What Is DigitalNote (XDN)?

DigitalNote is a hybrid blockchain solutions platform that aims to facilitate instant transactions with high-end security. DigitalNote seeks to provide an InstantTX tool to its users, which allows them to send and receive crypto assets and messages on the network in real time. The platform also aims to provide its users speedy access to the decentralized finance (DeFi) space via DApps and other opportunities. 

The DigitalNote blockchain is built on the Binance Smart Chain (BSC) network, offering a claimed block transaction time of 5 seconds. As per the whitepaper, the platform is designed to resist crypto hacker attacks, like the 51% attacks that frequently affect crypto assets. A 51% attack is a cyberattack carried out by a group of miners who control more than 50% of network mining, allowing them to reserve transactions and prevent confirmation of new ones. 

A 51% attack raises problems like double-spend and payment stoppages. DigitalNote uses a combination of proof-of-stake (PoS) and proof-of-work (PoW) consensus mechanisms, with the aim to eliminate the risk of a 51% attack. Additionally, the platform uses a tool called Terminal Velocity RateX, which seeks to ensure a balance of advantage between the PoS stakeholders and PoW miners. 

XDN is the native cryptocurrency of the DigitalNote blockchain. The blockchain uses the hybrid consensus mechanism to create the token, offering 300 XDN to the miners as a block reward. 

History of DigitalNote (XDN)

DigitalNote was founded by a team of anonymous developers. The core development team includes six pseudonymous individuals – AuCRHI, IamLupo, Rubber Duckie, Grunsen, XEN, and KingDaive. The XDN token had a maximum total supply of 10,000,000,000 coins, out of which 3,070,000,018 tokens were burned. Token burning refers to sending a certain number of tokens to an inaccessible wallet to permanently remove them from circulation. The maximum supply of XDN stands at 6,929,999,982 tokens.