is liable to a 1% fine of its total stake, which encompasses all funds delegated to that particular validator.
Validators who engage in fraudulent activities during the consensus-building process are subject to penalties. In such cases, the validator would incur a 5 percent penalty, deducted from the combined stake delegated to them. As a result, the more funds delegated to the validator, the greater the cost of launching a malicious attack on the network.