We pick one coin every week and dive in!
Ox made headlines recently for being the first ERC-20 token to be listed on Coinbase.
What is DNT, and where can I use it?
Let's begin with some facts about District Ox.
District Ox is a network that serves as a group of decentralized communities and marketplaces, which are known as districts. It is powered by Aragon, Ethereum, and IPFS, joining a growing list of platforms designed to facilitate transactions and more.
It lets you create your own own decentralized marketplaces and communities on the blockchain using Ethereum smart contracts, anyone is able to deploy a district on the network free of charge.
Basically, it's a platform for people to create something like an Uber or an AirBNB.
What are the districts and what are their traits?
Ethlance is a district that was launched in January 2017 and Meme Factory got launched in March 2018.
Ethlance aims to provide listings for those in search of all types of jobs, ranging from steady careers to freelancing opportunities.
This was the first district to be launched and it will operate continuously forever.
On Meme Factory users can immediately post rare digital assets on a marketplace to exchange them.
The marketplace will be in the style of a bulletin board for simplicity and usability.
Who can create a district?
At the moment, only the District Ox Project Team can create districts, but this will change in the future.
Once the developers launch a district creation platform, anyone on the internet can create their own district to be part of the District Ox Network.
District Ox aims to free the internet from intermediaries and censorship, giving internet citizens the ability to build whatever they need.
While waiting for the district creation platform to launch, those interested can vote on which districts they would like to be deployed next. This is being done via community proposals, allowing users to suggest districts as well as vote on the existing suggestions.
What are $DNT tokens?
DNT tokens are used for staking. Participants of a district can get involved in the decision making processes through DNT tokens.
The number of district Ox Network Tokens a participant stakes in a district directly corresponds to his or her voting rights within the district.
These voting rights are used to participate in all decisions of the district. Decisions include code of conduct, branding, fees and so on.
Where can I know more about District Ox?
We are listing official handles of the District Ox team here.
Medium Blog: https://blog.district0x.io/