DigitalBits is an easy-to-use open-source blockchain used to power consumer digital assets. These may include: Loyalty points, gift cards, fan tokens, digital currencies and more.
The DigitalBits blockchain can process up to 10,000 transactions per second and uses the Federated Byzantine agreement consensus mechanism that makes the network eco-friendly.
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The DigitalBits blockchain is known as the “blockchain for brands.” Brands can leverage the DigitalBits network and connect directly to their consumer application. Anyone can launch their digital asset using DigitalBits and connect that asset into a regular app that can be found in an app store.
These types of assets are known as branded digital assets and may come in the form of a digital currency, stablecoin or non-fungible token (NFT). Branded digital assets are designed to support heightened levels of consumer engagement, market intelligence, and overall value that consumers can spend everyday. Examples of a branded digital asset may include loyalty points for a retail brand, gift cards, store credit & more.
DigitalBits utilizes multi-hop technology to further support the potential for on-chain asset liquidity. This means that consumers will have the ability to access any available asset, allowing for more liquidity. For example: Multi-hop would allow a user to trade their coffee points for airline points in a seamless manner.
Multi-hop enables the potential for trades to be completed up to 6-intermediary hops, in the absence of a direct market. This amalgamates all other order pairings within the ecosystem in such a case, to ultimately satisfy the initial trade.