What is district0x (DNT)?

What is district0x (DNT)?

district0x is a platform that enables users to create their own decentralized platforms via a decentralized autonomous organization (DAO) structure. These platforms, known as "districts," can be launched for free on the district0x ecosystem. The d0xINFRA framework powers the ecosystem, providing users with basic smart contracts and libraries, which can be used to build a wide range of use-cases. The native token of the district0x ecosystem is DNT, an ERC-20 utility token used mainly for community governance. The platform uses a combination of Ethereum, Aragon, and InterPlanetary File Transfer Protocol (IPFS) technologies. Ethereum hosts the districts, Aragon serves as the governance layer for the district0x network, and IPFS is used for the district0x website source code and user uploads within districts.

How does district0x (DNT) Work?

district0x was created to address the inefficiencies associated with building and managing distributed community marketplaces. It achieves this goal by offering a diverse collection of smart contracts and front-end libraries that developers can utilize to quickly launch their own districts. Additionally, the platform features a straightforward community governance framework that makes it easy to manage these districts. Unlike other platforms that charge fees for launching new applications, district creation is free, although a refundable deposit must be paid to join the District Registry. This accessible platform has already given rise to a variety of successful districts, each with unique forms and functions. Some of the most popular districts include Ethlance, a decentralized job marketplace, Name Bazaar, a peer-to-peer ENS names marketplace, and Meme Factory, a district that simplifies the creation of rare digital assets.

What makes district0x (DNT) Unique?

The rise of start-ups has led to the disintermediation of many marketplaces, with disruptive services like Uber and Airbnb making significant impacts on the transportation and lodging sectors. Unfortunately, users of these platforms have little control over their operations and cannot participate in the value creation process. This is where District0x comes in, aiming to decentralize and disintermediate marketplaces and communities through its platform powered by Ethereum, Aragon, and IPFS. The platform offers a range of core functionalities for designing, creating, and operating new districts, with each district being unique and customizable. Numerous districts, including Ethlance, Name Bazaar, and Meme Factory, are already running on the platform.

What is the DNT Token?

Regarding the token, the platform's native currency is known as DNT. This cryptocurrency operates on the ERC20 standard and is primarily used for governance purposes. Token holders have the power to vote on various aspects of the platform, including its design, operation, functionality, and branding. Essentially, the token holders have the final say on what is best for the network.

How is the district0x (DNT) Network Secured?

DNT is an ERC-20 token, which means it is secured by the Ethereum blockchain. Currently, the network relies on a proof-of-work (PoW) consensus mechanism to safeguard against any malicious attacks. However, with the transition to Ethereum 2.0, DNT and other tokens on the network will soon be protected by a more energy-efficient proof-of-stake (PoS) network that offers the same level of security.