What Is A Cluster Economy And How Is It Different Than A Blockchain?
DICE, the next-generation cryptocurrency is a new and a universal platform for businesses to raise funds through crowd-supported cryptocurrency mining. DICE aims to provide users with an alternative to the Fiat currency; while replacing the ICO funding model with a more cost-efficient IDO model where any business can raise funds without incurring huge costs.
Unlike the present Blockchain system, DICE combines the properties of both cryptocurrencies and traditional money while eliminating the limitations of both. Based on a different operational model, users dealing in DICE find the deals way similar to the real-world work that brings a secure and a confidential virtual handshake that is verified by a witness.
The “Cluster Model” Economy of Dice
DICE, for the first time in the crypto world, introduces the “Cluster Model” economy wherein, a large number of unconnected peers, known as operators (in the ecosystem) work within a singular global network. The Operator, in theory, is a business entity that is responsible primarily for the validation of DICE units and maintaining a database of every valid DICE units associated with a particular operator. Unlike the typical Blockchain architecture, where a single ledger is maintained, with DICE’s “Cluster Model”, every operator maintains a separate ledger that might be private or public in nature. Such ecosystem provides multiple benefits over the traditional Blockchain Technology which are mentioned as under:
– Brings true decentralization within the economy.
– Fully customizable at every single operator level.
– Allows complete transparency or full privacy.
– Makes it practically impossible to steal or hack DICE.
– Brings a high level of security.
– Allows every miner to invest in a business of their own choice.
– No single operator can ever affect the entire economy.
Mining in DICE Ecosystem:
The cluster model of DICE ecosystem offers “Investment Mining” where miners mining DICE own the mined units. However, the capitalization of the respective operator, where the miner operates, increases with overall mining production. The miner is independent to choose the operator, for whom they will mine, making an investor out of every miner. This breakthrough model brings multiple options for miners within the economy, while every operator gets an opportunity to self-fund their business venture or even a social cause. Given the nature of the cryptocurrency, the applications for fund-raising are limitless.
Miners in the ecosystem have a goal of generating 1024-bit block of data consisting of the fields defined in the DICE structure, which will generate new DICE units. The newly mined units primarily belong to the miners and such can exchange the valid units to purchase physical goods or services, or other currencies, or simply transfer them to friends and relatives. Such process of exchange results into Trading of DICE units. While DICE is not based on a blockchain system, users don’t require any special digital wallets to hold DICE units as they can be stored offline in the form of a printed note. With such notes, transactions can even happen offline, similar to the Fiat currency. All the transactions are validated and transfer claims are handled by Operators responsible for maintaining a ledger within the cluster economy.
The Operator Role:
As already discussed, Operators within the ecosystem are responsible for acting as a guarantor that validates the ownership claims of DICE units while validating the new units of DICE generated through mining. Every operator in the economy maintains a separate ledger with hash for every known associated DICE and reacts to the validation messages and claims of ownership sent from external users within the system.
In case an operator happens to cease their business operations, it can never affect the entire DICE economy beyond the units that are associated with that single operator.
With multiple benefits that the “Cluster Model” brings, DICE brings a new revolution for practically every individual that has ever aimed to start an owned business venture. The features such as holding DICE in physical format, ability to mine offline, and eliminating the need of requirement of a digital wallet or an official exchange brings a high level of security and stability within the crypto-market. Offline mining being a rare instance in the crypto-space, DICE holds the potential to replace traditional currency in a shock-free implementation that will work for every individual and every business simultaneously.
To find out more, visit https://dice.money/
You can read the white paper at https://dice.money/docs/Dice_Money_Whitepaper.pdf
Name: Dilip Chandar