Digixdao (DGD) is a new digital cryptocurrency that is backed by with safety and stability of gold- the oldest continuous store value known to people. It is a decentralized platform that is deployed by the DigixGlobal on the blockchain. DGD aims to build the 21st-century gold standard financial platform and work with the community, which in their platform.
Crypto coins in their current form have two significant drawbacks. One of these is volatility- it means that the value could change unpredictably. This leads for users to just can’t reliably transact with a coin that has more short-term price fluctuations than competing traditional options to centralization. The second one is centralization, for instance, if you have a single point of failure such as having an ample storage, where an enormous amount of coins are contained, then criminals will find a way to exploit the weakness, pass through security, and steal the coins.
How do DGD works?
Digixdao video explanation
The DGD is a digital coin that can be traded person to person without any banks or middleman to deal with. It has taken all of the innovative realities behind current digital currencies. The blockchain, transactional privacy, and low-cost transactions fees are just some of the features of DGD. It is backed up with the world’s oldest and longest standing store of value, which is gold. With the digix tokens, you own actual physical gold stored in a vault in Singapore- one of the world’s safest and most private locations in the world.
The users can also redeem their digix tokens for physical gold anytime they want. They can also trade their digix tokens on the Ethereum blockchain for services, stuff, goods, and other digital assets. Since DGD tokens are transacted from person to person, there is no centralized depot for hackers and criminals to exploit.
In such case that if you have a family member that you want to send money, DGD provides a way for you to send a value to them without any bank, institution, or middleman to pay to. This can also be used for online business owners who are selling items online. With DGD, users can accept payment from anyone, anywhere in the world.