HomeCoinsDigitalBits (XDB)2nd July 2021: Community Q&A. The DigitalBits Foundation will host a… |...

2nd July 2021: Community Q&A. The DigitalBits Foundation will host a… | by DigitalBits | DigitalBitsOrg | Jul, 2021

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When will decisions be made on how node validators will work?

Core node validators have been operating since Mainnet launched and new nodes continue to join the network. Details about this can be found here.

Can you improve communication? Especially stop baseless moonboy hype? We don’t want that.

This is one of our top priorities going forward as we restructure our internal process for communications. We understand the importance of proper communication and that we might have lacked on this front in the past. With a key focus on transparency and consistency, the DigitalBits Foundation is committing itself to refine its communication strategy to ensure all stakeholders are in alignment.

When will the public mainnet be released?

The DigitalBits Mainnet 1.0 first launched in 2018 and the Mainnet 2.0 upgrade has been live since its release in February this year.

What does DigitalBits development team looks like? How many devs?

DigitalBits is an open source protocol that welcomes contributions from any developer. The DigitalBits Foundation has taken an active role in contributing to the upkeep and growth of the network by supporting a growing team of blockchain developers. These individuals are located in multiple countries and help to secure the network, facilitate partner integrations, create developer tools and contribute to the blockchain core. The DigitalBits Foundation does not have a team of developers building specific products such as marketplaces. Rather, the Foundation is focused on supporting those that want to leverage the network to build their product. Important to note, the DigitalBits protocol was forked from the Stellar with additional functionality. This fork was first done by Al Burgio, founder of the DigitalBits open-source project in 2017. Although Al Burgio is the founder of the DigitalBits blockchain, he is not an employee of the DigitalBits Foundation, but continues to support the network at a growth and developmental level.

Update on token swap? When will it happen?

Bittrex Global is the first exchange to announce their integration of DigitalBits Mainnet 2.0. It is expected that other exchanges will follow. These exchanges have already indicated that they will support the swap of ERC20 XDB tokens for Mainnet 2.0 (digitalbits/XDB) tokens once their integration is completed. All ERC20 tokens swapped for Mainnet tokens will be burned. The timeline for integration is heavily dependent on our partner and this is why we have not given a definite answer on when this will occur. In the meantime, DigitalBits Mainnet tokens (digitalbits) are being used by partners’ products and tools.

The Foundation is also actively exploring the wrapping options of multiple prospective partners to allow holders to maintain access to liquidity on the Ethereum network.

How many brands are currently partnering with DigitalBits?

The DigitalBits Foundation is partnering with service providers who empower brands to leverage the DigitalBits protocol as opposed to directly partnering with the brand itself. For example: Our recent partnership with NFTY Labs means that any brand will be able to use their tools to add utility to their NFTs running on the DigitalBits network. Additionally, Zytara’s announcement of a new NFT marketplace would also allow brands to leverage the network to power their NFTs.

When will marketing start?

Our marketing efforts have been revised and will continue to evolve as we progress. The launch of the new DigitalBits website and consolidation of the Foundation’s brand with the project’s is amongst one of the first and important steps for us as it lays the foundation for other activities to follow. Our high-level focus for marketing includes but is not limited to:

1. Empowering our ambassadors via an improved ambassador program

2. Identifying the right individuals and organizations to support the DigitalBits brand

3. Consistent communication across all channels

4. Identifying new and creative ways to reach larger audiences

As we grow our internal team our marketing efforts will ramp up over the course of time. We believe that marketing will not be an overnight occurrence but rather the result of consistency and creative means of expanding the DigitalBits brand.



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