“Crypto made straightforward.” That’s certainly a catchy tag line that sums up Divi’s imaginative and prescient of creating cryptocurrencies mass-accessible, straightforward to make use of, and environment friendly on a worldwide scale.
True, it’s a imaginative and prescient chased after by many because the early days of crypto and first-generation blockchains. Nonetheless, with its strong technological infrastructure and fast-maturing decentralized ecosystem, Divi is now rising as a frontrunner in that pursuit.
On this overview as we speak, we’re going to assess all of the elements including gas to the excitement surrounding Divi. We are going to try to achieve some insights into the core concepts powering the ecosystem. Whereas at that, we will even take a look at the issues Divi goals to resolve and the way the broader Divi ecosystem works in unison in the direction of democratizing finance for folks all over the place.
Let’s begin with an summary of Divi – the platform and the imaginative and prescient behind it.
Divi: An Overview
Divi is a huge blockchain ecosystem with an modern set of companies tucked right into a “Good Wallet“. Divi’s most important agenda is to roll out a self-sustained, totally decentralized personal fee resolution that makes cryptocurrencies accessible and usable to the lots.
The Imaginative and prescient
The staff behind Divi shares the identical imaginative and prescient that Satoshi Nakamoto had when the latter created Bitcoin. Just like the elusive mastermind, the Divi staff additionally has made it a mission to eliminate the centralized banking system’s follies and use expertise to increase monetary inclusion to everybody no matter their socioeconomic standing.
With that mission, the Divi venture, initially known as Divx, formally launched in Q2 2017. The venture rolled out the DIVX preliminary coin providing (ICO) in Aug 2017 at $0.57 per coin and continued it by way of to the tip of Nov. DIVX was an ERC-20 token that served its objective when the staff was getting ready the launch of the Divi blockchain.
In Sept 2018, the staff launched its personal Divi blockchain and minted the primary Divi coin. The DIVX-to-Divi transition occurred fairly easily on the fee of 1 DIVX = 100 Divi.
Divi is led by Geoff McCabe, co-founder and CEO, with a powerful team comprising younger blood and expertise behind him. Geoff is a serial entrepreneur with over 30 years of expertise in constructing many profitable ventures throughout numerous industries together with three multi-million greenback companies to success earlier than co-founding Divi.
Michael Greenwood, co-founder and CTO, oversees the technological facet of Divi.
Michael began his profession at Microsoft as a senior developer when he was 19. Later, he made vital contributions to tasks like Origami, SQL Server, Xbox, Home windows 7, Home windows 8, and Home windows 10.
The staff additionally contains 4 advisers:
- Tim Sanders, former Yahoo Chief Options Officer.
- Ramez Naam, technologist and science fiction author.
- Toni Lane Casserly, former CEO at CoinTelegraph.
- Doug Scott, former President of Ogilvy Leisure.
Divi: The Core Targets
Conceptually and technologically, crypto and blockchain have all the facility to redefine, or at the least, reshape the way forward for finance. Nonetheless, this could solely occur when there’s mass adoption.
Many additionally be a part of the ecosystem purely to faucet in on the volatility of the crypto market and make hefty earnings. And that’s completely advantageous. Nonetheless, to set off mass adoption and dwell as much as the unique ethos it was created with, crypto has to supply on a regular basis usability the place you need to use your crypto stash to pay for on a regular basis bills — identical to you do with money or a bank card.
And that is exactly the place Divi could make a massive influence.
Divi identifies usability and accessibility as the most important ache factors to have slowed down the mass adoption of cryptocurrencies. It desires to resolve these points by introducing crypto to the typical Joe.
With that goal in thoughts, Divi included fiat and several other fashionable cryptocurrencies into a brand new system. This new system empowers customers to simply arrange a checking account and a debit card. They’ll then use these monetary instruments to pay for on a regular basis bills anytime, from anyplace.
After all, this could require a a lot better fiat/crypto integration than what was out there available in the market on the time. And that’s the place Ridivi and its huge potential kicked in.
Divi has a devoted fintech unit known as Ridivi, which was created after the corporate acquired a controlling share of a Costa Rican fintech agency. which was then rebranded as Ridivi for integration into the broader Divi ecosystem. This acquisition additionally gave Ridivi a head-start with greater than 10,000 clients from the newly acquired agency’s remittance enterprise.
It was a fantastic addition to the Divi ecosystem as Ridivi makes fiat-crypto integration quite a bit simpler to the purpose you could convert fiat to crypto and crypto to fiat in real-time with out counting on a 3rd occasion.
Maybe the most important perk Ridivi has in retailer for customers is the power to make IBAN transactions from their Divi wallets.
Ridivi now plans on outcompeting remittance firms and banks that typically cost as excessive as 10% – 20% for transferring cash. In distinction, Ridivi plans on providing the identical companies at “near zero charges.”
In a nutshell, the addition of Ridivi brings the broader ecosystem the next advantages:
- One-click fiat account setup.
- Debit playing cards for customers.
- Worldwide checking account numbers for crypto customers.
- Worldwide wire transfers (fiat).
- One-click fiat account setup.
- One-click change between crypto and fiat.
Divi: Underneath the Hood
On the expertise entrance, Divi deploys a “tiered masternode system.” This can be a distinctive system consisting of 5 tiers that may be simply arrange with a single click on. And that makes it fairly a helpful function contemplating it permits the typical customers with little to no technical experience to take part in a cryptocurrency community and run full nodes.
This tiered system permits customers to select from the 5 ranges of participation relying on how concerned they need to be within the community.
Every of those tiers corresponds to a progressively increased variety of blocked Divi cash. Due to this fact, the upper a tier is, the upper the rewards earned by the corresponding masternode.
Divi believes that this ease of proudly owning a masternode is a giant leap ahead to make crypto safer, mass accessible, and user-friendly for everybody.
Proof of Stake (PoS) Consensus and Staking
The Divi blockchain relies on the Proof of Stake consensus mechanism which is drastically completely different from the Proof of Work (PoW) mechanism that powers the Bitcoin community. This implies, not like Bitcoin mining which requires an unlimited quantity of computing energy, Divi depends on an idea known as “Coin Age” to safe the community.
The Coin Age is decided by multiplying the variety of Divi cash in a pockets by the “age” of these cash. Right here, the age of a coin is the time because the final transaction involving that coin.
In the meantime, Divi additionally has a brand new lottery block expertise that contributes to the general security of the community. The Lottery Blocks is a novel function that permits 11 fortunate masternode homeowners a shot at profitable as much as $50,000 value of Divi coin every week.
All customers taking part in staking and proudly owning greater than 10,000 Divi cash are eligible to be picked for the lottery reward system. Amongst different issues, this additionally incentivizes masternode possession and staking, thereby driving adoption.
Divi Good Pockets
The Divi ecosystem contains the Good Pockets, which is a big enchancment on the run-of-the-mill crypto wallets. It focuses on delivering a clean user-experience for anyone together with those that have by no means used a crypto pockets earlier than. The Good Pockets, as soon as deployed, will come loaded with distinctive saving options to enrich the multi-layered masternode system on the blockchain.
The pockets will connect profile info to every transaction on the blockchain, which is able to allow customers to ship cash to verified profiles with personalised traits. This can be a drastic enchancment from the nameless pockets addresses that Bitcoin and different cryptos use.
It’s clear by now that Divi is certainly an unlimited and bold venture with a multi-layered ecosystem. Its deal with expediting crypto’s mass adoption relies on a mix of stable expertise and good finance.
It has nice potential to realize a powerful foothold in third-world international locations the place “smartphone banking” is commonly thought-about probably the most viable solution to lengthen any significant monetary inclusivity to the unbanked inhabitants.
If it lives as much as its potential, Divi may very effectively be the primary mover in that untapped market. And whereas there, it should probably discover itself in an ideal spot to make a giant constructive influence.
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