DNotes Global, Inc. today announced the production release of its DNotes 2.0 digital currency. The launch comes in the wake of a pre-release on March 18, 2018, and a successful period of alpha testing. The upgraded coin is designed to replace the first-generation DNotes that were first developed in 2014, with new features and benefits for stakeholders.
According to company reports, DNotes will continue to be a blockchain-powered digital currency that provides users with the payment system they need to directly transfer value quickly, efficiently, and at less cost than most third-party payment systems. The upgrades are designed to provide the digital currency with greater value and utility while offering improved benefits for those who own and use the coin.
Perhaps the most noticeable change is the adoption of proof-of-stake (POS) as the currency’s new network consensus algorithm. DNotes had previously relied on proof-of-work for transaction validation. The decision to switch to POS was motivated by a desire to place more influence with the digital currency’s stakeholders and reduce the influence of miners.
With the new system, DNotes owners will have the ability to run network-supporting nodes using their DNotes wallets, and receive payouts based on their coin balance in relation to the total amount of staked DNotes coins.
DNotes Global, Inc. CEO Alan Yong suggested that the new system would provide users with new incentives and increased influence. He also addressed the company’s broader vision and immediate plans for facilitating its long-term goals.
“DNotes 2.0 has been four years in the making, and now is the right time for these changes to take effect,” Yong said. “Though it is true that the digital currency industry remains in a nascent stage, we believe that it has matured enough that a serious effort can now be made to achieve more widespread acceptance and adoption of the technology. This is the beginning of that effort.”
According to Yong, DNotes 2.0 represents the next stage of the company’s development as it continues to develop and expand the DNotes ecosystem. As he notes, DNotes is a different kind of digital currency project, focused on achieving its goal of becoming a globally-accepted payment system and parallel currency that is accessible, inclusive, and financially-empowering.
Much of the DNotes ecosystem will continue to be familiar to long-time users. For example, the company’s innovative cold storage “online fortress” – DNotes Vault – will continue to serve as a primary web interface for DNotes stakeholders, offering quick and easy-to-use digital currency management tools for its users. At the same time, the Vault will continue to provide state-of-the-art protection for those users’ funds, backed by a guaranteed fund that protects those holdings.
Other features will receive a fresh makeover, however. Long-time DNotes holders will quickly notice important changes to the DNotes Cryptocurrency Investment Savings Plans. The new CRISP payouts will provide those stakeholders with blockchain-generated interest on funds that they hold in their DNotes accounts for a certain amount of time. That interest is expected to be earned at a rate of 0.5% every 30 days.
DNotes 2.0 will also implement a new automated invoicing system that adds a unique transaction invoice number at the blockchain level, to simplify digital currency commerce for online merchants who choose to offer their customers the option to make purchases using DNotes.
“With the launch of DNotes 2.0, we are furthering our commitment to taking a proactive approach to digital currency mass adoption,” Yong said. “Digital currency’s promised benefits will not materialize overnight and will only be realized with active efforts to bring this technology into the mainstream. DNotes intends to lead that effort.