Digitalcoin (DGC) is based on proof-of-work (PoW) paradigm that uniquely incorporates three different PoW algorithms: Scrypt, SHA256, and X11. To ensure scarcity and non-inflationary long-term behavior of DGC, only approximately 48 million coins will ever be made.
A masternode is a type of node within the Digitalcoin peer-to-peer network that performs specialized functions on a blockchain. In essence, masternodes are “servers” that are established and maintained by community members, provided that specific criteria (e.g., sufficient balance) are met. Because masternodes require a significant number of coins (e.g., collateral) present on deposit (and thus not free to move) they are also known as bonded validator systems. The presence of masternodes stabilizes the network and protects it from malignant, third-party actors.
Masternodes and staking are completely separate consensus mechanisms. Sometimes they are implemented together, but this is not always the case. Of importance, they both accomplish “distributed consensus” by locking of “stake,” which acts like collateral to help assure that the holder will not attack the network (via the assumption that it would be self-destructive to do so). More on this topic here:
In addition to the three-algorithm PoW generation utilized by Digitalcoin, additional security comes from the Network’s many masternodes. Although there exists a possibility that a particular algorithm or another component of the network may be vulnerable to a 51% attack, the number of “moving parts” within Digitalcoin’s ecosystem makes it highly unlikely that a successful attack could be carried out. Morever, due to the large amount of coins required to effectively attack the network using masternodes, it would be impractical for a dishonest player to proceed with such a plan.
There are three main ways of acquiring Digitalcoin (DGC): [1] Purchase with fiat currency using a specialized vendor, such as BexCrypto [2] Exchanging other cryptocurrencies for DGC on platforms such as FreiExchange , FreiXLite , XeggeX or Komodo Wallet and [3] Selling goods or services for DGC, using platforms such as the EWMCI Shop .
There are several ways of securely storing Digitalcoin (DGC): [1] Our desktop Qt Wallet , [2] The state-of-the-art Komodo Wallet and [3] The Gemmer Wallet by Primecoin . In addition, we are working on our own, native EWMCI wallet platform called CoinMunityWallet. Additional resources and links can be found on the EWMCI Resources Page .