Crypto Escapades Part 4 - What crypto is District0x?
On today's escapade inside crypto we will feature District0x.
The district0x Network is a collective of marketplaces and communities. Which we call districts.
The district0x Network Token is a staking token, used by holders to join districts and participate in their governance making it fully decentralized.
All districts are built upon a standard open-source framework, d0xINFRA.
d0xINFRA is a stack of Ethereum smart contracts and front-end libraries distributed on IPFS which power a district's basic functionalities.
The district0x team intends to continue to introduce new districts to the district0x Network.
The district0x Network makes use of an open proposal process, allowing all community members to submit ideas for new districts via Github.
Upcoming and running districts as promised on their roadmap:
a freelance job market and the first district of the district0x Network.
a peer-to-peer marketplace for the exchange of names registered via the Ethereum Name Service.
Meme Factory will allow users to mint their own tokenized memes and offer them for sale immediately.
District0x's ICO/first contribution started July 18th 2017 and ended August 1st 2017.
ICO distribution: based upon the DistrictOX Genesis Contract minting a possible 1,000,000,000 DNT tokens.
Contribution Period v0.1
During this period a total of 43,169 ETH of contributions were received. 600,000,000 district0x Network Tokens were divided and distributed to the participants within 24 hours.
Contribution Periods v0.2 and v0.3
A total of 180,000,000 district0x Network Tokens have been reserved to ensure the continued efforts of the district0x Network, in the event that additional contributions are needed to fulfill the district0x Network roadmap.
I had contact with them and they told me they likely don't need additional funding and will burn the remaining ones if they reach their goal.
Consensus Method: Proof of Stake.
Alexander Khoriaty is the Project Manager at district0x. After studying physics at the University of Michigan, Alexander worked as a fire investigator before spending 2.5 years at Coinbase working on Quality Assurance and Payment Operations.
Exchanges: Binance, Bittrex, Liqui
Volume: >2.000.000 USD
Market cap: >23.000.000 USD
District0x trades under the symbol DNT in virtual currency exchanges.
5. Customer Support
I contacted Customer Support through email and facebook. They responded within a day through both channels.
There's also the possibility of contacting them through Rocket Chat on their website which they prefer.
6. Social Media
October 11th 2017: Q3 2017 quarterly report.
The report digs deeper into various content such as Partnerships and Financials.
October 24th 2017: Launch of Name Bazaar.
Partnership with Bloom, a decentralized credit reporting project.
Upcoming launch of a curation network . A curation market is a broad concept that will ultimately allow more groups to coordinate globally around shared goal.
This will be the first iteration of a smart contract managed curation market based on the work by ConsenSys. Read more here.
We don't give any trading advise but District0x is one my personal favorites. There is a great potential of District0x's usage. In October about 8% of the tokens were being used to vote. It's fascinating to see how District0x is evolving and they seem to have a strong community and roadmap.
District0x on top of that will hand over the governance to the network token holders after adding additional features. This truly make them fully decentralized, definitely something to look out for.
We will keep you posted and updated on District0x and any cryptocurrency we feature on a regular basis.
Next cryptocurrencies in this weeks rotation:
Previously on Crypto Escapades: