“Districts” of decentralization: the collection of marketplaces by district0x
We all know that decentralization is the most happening thing in business. In recent years, Uber and Airbnb have created a huge impact in their respective industries using this market structure. Using the Ethereum protocol as a base, the district0x network has created a collection of decentralized marketplaces or communities, also known as “Districts” in the crypto community.
It also aims at resolving the coordinating issues and the inefficiencies that are found in the marketplace with an ultimate objective to create an ecosystem with no central authority. To keep it simple, the community governs the place.
What actually does district0x do?
Districts are the decentralized marketplaces and communities which are built on the d0xINFRA framework. All the districts have few basic functionalities such as:
- postings and listings;
- search and filtering;
- ranking and reputation;
- payments and invoicing.
Nowadays, more and more people are willing to work independently without committing to a permanent job contract. Considering this trend, district0x has launched its first district in January 2017. Ethlance, a job market site for the freelancers in which the payments are made through Ether cryptocurrency.
This service is distributed on the Ethereum public blockchain. It allows the user to create profiles either as an employee or employer. Users can list and apply to the positions, exchange feedback and invoices with each other.
No additional service charges are collected by Ethlance but the users are required to pay the cost of gas (literally a fuel to operate the blockchain) for advertising the profiles, posts, messages, feedback and invoices.
At the end of 2017, district0x introduced the second district “ Name Bazaar”. It is a peer-to-peer marketplace for exchange of the names which were registered via Ethereum Name Service. Name Bazaar allows users to find unique names, buy and sell, and even request or track the status of names which were not registered yet.
This service has laid the foundation for a secondary market for ENS names. Users have the option to buy named or participate in name auctions. Name-sellers have to create an offering by selecting the name and setting a starting price, minimum bid increase, and the duration of the auction. All these actions take place in the public Ethereum blockchain and with no additional fees to the sellers and buyers.
Who doesn’t like memes, they can either be used to crack a joke or even transfer some news quickly. district0x is now working on an interesting project with a funny side to it. It’s called “Meme Factory”, a marketplace to mint the tokenized memes and put them up for sale to the users.
The platform uses a tool known as a “token curated registry”. This Registry is called the Dank Registry in which the users can submit their original work to Meme Factory and the token holders decided whether the meme makes it to the market or not.
What are the future plans?
Currently, district0x is working on an interesting project called district0x Education Portal. It helps the user to brush-up the fundamentals about the general topics in the field and one can also dive deep into the topic of interest. For the future projects, the district0x team is reaching out to the developer’s community in Github and encouraging them to come up with out-of-the-box ideas for new districts. Using the district0x Network Token, users can support the districts which they find good or willing to see in the near future and all this can be done using the District Proposal Voting dApp. Users will also have an opportunity to design and deploy their own district with the help of the District Creation Platform.
How to get access to district0x facilities?
district0x has developed a token called “district0x Network Token” (DNT) which allows holders to participate in contributing to the development of the network.
DNT enables the token-holders to do the following:
- Facilitate participation and coordination in the development of the network;
- Signal support or disapproval for the proposals of the network participants;
- Stake their tokens to deposit pools which provide district-specific voting rights;
- Vote on branding and design decisions of new districts.
On the whole, district0x is a network of decentralized apps and communities heading towards a decentralized ecosystem. Although the participants are not allowed to pay for the services in DNT, it plays a crucial role in empowering the users by giving them an opportunity to participate, support and develop new districts or dapps which in turn allows the users to avail the unique services offered. DNT arms the token-holders with the capability to control and monitor this process of decentralization.
How to get DNT the best way?
Users can obtain DNT on traditional exchanges and instant exchanges, like ChangeHero.
ChangeHero provides users a wide range of DNT trading pairs: DNT could be traded against 140+ coins and tokens. Moreover, users can buy DNT with VISA and MasterCard. There is no registration required and transactions flow really fast: it takes only 5–7 minutes for completion.