Dice is on a Roll!
6 sides to a dice? Think again!
Rolling into the market is DICE, a form of digital cash that promises to bring an imaginative dimension to cryptocurrencies.
DICE, an acronym for DIgital CErtificates, is a new cryptocurrency crowdfunding platform that revolutionises blockchain technology, particularly the Initial Coin Offering (ICO) fundraising method.
The traditional ICO approach is beset by cost inefficiencies and is predominantly adopted in fintech start-ups, posing a disadvantage to companies who specialise in producing tangibles, such as those in manufacturing or robotics.
Initial DICE Offering (IDO) tackles this difficulty by developing a pioneering and user-friendly “Cluster Model” economy, effectively allowing every business, non-profit organisation and individual to assume the role of an operator.
As depicted above, synergy between miners and operators is of utmost importance. Although miners in the DICE economy provide the computing power to generate valid DICE units of 1024 bits (128 bytes) each, operators need to certify the accuracy of the transaction before miners can be rewarded with coins. For every new DICE that is mined, the operator of the specific network also increases in capital value.
Hence, the Cluster Model encourages the establishment of a social economy through Investment Mining. With the prerogative to choose whichever operator to work for, like-minded individuals can be pooled together in fundraising efforts for specific businesses or worthy causes while mining for coins independently.
Moreover, transaction fees are eliminated in the system given a divergent incentivisation framework. In the DICE economy, miners are driven to create new DICE units that can be used in exchange for goods and services while the benefit for operators lie in the amalgamation of DICE units that can be used as collaterals to forge future deals. Besides, with the model predicated on a mass of disjointed nodes, massive parallelisation and extensive scalability of the data throughput can be materialised.
Furthermore, in consideration of hacks happening globally and investors losing their capital, security of the system has become one of the topmost priorities of users. DICE is able to plug the gap by offering a new communication protocol which makes hacking virtually impossible.
Such reliability arises as DICE synthesises the advantages of both traditional fiat and digital currency. With digital wallets and exchange networks absent in its infrastructure, storage of DICE can take place literally anywhere- that is to say, printed DICE cash in physical wallets or DICE files in USB flash drives. As such, retrieving useful data for hackers would akin to looking for a needle in a haystack, lowering the susceptibility of DICE to privacy breaches.
Find out more about DICE at:
FB: https://www.facebook.com/DICEsup/
Twitter: https://twitter.com/dicesup
Medium: https://medium.com/@DICEsup
Telegram: https://t.me/DiceMoney
