At the time of writing, the total value of all digital coins is 1.53 trillion US dollars, with the all-time high value crossing 2 trillion dollars in May 2021. Different opinions on cryptocurrencies vary from the optimistic ‘it will replace everything’ sentiments to ‘it is nothing but a Ponzi scheme’ skeptics.
In February 2021, the price of Bitcoin increased by 66% (Source: Tech Crunch). The worth of the digital asset was only $30,000 in January 2021. It is even more astounding that it was only worth only $10,000 twelve months before that. That amounts to about a 400% increase in value by the first quarter of 2021!
Demerits of most Digital Coins
Even the most ardent cryptocurrencies supporters admit that these digital coins have some deficiencies. Some of the most popular arguments against them are –
The value of most digital coins comes as a shock in response to demand. On a popular cryptocurrency exchange site on June 2nd, 2011, one Bitcoin (and Dogecoin) was worth $9.9. It was valued at less than $1 only six months prior. This price volatility means that vendors that accept crypto have to contend with frequent price changes.
Because most digital tokens have a limited total supply, it eventually results in deflation. As the overall number of most digital coins reachesitsr limit, each digital coin will become increasingly more valuable. Early adopters will be rewarded under this scheme. Because the value of each coin rises with each passing day, the choice of when to spend becomes vital.
Outdated with no smart contracts
With the introduction of the BSC network, smart contracts have become a standard tool and a more secure notion than other cryptocurrencies. Most digital coins were designed to be peer-to-peer networks. However, with over 10,000 nodes, adding any transaction takes a long time to be replicated in all nodes. DXB aims to generate different revenue streams and incentives through the use of smart contracts.
Merits of DXB: Why you need to be a part of DXB’s next-gen revolution
|A) Transaction Verification Time – Transaction verification takes a short time, making it suited for all types of merchants.||B) Insurance – If someone obtains your private keys and takes your digital coin, there is no way to recover your assets. In the banking system, if you can establish your innocence, you can theoretically recover your assets. Furthermore, most digital coins can be monitored indefinitely. This is not the case with DXB, to be sure!|
|C) Best suited for microtransaction – The idea is to provide a secure tool for online merchants as well as a quick and easy technique to complete and validate transactions faster on the blockchain.||D) POW / POS –Because it is on the BSC Network, it operates on Proof-of-Stake, which has resulted in lower gas fees and faster transaction verification time.|
|E) Intelligent smart contracts – Self-executing contracts with programmable agreement between parties, providing robustness.||F) REAL-WORLD USE CASE –Because of the BSC Network, it operates on Proof-of-Stake, which has resulted in lower gas cost and faster transaction verification time. Hence, it can be used for everyday transactions.|
The token airdrop and pre-sale events will ensure that no one holds more than 1% of the total supply in their wallet.
There will never be more than 500 trillion tokens in circulation, after which DXB will burn off the original liquidity in a series of programmed burn events.