Divi is a blockchain and smart wallet that aims to bridge the gap between the crypto world and the general public in order to encourage widespread cryptocurrency adoption. Here’s our review.
What Is Divi?
Divi aims to make crypto easier for the masses to use. Found online at DiviProject.org, the platform plans to bridge the gap between the crypto world and the masses.
The Divi technology allows people to make private, instant transactions with unique usernames, instead of impossible-to-remember crypto addresses. Your username will also have social features – like the ability to add photos, skins, “pockets”, and more. The username system will be used on the Divi blockchain and wallet.
The blockchain is scheduled for release in April 2018. Prior to the release of the blockchain, the developers are selling DIVX tokens, which will eventually represent DIVI tokens on the Divi blockchain. DIVX tokens are built on the Ethereum blockchain and are ERC20-compliant.
How Does Divi Work?
One of the key features behind Divi is the “tiered masternode system”. That system involves five tiers that can be setup with a single click – at home or in the cloud. The company describes it as “like printing your own money.” There are Copper, Silver, Gold, Platinum, and Diamond levels.
Meanwhile, Divi’s new lottery block technology helps to secure the network. 11 participants can win up to 5,000 DIVI every week. The winnings will be deposited directly into users’ wallets.
The platform is built on a new custom blockchain. That blockchain stores names and metadata along with transactions. With today’s blockchain networks and cryptocurrencies, you typically don’t exchange much information during a transaction – you just know the receiver’s wallet address. With Divi’s wallet, each transaction will include additional information. This will allow the wallet to connect and identify the receiver of funds to be sent, displaying a photo or logo and other information that adds an additional layer of security.
That “additional layer of security” refers to the fact that users can avoid sending funds to the wrong place. Today, if you send money to a bitcoin address, and one character is incorrect, then your funds could be lost forever. With Divi, you can see the basic profile information of the person receiving your money.
Today, there are two types of Divi tokens, including DIVI tokens and DIVX tokens. The primary use of DIVX tokens is to hold them until the Divi blockchain and network is ready to go live, at which point you’ll be able to exchange them for DIVI.
Divi advertises all of the following features in its “smart wallet”:
- Easy to Use: Divi is designed for mass adoption, which is why ease of use is a key goal. Divi replaces confusing, hard-to-remember addresses with an intuitive username system.
- Earn While You Sleep: Users can put their coins to work while they sleep. They can stake them on a masternode. The more you stake, the more DIVI tokens you receive in return. It’s like storing your coins in a savings account.
- Decentralized Marketplace: Divi users can take control of their coins by selling goods and services in the market. This feature is only available to DIVI holders.
- Live Community: The Divi community allows users to engage with blockchain experts and community members 24 hours a day, 7 days a week.
- Masternode System: Divi describes its system as “the world’s first tiered masternode system”. This system encourages users to hoard and buy more DIVI to increase their earnings.
- New Ways to Transact and Manager Money: Divi aims to be more than just a wallet. It has a vaulting feature, a savings account feature, multiple pockets, and ways to automatically split incoming funds between partners.
- Credit Card: Divi plans to issue a credit card or debit card that’s directly connected to your Divi wallet.
- Multi-Sig Support: Divi’s smart wallet will have multi-sig support, which means the ability to require multiple signatures on each transaction made with the wallet.
How Are Tokens Used?
DIVI tokens will be used for three core functions:
- Earning Tokens with Masternodes: You can earn more tokens by installing the masternode software on your computer.
- Earn Tokens with a Staked Wallet: You can earn tokens by leaving tokens in your Divi wallet. The more Divi you keep in your wallet, the more you’ll earn. Your wallet will also be used to support transactions across the network.
- Marketplace: You can spend DIVI tokens in the online market.
The Divi Token Sale
The Divi token sale will distribute DIVX tokens. As mentioned above, DIVX tokens are placeholder tokens until the main DIVI blockchain is released. They’re ERC20-complaint tokens.
During the crowdsale, users can buy tokens at a rate of 1 ETH = 500 DIVX, with bonuses available through the token sale.
The crowdsale will begin on Ethereum block number 4438800. You can get updates on the crowdsale by signing up today at DiviProject.org.
Who’s Behind Divi?
Divi was founded in 2016. The company plans to release their blockchain and mine the genesis block in Q1 2018, with active development on the project taking place throughout 2018. In the whitepaper, however, the genesis block date is expected on April 1, 2018 and not in Q1 2018.
Key members of the team include Michael Greenwood, Geoff McCabe, and Nick Saponaro.
Divi is a brand new blockchain that aims to combine multiple blockchain features into a single platform while improving on multiple aspects of the technology. It plans to offer the best features of DASH, for example, along with an easy-to-use UI. The overall goal is to create a blockchain and cryptocurrency that appeals to a mass audience.
A key part of that goal is Divi’s development of a smart wallet, a wallet with unique savings features and a multi-tiered masternode system on the Divi blockchain. That wallet – and the blockchain – will attach profile information to each transaction. Instead of sending money to an anonymous bitcoin wallet address, you can send it to a verified profile with personalized characteristics.
To learn more about Divi’s upcoming blockchain, scheduled for release in April 2018, visit the company online today at DiviProject.org.