What is DigitalBits(XDB)? How To Buy XDB Token In India?

What is DigitalBits(XDB)?

The brands in recent items have been pioneers in consumer engagement by rewarding them in form of points, credits, cashback, etc, and many more. Meanwhile, these points are fragmented and the redemption process is often for the customers which result in a lack of engagement.  Due to this consumer engagement is waning slowly impacting the brands instead. DigitalBits serves as a protocol layer for the creation of branded cryptos and other tokenized assets. 

The brands here on DigitalBits can be able to launch their own currency and in some cases, it may resemble stablecoins and connect with the consumer in a more interactive way. The platform, also known as ‘Blockchain for Brands’ aims to support the fast and affordable transfer of consumer digital assets called branded currencies, NFTs, stablecoins, and more. 

Who Are the Founders of DigitalBits?

The DigitalBits platform was launched by Al Burgio in 2018 along with the other team members including Daniele Mensi (CEO), Alex Simonini (Chief Brand Experience Officer), Alberto Orru (Director), Luca Turco Liveri (Board Advisor), and many people around the world. In 2018, the team launched the Early Access Program (EAP) to educate enterprise-grade adopters on the benefits of blockchain technology. Further in 2020, DigitalBits witnessed the launch of the XDB foundation which is a neutral agnostic governing body designed to support the DigitalBits blockchain and ecosystem.

How Does DigitalBits Work?

DigitalBits network is programmed to track, hold and transfer any asset within the network excluding its own assets as they have a ‘type’ and an ‘issuer’. The user needs to trust the issuer in order to hold the assets over the platform and to do so the user needs to create a ‘Trustline’. Trustline is an entry in the DigitalBits account. 

The network mainly consists of an application programming interface (API) and  DigitBits Core. The API allows the traders to communicate with the network to submit the transactions, check the account balance, etc. Besides, the DigitBits Core is the backbone of the network which is a collection of interlinked DigitalBit cores run by different entities across the globe. 

The transactions through the protocol are validated using the DigitalBits network. The core is linked with API frontier to assets and tokenization services, apps & wallets, loyalty and point program services, and customer apps. 

What Makes DigitalBits Unique-Use Cases?

• The blockchain is a fork of the Stellar and claims to be one of the fastest blockchains supporting enterprise-grade chains focusing on brands
• The ecosystem offers a Decentralized Exchange (DEX) enabling the tokenization and transfer of digital assets. 
• The platform offers matchmaking between buyers and sellers on an ‘order book’, facilitating cross-asset payments and conversions for those who want to transact in different currencies.
• The network offers 10K TPS being eco-friendly within the web3 ecosystem and highly sustainable.

DigitalBits(XDB) Price Analysis

Source: Tradingview

• The XDB price is hovering within an ascending rising triangle but is feared to slice through the lower support and drop hard
• Alongside, the price is trying to find a base at the 100-day EMA which may trigger a rebound further.
• If the price fails to hold at these levels, the descending trend may prevail else a rebound may rise the levels toward the resistance zone between $0.0015 to $0.0016
• The RSI and ADX, both point towards an extended bearish trend which may lower the price to the interim support at $0.0013

How to Buy DigitalBits in India

To buy DigitalBits in India, just follow the below-mentioned steps:

• Download the CoinDCX App on your Smartphone
• Enter the details required for registration
• Complete KYC
• After your profile is verified, fund your wallet and buy an XDB