DEXON (DXN) - The Ideal Solution for Hosting Enterprise-Level DApps - Global Coin Report
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DEXON (DXN) – The Ideal Solution for Hosting Enterprise-Level DApps

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DEXON
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With the business landscape becoming more competitive than ever, executives are in an arms race to take their businesses to the next level.  Often, that involves corporate leaders studying the latest and hottest technologies and applying it to their own businesses.  Right now, one of the biggest buzzwords in business is blockchain.  While blockchain has a tremendous amount of potential, it’s not without fault.  DEXON (DXN) is a next-generation distributed ledger technology that attempts to solve the blockchain trilemma: decentralization, security, and scalability.

Background Information

DEXON was launched in 2018 by Popo Chen, the co-founder of 17 Media, and Wei-Ning Huang, a former Senior Engineer at Google Taiwan.  The distributed ledger technology uses cross-cutting, interdisciplinary elements from cryptography, applied mathematics, and computer science theories to improve the well-documented shortcomings of blockchain.

The testnet was released in November 2018 which has since reached 12,000 TPS with fast finality.  Previously, the fastest cryptocurrency was Ripple (XRP) at approximately 1,500 TPS.  The success was extremely impressive, and even more so, now that DEXON’s mainnet launched on April 25, 2019.

DEXON Value Proposition

One of the most important aspects of evaluating new technology is to look at the value added.  Examining the key features and benefits of the technology is a must.  These are a few of the positive features of DEXON:

  • Reliability: High throughput, fast finality, and a high level of network partition tolerance.
  • Fair: Solves miner centralization issues because everyone has an equal chance to propose blocks.
  • Friendly: Provides the most developer-friendly programming languages, such as EVM and SQLVM.

Additionally, there are six key benefits that users should be aware of:

  • Decentralized: VRF-based sortition algorithm is applied to a subset of nodes as block producers.  This allows scalability to thousands of nodes without compromising performance.
  • Fast Finality: Consensus algorithm confirms transactions within 1 second.
  • High Throughput: 10,000+ transactions per second.
  • Low Cost: Efficient algorithm eliminates the need to deal with PoW.  Because of the energy savings, transaction fees will be negligible.
  • Secure: Mathematics have proven the DEXON algorithm to be ultra-secure.  The network cannot be attacked by Byzantine nodes.
  • Unbiased Randomness: For each block in the consensus layer, a completely random seed will be created.

Ideal Solution for Decentralized Applications

Because of DEXON’s ability to improve upon blockchain’s weaknesses, namely decentralization, security, and scalability, this technology serves as the ideal solution for decentralized applications, more popularly known as DApps.

When looking at DEXON’s strengths, it becomes quite apparent which type of applications would benefit from integrating distributed ledger technology into their platforms.  The first that comes to mind is online gaming.  With the U.S. recently approving gambling, there is sure to be a rush of startups hitting the market.  We’ve already seen several Bitcoin-based offshore books, like Nitrogen Sports, flourish.  DEXON’s high throughput and randomness are two of the key features that online books will be looking for.

Another application that would benefit from DEXON’s technology is a digital assets exchange.  With all the hacks that have occurred at exchanges over the past few years, most recently Cryptopia, incorporating technology that is secure, fast, and low cost would seem to be the prudent strategy.  In fact, according to DEXON’s roadmap, a decentralized exchange protocol is slated for release during the 3rd quarter this year.  This will allow anyone to build a decentralized exchange on DEXON.

Conclusion

There is no doubt that blockchain has taken the world by storm.  While the benefits are obvious, the technology still has a long way to go before it goes mainstream.  In the meantime, it’s really encouraging to see promising technology, like DEXON, attempt to make improvements.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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