DasCoin: Living in a Distributed World
19th Apr 2018
While many coins are aiming for specific use cases, DasCoin is aiming to provide protocol capabilities using distributed technology and a unique system of minting.
DasCoin works on similar principles to Bitcoin and features a distributed protocol, called a blockchain, for its operation. Like Bitcoin, DasCoin benefits from a large and growing network, but with aspects of control managed by an operations team working together to bring enhanced speed, verification capability and wider usecases to the system.
Unlike Bitcoin, DasCoin issues from a minting process governed by issued licenses that members of the Das community purchase. The earlier purchasers of licences benefit from a larger number of 'Cycles' from which DasCoin is minted. Prices for licenses range from €100 to €25,000. The conversin rate between Cycles and DasCoin changes over time, providing early user incentives.
Upon this framework, network effects are being generated by license holders to drive the purchase and utility of additional licenses in the market, and new services for the use of the DasCoins minted by the licenses are being developed. In addition to trading on external exchanges, (including Hub Culture's Ultra Exchange due to begin in Spring of 2018), it is has been possible for license holders to trade via WebWallet, a digital wallet that requires a hardware device called The Validator to access.
DasPay is a service in development with a major payment processor, Carta Worldwide, to link DasCoin payments to VISA and Mastercard, opening up direct access to merchants and consumer payments via a phone related app for payments. Other developments in the network include co-marketing initatives and links to content and micropayments on the web.
To date over 720 million DasCoin have been minted and sold via the license process, producing a large network of community members and coin holders who form the backbone of the emerging Das ecosystem. With a system that encourages viral use through the marketing of licenses through networks of buyers, and an emerging set of spend and use points for the coin itself, DasCoin could become one of the first widely used crypto assets. The interplay between these utility uses for DasCoin and the inherent value of the Das network will determine the ultimate value of the coins, and their ability to compete in a crowded market of trading assets.
The biggest winners in the newly distributed world will include digital assets that find a core community and a use within that community. By those metrics, DasCoin is poised to join the ranks of the major crypto assets in use around the world today.