Any technological revolution while bringing a radical change brings treacherous passes along with it!
With almost a decade to the launch of the technology, while the blockchain market was making waves, experts in the industry have started pointing out that its possible blockchain was overhyped, when, in reality, it does have several limitations and inefficiencies many users face. Although from 2009 – 2018, we made a radical progress in the blockchain field through research and development, the road ahead is still filled with issues and limitations that we need to overcome.
DICE Money is one such technology that has identified several limitations a Blockchain protocol and provided solutions to overcome such shortcomings with brilliant solutions. To start with, DICE is not built on traditional blockchain principles, although it retains the features and benefits of cryptocurrencies. Its revolutionary ‘Cluster Model’ not only allows individuals to mine cryptocurrencies offline but effectively helps in maintaining the network integrity from outside network attacks. Ideally, DICE’s Cluster Model requires each operator on the platform to maintain a separate database, and unlike a single blockchain ledger on a traditional platform, in a DICE economy, there are as many ledgers present as there are number of operators. Thus, it becomes impossible for a hacker to breach such network at any single point in time and is practically tamper proof in nature.
An Alternative to Fiat Currency:
With DICE retaining the features of cryptocurrencies while integrating the features a Fiat currency, it stands apart from both and unlike blockchain, deals on the DICE network happens in similar lines to the deals that work in a real-world work – A secure and confidential virtual handshake verified by a witness.
Offline Mining | Offline Storage | Offline Transactions:
With traditional cryptocurrencies, individuals require to maintain a specialized wallet to store and secure their crypto-holdings digitally. Now such methods are prone to external breaches which may lead to hacking of the digital assets. DICE eliminates such risks as it does not require any specialized wallet but can be stored online in the form of a binary file, hex file or QR code or even offline as a printed physical note or on USB flash drive. DICE Money makes offline storage of cryptocurrencies possible, something which could never be realized on a traditional blockchain. Further, owners of such DICE tokens can use their holdings to purchase goods or services, digital content or even transfer them to friends and family.
Peer-to-Peer Fundraising Platform – The Initial DICE Offering Way:
A primary aim of DICE is to allow ease and simplicity in fund-raising for businesses and start-ups. While traditional ICO methods were trending, it was entirely flawed as launching an ICO campaign required huge capital expenditure and only companies with specialized services were able to float an ICO successfully. Companies dealing in physical products were widely reliant on traditional Angel/VC route of funding. To eliminate this, DICE’s IDO model is an extremely economical option that allows peer-to-peer fundraising through crowd-supported mining model.
Any individual willing to raise funds for business or startup; or a social organization willing to raise funds for a social cause, can simply become an operator on DICE Economy and encourage miners to mine DICE tokens that act the new everyday money. While the miners are required to produce blocks of data to become owners of mined tokens, operators maintain the ownership data of every token being mined on their network. Miners have the freedom to give their mined tokens to the operators as a part of investment in their business while getting an equivalent stake in the operator’s company. For social organizations, miners can donate their tokens for the social cause, benefitting the entire society within their mining operations.
Such peer-to-peer fundraising model allows economical ways of fund-raising while a transparent network records the transactions between users with the operator being a limited trustworthy party, responsible to maintain the ownership data of the users. Fully customizable at every operator level, DICE is truly a revolutionary model that offers true decentralization, reinforced security and speed and scalability and unlike Blockchain, it has the ability to execute transactions as deals that happens the way it works in real-world.
To find out more, visit https://dice.money/
Read the white paper here.
Name: Dilip Chandar
Email: [email protected]