A REVIEW ON DIGITALBITS DESIGN
The 21st century industries is taking a new turn in resolving the technical challenges associated with it operations. One of the ways of apprehending these technical challenges is the introduction of blockchain technology. The introduction of blockchain and Bitcoin (BTC) in 2009 have significantly improve the manner at which transactions are carried out. This significant transformation have pave way for the fast growth and demand for digital curency as a means of payment and settlement of transactions but this tremendous initiative have not gained general acceptance. This could be as a result of some technical inefficiency of other platforms. It is on this ground that DigitalBits is on an assignment to tackle the challenges of digital currency adoption and usage . this will be attain by creating a simple yet sophisticatedsophisticated platform that is easy to use and allow tokenization of all kind of asset. Digitalbits will be transforming the digital asset of already existing millions of individuals who have access to cryptosystem and the blockchain platform into tokenize economy. To override the existing challenges that have hindered the adoption of digital asset (cryptocurrency), DigitalBits have developed a system that have the technical architectural design that will restore and trust in the system.
DIGITALBITS SYSTEM DESIGN & ARCHITECTURE
DigitalBits have diverse components that work simultaneously in order to maintain a synergy and healthy operations. The major components of the architectural structure of digitalbits are Frontier, DigitalBits Core and the DigitalBits Network.
Haven seen the structure above, let quickly make a brief discussion on each of it components.
• The Frontier
The frontier acts like an interface to applications that wants to access the DigitalBits network. The Frontier expedite actions that relate to submission of transactions to the network and hasten the checking of accounts status and subscribing to event streams. The frontier also help to keep back data and make them readily available for digestion
in a form that is easier to consume. Communication here with APP developers and Frontier RESTful is carried out via web browser, simple command line tools like cURL or DigitalBits SDK
• DigitalBits Core — Network Backbone & Consensus
The DigitalBits core is the backbone of the DigitalBits network. It is a single repetition of Federated Byzantine Agreement (FBA) which intend to establish a DigitalBits consensus protocol ( DCP) in order to arrive at an agreement on the network. DigitalBits help in forming interactions with some selected portion of other instances of cores in order to aprove the validity on the status of every transaction. The DigitalBits core allows members to join any circle orcquorum of their choice if their requirement are met and the benefit of this structure is that transaction can be submitted without having to rely on a third party since DigitalBits core can select its own instance of whom to trust.
• THE DIGITALBITS NETWORK:
DigitalBits network is a set of items that link DigitalBits cores that is run by various individuals and entities acrose the glob. DigitalBits cores on it own infuse reliability to the overall network and it may choose to have a Frontier server for interaction in order to access the DigitalBits network. All these DigitalBits cores within the network make consensus in carrying out specific business negotiations. Each business negotiations on the network costs a small fee: 100 nibbs (0.00001 XDB). This fee stands as a preventing measures to vicious actors who may likely makeb attempt to spam the network. The DigitalBits foundation also maintains archive servers with live backups of the current state in the network in order to facilitate new DigitalBits cores to come in with synergy with the current status of network.
THE TECHNOLOGY STACK
One of the unique features of DigitalBits is it architectural design which is made up of the following components;
• Application Sever
• Bridge server
• Federation server
• Compliance server
The Bridge Server is the component that is design to enable applications to carry out transactions
easily on the DigitalBits network. It also aid application to utilize the federation and compliance component to send and receive payment. The bridge server also helps in initiating and monitoring transactions in the DigitalBits network. The Federation server on it own help mapping services and in improving the consumer's experience and ease adoption of DigitalBits in the e-commerce transactions.
Conclusively, the combination of this structural design and architectural frame will help DigitalBits in creating a functional decentralize economy that is characterized by efficiency, security and improved customer experience in DigitalBits network.
Website : https://www.digitalbits.io/
Whitepaper : https://storage.googleapis.com/westart-files/digitalbits-pre-sale/DigitalBits_Whitepaper_2_2.pdf
Facebook : https://www.facebook.com/DigitalBitsOrg/
Twitter : https://twitter.com/DigitalBitsOrg?lang=en
Telegram : http://t.me/digitalbits
ANN Thread : https://bitcointalk.org/index.php?topic=5026550
westart: https://www.westart.co/project/digitalbits-presale
Writer: cryptoboss255