What is Deluge Network?
This is a new Token based platform using the Blockchain technology that will allow you to move your Bitcoin at the rate, power and speed of Ethereum. You can also contribute your Bitcoin to any ICO now with ease, speed, reliability and total privacy without the need of an exchange.
How Does Deluge Network Work?
The service works by allowing its users to directly place Bitcoin to an ICO without an exchange. The times for transactions and fees are said to be minimal. And transactions will also be as simple as identifying an ICO’s address and sending Bitcoin through your Deluge Wallet and software. Any users can also receive Deluge Bitcoin Tokens known as DBTC instantly back into their wallet if they prefer a simpler transaction Deluge Network also makes it possible to move Bitcoin like it was on the Ethereum Blockchain. That means faster transactions times and cheaper ones too.
It’s not like other exchanges apparently. You use Deluge Network to be affordable, incredibly fast and direct. With this you can give Bitcoin Holders a very private, clean and easy to navigate path, so you can send to ICOs. You can also exchange it to ERC20 and Bitcoin.
The Network enables Bitcoin users to move like they’re on Ethereum once again. The Blockchain on Ethereum is known to be much faster then Bitcoin. Deluge works by giving an equal amount of DBTC to the BTC Spent. It makes it much faster and easier for the conversion and exchange of Bitcoin.
Users just send Bitcoin to DBTC using their wallet application. The software will then send a receipt to Deluges contract via Ethereum. It will create a smart contract and verify it then send the DBTC into the user’s wallet.l
To contribute to an ICO directly, a user will designate the ICO’s address using the software provided by Deluge. You’ll then be able to contribute and convert DBTC with ease. It also works in the opposite as well. There are full technical details to the software and how it works when you join the community.
What is the ICO on the Deluge Network?
The network has decided not to hold an ICO. But DBTC will be minted on the need and demand of the user. At this time, they are waiting to announce additional validators and contributors. As of now, there are two different platforms that are involved with them. The first of which is New Alchemy, a company that currently provides technology and token game theory. They are also known advisors to some of the most innovative companies in the world.
Another company is Bloq, they are known to help install and deliver blockchain technology to some of the leading companies around the globe. Other than that, there are no other companies involved in Deluge at this time.
Deluge Network in Conclusion
If you’re looking for a way to increase the speed at which you can trade with Bitcoin and want it to be simpler and more on par with Ethereum, then Deluge Network is ideal for you.