Coin Spotlight: district0x
A cooperative network of decentralized marketplaces and communities powered by Ethereum, Aragon, and IPFS.
What is district0x?
The district0x network is a collective of decentralized, autonomous marketplaces and communities, which are known as districts. These districts are built on a decentralized and distributed, open-source framework, known as d0xINFRA, and are powered by Ethereum smart contracts. The network is creating a friction-free virtual economy that enables general capabilities such as posting and listing, searching and filtering, ranking others within the community, and payments and invoicing.
Online marketplaces and communities are a common concept nowadays. With companies like Amazon, eBay, Upwork, and Fiverr containing large userbases around the globe, there is very little influence users have over the direction and structure of these platforms including fee structure, usage guidelines, and even UI/UX. User data, reputation, and identity for each individual will also disappear if any of these organizations cease to exist.
District0x is looking to solve this problem by creating online districts that serve as decentralized, autonomous organizations (DAOs). Districts are built on open standards and don’t rely on a single, centralized decision-maker to remain operational as each individual within a district can vote on how it will function. The result is that the districts are always accessible and the data will never disappear even if the districts are terminated.
The Districts
The innovation behind these districts is that BOTH owners and users can determine how a specific district is operated. Decisions that impact one district do not impact another meaning that every aspect of these communities can be highly customized to cater to the needs of the people that regularly use them.
Currently, the district0x team has permission to create districts, however, future plans are to create an interface that will allow any user to create their own decentralized marketplace or community. All of this will be deployed on the blockchain using Ethereum smart contracts and governance from Aragon.
The platform was created to be free of third-party interference and thus the development team has an open proposal that allows users to suggest new districts and vote on which ones should be deployed while waiting for the launch of the user platform.
Ethlance is a freelance job market and the first district on the district0x network. It allows users to create an employer or employee profile, list or apply for open positions, rank and provide feedback for employers and employees, and send and receive invoices. Ethlance does not charge service fees and users only pay the necessary cost of gas to broadcast their profiles, posts, messages, feedback and invoices to the Ethereum network.
Name Bazaar was the second district deployed on the network and is a peer-to-peer marketplace for the exchange of names registered via the Ethereum Name Service. The platform intends to provide an easy, discoverable registry of ENS names available for purchase by their owners. Owners have the option to open customized auctions or list their names for sale at fixed prices.
Meme Factory is the third district on the district0x network and will allow users to mint their own tokenized memes and offer them for sale immediately. The platform will provide an interface for the creation of provably rare digital assets on the Ethereum blockchain that can be listed in the bulletin-board style marketplace for exchange.
d0xINFRA, IPFS, and Aragon
The d0xINFRA infrastructure is comprised of a stack of front-end libraries and Ethereum smart contracts that are distributed on IPFS (InterPlanetary File System) and work to power the basic functions of the districts. The open-source framework allows any district to create any auxiliary modules to implement unique features and improve basic functionality.
IPFS provides security and file storage and ease of access for all users.
Aragon is a platform specifically designed to deploy virtual organizations or entities. Voting is a key component of creating decentralized marketplaces and communities and Aragon is used to create, administer, and govern individual districts. These voting rights can be used to participate in the process that determines the district’s characteristics such as design, functionality, the accepted code of conduct, the integrations it can use, etc.
Coinplan is very excited to feature district0x because their mission is to facilitate the operation and governing of marketplaces and communities as decentralized entities. The Team seeks to enable the re-creation of many of the internet’s most popular applications and services while eliminating third-parties seeking rent and controlling user data and decisions.
You can view district0x inside Coinplan’s Alliance Portfolio.
To learn more about district0x, please take a look at these helpful links:
