Free Coin of the Day 2/22/18: DX Network Airdrop, How To Enter for Free Coins
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Today's free coin of the day is DX Network (DXT, DX.network). Defined on their website, "The DX Network is the first real-time exchange for structured data about companies, investors, news and more."
Here's a little bit more taken directly from DX Network website:
"By leveraging the latest advances in blockchain technology, the DX Network creates an open market for Tech Industry data to consolidate existing knowledge and seed new data collection efforts—uncovering the vast amounts of data still missing today. It provides the universal data foundation needed to power platforms, research and services for and around the Tech Industry."
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There are currently 6 available actions you can take to earn DX Network tokens, with each paying out 5 for a total of 30 coins if you complete all 6. You can also earn additional tokens by referring others into the airdrop. You will also receive 10 for registering your email. I have not been able to find the value associated with each coin.
The Coin
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I like to evaluate the actual use of the coin and if it's needed, or even useful in some cases, before spending a few minutes of my time entering an airdrop. If a company has no use for a coin, they shouldn't be using one.
There are several "uses" of the coin mentioned on the website. The most likely actual use of the coin is listed under the "utility" heading. "DX Tokens are used to purchase data and pay for network operations like search. The DX Token's utility is proportional to the amount of data on the network." Only time will tell, but I don't see this token being used across the tech industry like the "versatility" section suggests.
Overall, use of the coin within the network for purchasing data and searches does make sense, although I selfishly wish there was a token reward for users. According to the whitepaper it does look like companies will be paid, I would imagine with the DX token, in exchange for the data they provide.
The DX Network gives large size data collectors (e.g. startup-centric platforms, local government initiatives) and medium size data collectors (e.g. startup incubators/accelerators and co-working spaces) a new revenue stream from the data they decide to put on the exchange.
They can do so by either becoming a network node themselves to directly receive the contribution rewards other nodes pay for reading their contributed data or by using an application or service offered by an existing network node. For instance, a technology news site could partner with a business analytics company for them to periodically clean and publish data gathered as part of the news site’s activity onto the network for a percentage of the generated revenue.
Potential
As mentioned in the whitepaper and on the website, data is extremely valuable for startups and businesses in general. The focus on startups is a little concerning just because this market does not have a lot of money to spend on data, and they will often look for free sources rather than pay for it IF available. That being said, bringing data together in one place (if they can do that) and making it available via the blockchain should be very valuable for their users. A lot of their potential will depend on their ability to market this network and convince companies that it's better than current solutions.
Airdrop Requirements
To enter the airdrop, visit the airdrop form via one of these two options (my referral link: https://gleam.io/dLZjX/the-dx-token-airdrop-giveaway, non-referral link: https://dx.network/#get-free-tokens). Then register your email for 10 coins and complete actions for an additional 5 each.
You will need an ERC20 compatible wallet to receive your coins after their sale is over (only provide your public key). See the video below for a walkthrough.
Walkthrough
Links
As with all projects, cryptos, and ICOs, make sure you are using the right links and not visiting spam domains created as a scam. Airdrops and bounties give free coins in exchange for trying out a new platform, signing up for a newsletter, etc. These are different from ICOs where you are paying money (sending cryptocurrency) in exchange for coins that will be sent to your wallet once their sale is complete. For an airdrop, you should ONLY provide your public key and not send any coins to anyone. Here are the links for this project and airdrop:
Homepage: https://dx.network/
Airdrop (referral link): https://gleam.io/dLZjX/the-dx-token-airdrop-giveaway
Airdrop (non-refferal link): https://dx.network/#get-free-tokens
Whitepaper: https://view.attach.io/Bk~R48Dyf
What Is Free Coin of the Day?
Free Coin of the Day (FCOTD) is a new effort I'm launching to help other amateur cryptocurrency enthusiasts like myself get involved in cryptos without having to spend thousands of dollars. Each day we'll pick one coin to cover, and I'll give you specifics on how to earn that coin for free. Please upvote this post and follow me if you're interested in joining this new effort.
Get More Free Coins
This is the 12th #FCOTD post. I released a little early since tomorrow is Valentine's Day and I want to spend time with the family instead of posting all day. Past free coins that you may or may not still be able to grab include:
What is an Airdrop? Watch My Explanation Below
I really like this post michaelluchies! keep it up!