DNotes Global, Inc. has announced the production release of the company’s DNotes 2.0 digital currency, which will reportedly offer upgraded features and new benefits for the coin’s stakeholders. In a press release issued on Monday, the company confirmed that the latest version of DNotes comes with several important changes designed to reward DNotes owners and further the goal of achieving widespread acceptance and adoption of the digital currency.
One key change is the switch from proof-of-work to proof-of-stake for DNotes network consensus algorithm. According to DNotes Global, Inc. CEO Alan Yong, that change was something that had been in the works for some time and was implemented to shift the balance of power within the community from miners to coin owners and other stakeholders:
“With proof-of-stake, those who hold and use DNotes will enjoy greater influence within the network and community. Our reward system will now incentivize those stakeholders by rewarding them for maintaining their holdings over time. At the same time, the POS model will help to diminish the potential for excessive miner influence and should reduce potential obstacles to further upgrades in the future.”
The POS stakeholder rewards will reportedly provide that incentive by making regular payouts to account holders, based on the number of tokens they maintain in their account “in relation to the total amount of staked DNotes coins.” Those stakeholders will also be able to use their digital currency wallet to run nodes that support the DNotes network.
The press release also confirms much of what the DNotes team had already been revealing in online communications over the last several months. For example, the DNotes Vault will continue to fulfill its role as a secure, easy-to-use storage environment for DNotes holders, with a guaranteed fund that helps to secure those customers’ holdings against potential loss.
The company’s Cryptocurrency Investment Savings Plans will still exist, but the structure and payout system will change. With the launch of DNotes 2.0, all stakeholders will be able to earn CRISP rewards for DNotes held in their accounts for the required period. The new system will payout blockchain-generate interest payments on those funds, with interest set at 0.5% every 30 days.
DNotes Global has also tried to address one of the most pressing challenges many online merchants face when it comes to tracking purchases made with digital currency. The DNotes 2.0 release will implement a new “automated invoicing system” feature that attaches a unique invoice number to each transaction made with the currency.
Yong stressed the important role that timing has played in the company’s decisions in recent months, and said that this is just the first step in DNotes Global's proactive effort to achieve mass adoption for the company’s digital currency:
“DNotes 2.0 has been four years in the making, and now is the right time for these changes to take effect. Though it is true that the digital currency industry remains in a nascent stage, we believe that it has matured enough that a serious effort can now be made to achieve more widespread acceptance and adoption of the technology. This is the beginning of that effort.”