DigixDAO (DGD): A Great Progress Is Underway
DigixDAO (DGD) is a platform based on Ethereum that tokenizes assets by permanently storing records through Ethereum and IPFS. It uses a proof of asset protocol to offer real cases for documenting and tokenizing physical assets.
The POA protocol allows it to track assets through a chain of custody for the purpose of achieving a transparent and open record for validation of an asset’s authenticity. It simply tokenizes gold on Ethereum platform.
So far, DigixDAO owns two gold tokens each with unique properties. The tokens provided by Digix are DGX and DGD. These two gold tokens complement each other to ensure a joint success for DigixDAO.
How DigixDAO Works
DigixDAO leverages the distributed ledger technology to have its transparency and immutability through the application of physical assets. The technology works by depending on the user’s involvement that jump-start the network through confirmation of transactions and utilization of a general mechanism of consensus.
The platform achieves a decent verification through developing a program that ensures the existence and ownership of asset on the distributed ledger. The system stores a record of proof in each step and presents it permanently using IPFS and Ethereum.
There are three processes used by Digix to provide proof of ownership for an asset. The processes are used for redemption of assets and development. One of the processes includes the proof of asset verification.
The process records and provides an audit trail of an asset to create an asset card. The asset card consists of information such as documentation of audit, bar serial number, and depository receipt.
How to buy DigixDAO
There are several platforms where you can purchase and trade DGD tokens. One of the most popular platforms is Binance. However, the best wallet to hold your DGD tokens is MyEtherWallet. The first step on how to purchase DGD on Binance is registering and getting an approval as one of their members.
You will then have to fund your Binance account with the same value of coin that you are willing to purchase. After completing the depositing of funds, click on the Exchange link and locate the DGD/ETH pair. The last step is clicking on the buy DigixDAO button to complete the process. Then sit back and wait for your DGD tokens to appear in its wallet.
Since gold is the world’s safest store of value, DigixDAO (DGD) proves to protect your long-term wealth preservation from the inherent price and volatility of real digital assets.
During the crypto selloff, most cryptocurrencies dropped. However, after the poor season, DigixDAO grew more than fifty percent. The growth shocked investors as Bitcoin and Ethereum had a drop of 15% and 20% respectively on the same day. Investing in gold brightens the future of the token since the crypto market cries out for stability.
And that is what DGD is doing. With the token, we will certainly see great benefits from several projects and in return, the token will attract many gold investors into the fiat currency market. Their way to success is slow but for sure a great progress is underway.