DigitalBits Launches Mainnet 2.0 with Important Upgrades

DigitalBits Launches Mainnet 2.0 with Important Upgrades

GRAND CAYMAN, Cayman Islands , Feb. 18, 2021 (GLOBE NEWSWIRE) -- The XDB Foundation announced that its updates to the DigitalBits Mainnet 2.0 are now live, including several enhancements made since the original Mainnet 1.0 network launched. This milestone kicks off the rollout of three product deployments by the XDB Foundation in the coming weeks

Branded Stablecoins

The DigitalBits network was specifically designed to support certain consumer digital assets, with a focus on branded currencies and branded stablecoins. Branded digital assets are an emerging asset sub-category, which combines the benefits of blockchain technology with the stability of recognizable currencies such as US dollars, while introducing a host of other benefits. These include interoperability with existing applications, leveraging existing network effects, increasing consumer access and heightening market intelligence.

Esports and Gaming

Esports have quickly surpassed many traditional sports in viewership, with recent projections of over 3 billion gamers worldwide by 2023. However, they still face certain challenges when it comes to secure and efficient payments. Solutions such as Zytara dollar (ZUSD), a branded stablecoin issued in partnership by Zytara and Prime Trust, can address the inefficiencies as well as introduce a host of other benefits. These include tournament payments, merch sales, in-game items and enhancements, fan engagement, programmable incentives and real-time funds transfers around the clock.

“We are excited to work with our partners to fulfill our vision of expanding the Zytara dollar onto the DigitalBits blockchain network, following the successful launch of ZUSD on Ethereum in 2020, “ stated Lisa Loud, General Manager of Digital Currency at Zytara. “Zytara is also committed to operating DigitalBits network nodes across the globe, helping to transform this blockchain into a world-class technology.”

Updated Resources

The XDB Foundation and DigitalBits websites will be updated to include updated developer documents, tokenomics, node programs, DigitalBits blockchain tutorials and walkthroughs. The XDB Foundation will also be rolling out educational curriculums, developer challenges, and hackathons, as well as startup competitions to accelerate new product development and integrations with the DigitalBits blockchain network.

Moving Forward and Expanded Uniswap Program

Strategic ecosystem participants have begun to access the Mainnet 2.0 repository, which will become publicly available during the week of February 22, 2021. Partners have already expressed their excitement over this major upgrade.

“We’re very excited to support the transition of DigitalBits to Mainnet 2.0,” said Kory Hoang, Stably CEO. “Assets issued through our Stablecoin-as-a-Service will now be able to leverage the speed and power of the DigitalBits blockchain. Stably is also committing to operating nodes on the DigitalBits network globally to support decentralization and security of the network.”

To celebrate these latest developments, the XDB Foundation will be expanding the XDB Liquidity Reward Program originally launched on Uniswap on December 30, 2020, to include a XDB-ZUSD pairing activation.

“We look forward to both new and existing ecosystem participants beginning to engage with Mainnet 2.0 and its associated applications, as we execute on our mission to build one of the world’s largest blockchain ecosystems,” stated Michael Gord, Managing Director of the XDB Foundation.

About DigitalBits

The DigitalBits Project is an open-source project that developed the DigitalBits blockchain protocol and a secure, low-cost global transaction network, and tools. This blockchain protocol and network layer support various use cases including consumer digital assets, specifically branded cryptocurrencies including branded stablecoins.

About XDB Foundation

The XDB Foundation is a non-profit organization focused on assisting DigitalBits and related technologies. The XDB Foundation’s core objectives include: supporting the innovation and adoption of the DigitalBits blockchain and the use of cryptocurrency in enhancing the consumer experience and corporate social responsibility initiatives, shaping commercial standards and requests for technical expansion, growing the DigitalBits community through the inclusion of diverse regions; providing accountability and sustainability practices; and facilitating partnerships and ecosystem development.

Media contact:

Robert Penington

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