While people are staying at their homes due to COVID-19 outbreak, they are thinking of conducting business digitally from their homes. The markets are all closed, but the needs of the people are still there. The demand and the gap in the traditional market due to COVID-19 lockdown in giving rise to digitalization. Many people who used to discourage online buying are seriously considering it. People are increasingly looking into online payment options and this is where people will realize the importance of cryptocurrencies.

The emerging trend…

The popularity of cryptocurrency has grown exponentially over the past few years. People have realized how much they have to pay the banks for their daily transactions and how they are restricted by the centralized system. We are always looking for a good change and the decentralized world is precisely what is bringing about an exciting change.

The Decentralized World…

People are tired of the flaws in the centralized world. It has made manipulation easy and obscured all transparency. A decentralized world is one where there is absolute transparency and everything is done without any delays. This is precisely what makes cryptocurrencies exciting. As they are decentralized, there is no involvement of banks. Furthermore, they are electric and anonymous. They truly have the potential to change the world.

What’s interesting is that the change cryptocurrencies will bring about will also extend beyond the financial sector. Cryptocurrency has many uses, some of them may even surprise you. Here are 5 ways of how people will utilize cryptocurrency in a decentralized world.

Here are 5 ways of how people will utilize cryptocurrency in a DDK Technology – decentralized world.

Staking Economy

DDK is a community-based platform that creates economic opportunities through the careful utilization of blockchain solutions. On DDK platform people earn by staking coins and voting for delegates. The best thing about this project is that it involves staking rewards to compensate stakeholders instead of focusing on miners/delegates. This is really unique for blockchain-powered crypto projects.

What makes it more interesting is the percentage of the staking rewards. The initial staking rewards begin at 10% for the first 12 months. So far so good, but then after every 6 months, the percentage declines gradually by 2%. This goes on until the stalking rewards reach 2% and after that, it doesn’t decline any further and stays constant. This entire process is dependent on the voting of delegates. Stakeholders can vote for delegates who then in return give them a percentage of their earnings.

Each time on voting, a stakeholder can select minimum 1 and maximum of 3 delegates with the same fee and 0.01% will be deducted from the amount staked from the stakeholder, as fee. Stakeholders will get the DDKoin as reward on every 4times of voting until complete 24voting. For more info, you may refer to

https://ddkoin.com/documentation/DDK_Whitepaper_V1.2.pdf

DDK Delegates

Based on the outcome of the voting process, a stakeholder can become a delegate. A delegate is a democratically-elected stakeholder who is given the trusted position to process and manage transactions on the DDK platform. In return for processing transactions, the delegate will be rewarded DDKoin(s) because of their participation, as delegate, provides the operation and record of transactions. Delegates digitally sign the transactions on the network. They, (like default stakeholders) also provide security to the network by operating as trusted delegates to process transactions. You may click the link:  https://ddkexplorer.ddkoin.com/delegates

Blockchain Voting System

Voting on the blockchain is very secure. There are no discrepancies as the entire system is based on transparency and every vote can be tracked back to the voter. The changes made are also visible to everyone. Voting and elections were never better without blockchain technology.

Since the DDK platform uses Delegated Proof of Stake (DPoS) as the consensus system of the blockchain, the process become even more transparent and beneficial. The delegates become the nodes that have the ability to generate blocks and they can only be selected by rigorous voting between the stakeholders.

In DDK platform, the delegates’ ranks depend on the VOTE COUNT. Here voting is done on blockchain and everything is very transparent. VOTE COUNT is determined as only one vote per account. A stakeholder can vote for a delegate using a vote transaction. However, when vote count is the same among other delegates, the vote weight will eventually put into rank. If you are interested in voting you can use this link of DDK Mainnet: https://mainnet12.ddkoin.com

Another benefit of voting on the blockchain is that the stakeholders may unvote delegates with fees imposed. Consensus is a required aspect of any blockchain system. It serves a vital purpose for the system where there are many nodes and all nodes must agree on the integrity of the data. All nodes participating must agree on what transactional data is legitimate in order to move the blockchain forward.

DDK Bounty programs

The bounty programs are carried out before the actual launch. They are usually done to get the buzz going and to give the cryptocurrency project an improved presence on social media platforms. It is all about creating awareness for the cryptocurrency launch and to get the word-of-mouth going. The framework is such that informal advertising channels are utilized to increase market penetration. The aim of such bounties is that as participants go about carrying out the various activities, the people in their circle begin to know more about the cryptocurrency. DDK Platform is providing a phase by phase “distribution” of bounty on Bounty Program from the allocation on-hand. These bounty programs could be promoted and posted in our own DDK Forum Discussion https://forums.ddkoin.com/forum/bounty-contest . We give this further opportunity towards the existing community, who are active in social media. We offer huge allocation of bounty rewards for this. We take this opportunity to promote using social media by offering good and interactive bounty program.

Education

DDK Foundation has collaborated with Innovative International College for the promotion of blockchain development throughout the world. IIC will offer a Diploma in Blockchain & Advance Diploma in Blockchain in the future. Kindly visit https://innovative.edu.my/ for more info.

The Mutant Blockchain Academy (MBA) is another educational initiative under DDK Foundation that gives online education about blockchain and fintech technology. You can gain more information about it from MBA Facebook page. Here is the link for your convenience: https://www.facebook.com/MutantBlockchainAcademy/

Do remember to like, follow and share it among your friends so everyone can benefit from it.

These were the five uses of cryptocurrencies in a decentralized world. As cryptocurrency gains popularity it will revolutionize the world as we know it. If you have invested in cryptocurrencies, you are already ahead of the curve. If not, you can always start today.

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