Introduction to the Cluster Model
DICE (short-form for Digital Certificate) is a new form of electronic money that possesses properties of both fiat and crypto currencies. It is essentially made up of small blocks of data that are extremely difficult to create.
Cluster Model
Similar to Bitcoin’s proof-of-work consensus where transactions are confirmed and new blocks are added by miners who compete against each other using computational power to get rewarded, every miner is an investor who mines for the operators in the Cluster Model.
Operators in the Cluster Model are entities acting as IT hubs whose responsibilities involve validating and keeping records of DICE units. They work independently in this massive ecosystem with no limits to the number of operators in the network.
That being said, let me briefly summarise the advantages of using the Cluster Model:
- Every operator has a separate ledger he/she maintains, unlike traditional blockchain structures where only one single ledger exists in the entire ecosystem
- Unlimited scalability can be achieved due to the maximization of parallization across all unconnected nodes in the network
- It allows the existence of a new type of fundraising called Initial Dice Offering (IDO)
Additionally, transactions can also be made offline as the fundamental system is essentially about the transfer of data between two parties. However, unlike during an online trade, the operator is unaware of the entire process when it’s offline. The sender will not be able to identify his receiver and the receiver will not know if the unit he receives is from the right source.
Regardless, such a risk can easily be resolved via the invention of “ownerless DICE”, the feature “releasing” being of significance.
“Releasing” can only be done by the current owner of the DICE unit and is made known to the operator before hand. After release, the said unit is ownerless and whoever receives it next automatically becomes its new owner. Thus, the risk mentioned earlier is eliminated.
Offline trading definitely opens up the possibility of new, exciting and interesting ideas for fintech in the near future.
To conclude, with the multitude of benefits that it brings to the table, DICE has the potential to become the future of money.
Find out more about DICE Money at:
FB: https://www.facebook.com/DICEsup/
Twitter: https://twitter.com/dicesupMedium: https://medium.com/@DICEsup
Telegram: https://t.me/DiceMoney
