DigitalNote coin refers to a decentralized digital money that relies on anonymous CryptoNote technology. It was first launched in May 2014 as DuckNote, to spread information to users about its new anonymous cryptocurrency known as CryptoNote. DuckNote led to network improvements, fair decentralization and GUI wallet that was user friendly.
On September 2014, DuckNote changed its name to DarkNote where it introduced encrypted messaging, GUI wallet transfer aggregation, encrypted transaction comments and network improvements. These new features made DarkNote resemble an internet banking system only that it guaranteed privacy protection and was decentralized. In June 2015, DarkNote rebranded itself to DigitalNote.
When it comes to DigitalNote there is no centralized authority where one person controls it. Instead, it uses peer to peer system and a fair mining process known as ASIC -resistant. The main goal of DigitalNote is to ensure anonymity and privacy of all transactions. This is achieved through a form of technology known as CryptoNote.
One of the main feature of CryptoNote known as the ring signature enable users to sign a payment message without disclosing the payment recipient. DigitalNote ensures encrypted transaction comments that are anonymous, untraceable and unlikeable. Therefore, a user can comment on transactions they have made without been identified by other users. Only the recipient can decrypt your message.
Cryptocurrency involves flow of digital money between parties. However, it may be inconvenient to have bare transfers with no message. There is the need for the payment receiver to get additional information in form of secret messages from the payer. Other cryptocurrencies like Bitcoin have implemented this feature but there is a problem with privacy of communication. DigitalNote guarantees users privacy worldwide by protecting their transactions and ensuring all messages are encrypted. Both transacting parties can share a private key which can be used to encrypt and decrypt messages. In addition, users can aggregate and send payments and mine XDN.
DigitalNote was undergoing initial crowd funding and coin offering, with the idea of buying a certain amount of XDN at prices voted by the community. An early rise in prices led to the reset of tiers from 156 satoshi to 218 satoshi, to 600 satoshi to 800 satoshi. This led to confusion among users regarding the actual price. With 0.6 BTC you can buy 100,000 XDN.
DigitalNote Exchanges
Digital Note currently uses the HitBTC Exchange and Bittrex Exchange. HitBTC has been operating since 2013 and provides a worldwide cryptocurrency trading platform with multi currency support. In addition, HitBTC offers trading of ICOs and tokens, including Euros and US Dollar trading pairs. HitBTC is known for its innovative features such as advanced order matching algorithms and real time clearance. It provides a high security level and has no limits for withdrawal or funding of cryptocurrency.
Bittrex offers a secure and fast trading platform. Bittrex exchange utilizes a two factor authentication for API usage and withdrawals. To ensure transactions are fast, Bittrex offers an automated monitoring platform. Therefore, you will know where your funds are at any given time since the wallet information, trade and balance updates are up to date. Bittrex’s API feature allows users to quickly exchange, trade and withdraw funds.
DigitalNote Wallet
It is recommended that average users to use DigitalNote graphical wallet to deposit and exchange XDN. You can download the wallet to any device that uses Apple, Windows or Linux operating system.
The Verdict
XDN is a cryptocoin blockchain which provides a secure and anonymous transactions. The DigitalNote developers were the first to offer a cryptocurrency blockchain banking interest that comes with interest rates based on a system of proof of work. When you use official wallet, you are able to lock up some of your XDN. Depending on how long you locked your XDN, your annual rate of interest will vary from 0.4% to 1.094%.
DigitalNote also has a future plan to include a mobile app and aliases for users @messages. This sounds really good. It might not be the only cryptocurrency that offers anonymous transactions, but the ability to earn interest makes XDN wallet better than ordinary savings accounts. Compared to other banks, DigitalNote enables you to have your own bank and make sure transactions are conducted in an anonymous way and communications are encrypted. This makes DigitalNote worth checking out.
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