About Decimal
DecimalChain serves as a blockchain and a token creation tool. The primary digital currency for DecimalChain is DEL, a decentralized cryptocurrency that was introduced on August 1, 2020.
DEL operates as a peer-to-peer digital currency, enabling transactions to occur directly between participants in the network without needing an intermediary.
DEL is central to the ecosystem, acting as both the reserve currency and the native token of the Decimal blockchain. Unlike bitcoin, DEL does not necessitate extensive electricity consumption or costly hardware for performing complex calculations. New DEL tokens are created as rewards for validators who help form blocks on the DecimalChain. Holding any coin within the network allows users to earn profits by bonding their coins to a validator.
Validators receive compensation for their role, and this reward is shared with those who have bonded their coins to them.
For users, DEL matches other cryptocurrencies and global payment platforms like PayPal, Visa, and MasterCard in terms of utility.
DecimalChain was established to be an easy-to-use value exchange tool and a straightforward token creator for users without technical expertise, targeting individual users and entrepreneurs across various levels. Creating your token on the Decimal blockchain can be accomplished with just a few clicks, making it accessible for even those with no prior experience.
Who are the founders of DecimalChain?
DecimalChain was developed by BitTeam and Crypton development teams. It is built on the Cosmos SDK—an effective solution for secure and reliable network communication among nodes and achieving consensus for block formation. Due to the Cosmos SDK's architecture, DecimalChain is interoperable with over 130 projects within the Cosmos Network.
The team behind DecimalChain consistently enhances the system based on decentralized voting by network validators and incorporates new features.
What makes DecimalChain unique?
DecimalChain stands out by offering a user-friendly platform for creating various types of tokens, including liquid, illiquid, stablecoins, and NFTs.
Users can generate tokens through DecimalChain without needing technical knowledge or installation of additional software. Any available currency in the Decimal network can be utilized for token creation.
Decimal employs cutting-edge advancements in the blockchain sector, such as:
- Asset tokenization
- Instantaneous transactions
- Loyalty program points
- Cashback services
- User identification
- Verification of ownership and document authenticity
- Supply chain tracking
- Fair gaming algorithms
- Automated contract execution
- Secure payment assurance and asset protection
- Access to diverse resources
- Equitable voting, lending, etc.
Thanks to its innovative approach, DecimalChain fosters collaboration through integration with numerous blockchain networks and associated projects.
The Decimal blockchain boasts a strong community of enthusiasts, including users and products developed by BitTeam.
DEL Benefits
Users can securely store DEL in decentralized wallets, with access controlled by the user only.
There is an opportunity to bond DEL to a validator and "mine" cryptocurrency without investing in infrastructure or server maintenance.
Transactions are completed in six seconds, with an average fee of approximately 0.41 DEL.
DEL prioritizes quick, cost-effective transfers, ensuring market price stability and broad applicability in traditional business settings.
DEL acts as a reserve currency for creating new coins, endowing custom currencies with its inherent benefits. This setup allows Decimal blockchain coins to be exchanged swiftly at accurate market rates based on predetermined calculations.
How much DEL is in circulation?
DEL's total supply is capped at 94 billion coins. However, developers may increase this cap if network validators approve.
New coins emerge through "mining": transactions traversing the network are collected by validators, grouped into blocks, and protected by complex cryptographic methods. The DPOS consensus mechanism facilitates swift transaction verification by validators operating within a structured system of penalties and incentives.
Upon DecimalChain's launch, validators earned 50 DEL per block created. This reward increases by five DEL after every 432,000 blocks. By March 3, 2021, the block reward reached 85 DEL.
The increasing block reward feature is a strategic element designed to attract validators throughout the network's evolution.
The issuance schedule spans nine years, after which the primary block rewards cease, leaving only transaction fees within each block.
At network initiation, a DEL premine occurred within the genesis block, totaling 200 million DEL. Of this, each of the four initial validators received 40 million DEL, leaving 40 million DEL for sale to project investors.
How is Decimal's network protected?
DecimalChain relies on the SHA-256 algorithm, part of the SHA-2 family, which is used by Bitcoin and many other cryptocurrencies.
Validators, or masternodes, must adhere to strict rules involving penalties and rewards. Whereas Bitcoin miners are compensated for energy use with new coins, validators face penalties for operational errors. For instance, if a validator is unavailable for 12 out of the last 24 blocks, it incurs a penalty of 1% from its total stake, which includes all delegated funds.
Misconduct in consensus procedures results in a 5% penalty from the validator's and its delegates' combined stakes. Subsequently, increased funds delegated to a validator translate to higher attack costs on the network.
