Simply put, Blockchain is a decentralized and a distributed digital ledger. While talking Blockchain, most discussions do start with the history of Bitcoin and its evolution, but more importantly, the basic use-case of a Blockchain is money. And in almost every case, it continues to be the single important factor that drives the technology.
Coming back to Blockchain, to a layman, it might seem a pretty dull explanation and given it’s only a ledger mainly pertaining primarily to accounting, it doesn’t sound anywhere near revolutionary at all. But well, people, Blockchain does matter and so do these digital ledgers. Fundamentally, these ledgers record more than just accounting. Blockchain is a technology built around a consensus that needs facts. These ledgers underpin the modern digital economy and at any point of time over and above confirming and validating transactions, these digital ledgers confirm ownership, identity, status and most importantly it confirms authority.
Although, while we’re talking the benefits of a Blockchain, no doubt about it that it’s a ground-breaking technology, but every technology comes with its own limitations. For starters, it’s a pretty complex thing to understand blockchain and no place for a beginner. Additionally,
– The transaction costs are high.
– It revolves around privacy issues as while being a masked ledger, it is available publicly.
– Known security flaws with the known cases of hackers hacking the system.
– Notable environmental issues surrounding the consensus models with Bitcoin’s PoW being touted as a protocol with the highest carbon footprint.
Even experts agree to this fact and hence the reasons for a growing shift towards stronger, better and a sustainable technology that solves the key limitations of the traditional blockchain.
Introducing the Revolutionary “Cluster Model”:
DICE Money, a new-generation cryptocurrency, while resolving the issues surrounding the blockchain technology, for the first time introduced a revolutionary “Cluster Model” that holds the potential to eliminate the limitations that blockchain technology faces.
DICE’s “Cluster Model” economy, unlike blockchain, is based on a large number of unconnected operators working individually within a single global ecosystem. Every miner on the network is associated with at least one such operator that supports the cause of the operator while completing the model.
DICE is not a Blockchain but still retains the features and benefits of cryptocurrencies. Unlike a single distributed ledger that prevails in a blockchain technology, in the DICE ecosystem, every operator is responsible to maintain an individual ledger that may be private or public in nature. This essentially means that there are as many ledgers present in the entire DICE ecosystem as there are operators.
Such network brings true decentralization within the economy, making it practically impossible to hack the entire DICE network. Furthermore, what’s never been imagined on the traditional Blockchain platforms, DICE tokens can be mined offline and hence resolving the issues of crypto-jacking popularly prevalent in the traditional mining systems. Similar to offline mining, DICE tokens can also be stored offline in the form of printed notes thus eliminating the requirement of specialized wallets and costs associated with it. The concept of transaction fees is entirely absent in the DICE ecosystem and incentives to both sides come from elsewhere.
Konstantine Dimitrov, Co-Founder, DICE Money said “Eliminating the massive costs incurred on other fundraising platforms such as ICO will prove to be a game changer in the DICE economy. This will benefit both from the perspective of fundraisers and miners that act as investors in the economy by removing the detrimental impact such platforms can cause to several startups.” Adding to the Cluster Model economy, he continued “A truly decentralized network, our ‘Cluster Model’ ensures reinforced security while guaranteeing that no single entity can cause damage or control the entire network at any point in time. Simply, when you can’t control it all, you have no power to do any damage to it.”
Such social ecosystem brings an opportunity to raise funds without incurring massive costs which is one of the biggest advantages of the DICE ecosystem. With such proposed simplicity and a globally decentralized system, DICE is truly a social revolution in finance, while its unique “Cluster Model” economy brings endless benefits to the ecosystem, holding the potential to disrupt the existing blockchain models and its consensus systems.
To find out more, visit https://dice.money/
You can read the white paper at https://dice.money/docs/Dice_Money_Whitepaper.pdf
Name: Dilip Chandar
Email: [email protected]
You have Successfully Subscribed!