DigitalNote (XDN)

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DigitalNote was originally launched under the name “duckNote” on May 30, 2014. Its aim was to introduce a coin with new and unique features based on the anonymous CryptoNote technology.

Joke Name

DigitalNote = Anonymous Coin

Basic Intro

Link to the main website

Link to price/market cap

Exchange Ticker (XDN)

Coin or Token

Circulating Supply (6.9 Billion)

Total Supply (8.5 Billion)

Market Cap Ranking

Review

DigitalNote was originally launched under the name “duckNote” on May 30, 2014. Its aim was to introduce a coin with new and unique features based on the anonymous CryptoNote technology to the cryptocurrency community. A model with a libertarian economy, an original supply curve, fair decentralization with CPU-efficient, ASIC resistant mining process, the protocol utilizes optimally scaled network specifications, user friendly cross platform GUI wallet and numerous network improvements.

Key Features:

  • Specifications
  • Technical data

Specifications

DigitalNote offers fast transactions and encrypted information transfers in decentralized p2p network, it also has its own private messaging system, an instant secure, untraceable and unlinkable way of encrypted communication – crypto messages. DigitalNote offers an advanced blockchain infrastructure, which gives the ability of coin holders to stake their holdings for a determined period of time. The network is also ASIC-resistant, relying on an efficient CPU PoW/PoS hybrid system, it is also resistant to any kind of blockchain analysis, meaning that all messages and XDN transactions are completely anonymous.

Technical Data:

DigitalNote’s blockchain infrastructure has block target time of 2 minutes, making it nearly 5 times faster than Bitcoin. It utilizes the CryptoNight7 Proof-of-Work algorithm, providing efficient CPU-mining. Transaction costs are set at 0.001XDN making it perfectly adjusted for micro-transactions and users get rewarded for their staked coins proportionally to the time they spent locked. DigitalNote also has constant mining reward amounting to 150XDN, making profitability predictable for participants in the mining network.

Problems:

At first sight, pretty much everything about DigitalNote checks out, until you find out that the earlier forks of the coin had significant pre-mine and that coins were issued at a very fast rate. There’s also no information about anyone on the team whatsoever, no real IDs, absolute lack of marketing or implementation, absolutely nothing.

Conclusion:

DigitalNotes is a shady project. It seemingly looks good and has a surprisingly low market cap, but once you scratch the surface, many shady details pop up. The technology behind it is nothing new or revolutionary and many competitors offer better packages. Mistakes can be forgiven and the team behind the project might swim up to the surface one day and salvage their mistakes. Despite all the red flags there still seems to be a decent community supporting DigitalNote, and some development activity is present despite all the past, questionable acts. Their social media has been inactive for more than a year. Not much is to be expected from this project.

Pros

  • Some good features and ideas

Cons

  • No direct backing (asset, profits, commodity)
  • Limited exchanges
  • Shady past
  • Lacking social