About Digix DAO
Digix DAO is the first “Distributed Autonomous Organization” by Ethereum’s blockchain. The project is considered to be a huge success in the crypto world. It was built on Ethereum’s platform and claims to be a revolutionary concept.
The functionality of Digix DAO
Digix DAO is a digital platform that exchanges coins into gold. For this, designers had created two different Ethereum cryptocurrency tokens. These are DGX (Digix Gold Tokens) and DGD (Digix DAO Tokens). Both of them are necessary to perform the algorithm’s tasks successfully.
Using DGX tokens users can buy and store gold. The company which keeps safe user’s gold is based in Singapore. They are accredited and assure the high security of their assets. Digix DAO is a decentralized platform. There is no need for intermediate helping users with the purchasing process. It’s simple and safe.
About Digix DAO Tokens (DGD)
Due to DGD, users benefit from all DGX’s features. At the moment, there are 2.000.000 DGD tokens that circulate around the world. DGD and DGX work together as a team. Using Digix DAO tokens, you can be rewarded with Digix Gold tokens after a specific amount of fees collected.
Why does the platform work with gold?
During the time, gold was a stable variable in the economy. If we put together gold and cryptocurrency, we are able to see the similarities. Both have a limited quantity that can circulate on the global market and can be stored safely using digital algorithm-based platforms.
The issue with gold is the high risk of trading it. There are high fees and a lot of intermediates that can fool you, pretending that they are helping. You can’t just store the gold in your house, you will attract taxes and offenders.
Using these arguments, the Digix DAO’s creators designed their own platform that assures it can keep gold safe with low fees and reduced risks.
The Advantages of Digix DAO platform
– It is a decentralized platform;
– You can divide your amount of digital gold into small ones and trade them;
– Using this platform, anyone can realize payments in digital gold assets;
– It’s a stable platform;
– The platform created two types of Ethereum tokens: Digix Gold tokens and Digix DAO tokens. Together these provide a revolutionary technology;
– The platform assures to keep your digital gold safe for a long time.
The Disadvantage of Digix DAO platform
– You will benefit from the platform’s features only if Digix Gold and Digix DAO tokens work together. The future of DGX has a huge success due to DGD tokens which will reward those who trust the platform;
Conclusion
Digix DAO is a decentralized platform that claims it has a revolutionary technology. The platform is built on Ethereum’s blockchain model. This means both risk and trust. It’s a risk because of the possibility of someone wanting to attack the platform. But, at the same time, you can trust them, due to Ethereum’s Company that has already proven that it’s worthy of your investments and time.
To stay updated, do not hesitate to follow the platform’s official website.
