DigixDAO (DGD) Review, Price, Market Cap and more | Coinopsy

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DigixDAO (DGD) - Grow DGX

DigixDAO allows people to own, divide and transfer actual gold via the blockchain. They do so with their DGX tokens each of which is an equivalent to 1 gram of the shiny metal...
DigixDAO's current price is $12.285 USD. In the past 24 hours, DigixDAO's price has decreased by -1.4 percents..
Name (Ticker)
DigixDAO (DGD)
Price (USD)
$12.2847295094
Rank
181
Active Supply
2.0 million
Total Supply
2.0 million
Volume(24H)
301150
Market cap
24.6 million
Fun Name
Grow DGX
Meta Tags
Website Links
Social Links
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DigixDAO (DGD) Chart

Pros of DigixDAO (DGD)

  • Lots of exchanges
  • Maintaining digital assets

Cons of DigixDAO (DGD)

  • No direct backing (asset, profits, commodity) note : DGD is gold backed

DigixDAO (DGD) Review | Coinopsy

DigixDAO allows people to own, divide and transfer actual gold via the blockchain. They do so with their DGX tokens each of which is an equivalent to 1 gram of the shiny metal.

What this means for the bigger picture is that there is a new system introduced for the management of gold-based assets. A system that is transparent, safe, and open to pretty much everyone with an internet connection. In simpler words, DigixDAO tries to combine the best of two worlds – the stability of smart contracts in operations and the stability of value offered by a precious physical asset.

What DigixDAO brings to the table?

  • A stable, reliable asset
  • Digital security
  • Full ownership visibility
  • Simplicity of transfer

Gold is a reliable asset. Plain and simple. DigixDAO utilizes this factor, as their tokens are 99.99% backed by actual bars of gold from the London Bullion Market. This fact alone makes DGX a stable currency that’s truly magnificent in the role of a reliable hedge in the otherwise volatile crypto market.

The blockchain is safe. What can be said here? For starters, there is the impact of a public blockchain. Or, in simpler words, actual, viable records of any and all transactions that cannot be tampered with. Then there is the PoP or Proof of Provenance protocol that verifies the security of all processes held in the network. Lastly, there is the encryption of the network itself as well as the guaranteed anonymity of senders as well as recipients. All of these digital goodies are now available for trading with what can be called actual, physical gold.

If there is one thing that the more traditional way of gold trading doesn’t provide it is transparency. DGX holders, however, are treated to valid, reliable stats regarding all transaction records, asset ownership, trade volumes, and market volatility. Once again, all of this is only possible thanks to the fact that the system is based on the blockchain, thus it can not be reproduced in any other form. At least not today.

Well, if there is a strong side to holding an equivalent to a gold bar that is composed of bits and bites it is the fact that it can be transferred as easily as an email. Quick, simplified asset management does make up for the additional trading fees of exchanges. At least on paper.

DigixDAO has developed an ecosystem that’s based on not one, but two tokens. One of them – the DGX token – is backed by gold. It serves a unique role in the Ethereum ecosystem simply because it is backed by a physical asset thus mitigating the usual risks of market volatility.

The second token is DGD. It is there to develop a community behind DigixDAO. It is there to support its elder brother through allowing everyone the chance to pledge on proposals, earn points and rewards. DGD encourages users to promote DGX thus creating additional value.

DigixDAO (DGD) Conclusion

DGX seems like a legit solution for investors looking for a safe way of maintaining digital assets rather than gambling them in the trading games. It is certainly a solution the market needs right now as it introduces stability into the world of crypto. But, more importantly, it paves the way for more new projects to demolish the gap between digital and physical assets.

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