Interest in Dubaicoin Cryptocurrency among investors in the world is going high as cryptocurrency offers unique opportunities and innovation to investors at the global financial level. This currency has no control by the government hence its decentralized nature is far different from traditional currencies.
This cryptocurrency uses cryptography technology to make its transactions more secure.
What Is Dubaicoin Cryptocurrency?
Dubai has launched its first cryptocurrency Dubaicoin i.e. DBIX. This currency is traded on selected exchanges based on a public blockchain. This coin has been launched by the UAE company Arabian Technology.
This is the first coin of Arab countries which is based on public blockchain. According to the company, the value of DubaiCoin will be regulated by the city of Dubai. According to the company, Dubaicoin will soon be used for payment of online or offline goods and services. will wake up.
The city and authorized brokers will have control over the circulation of the new digital currency. This coin can identify itself with the dirham as a central bank of digital currency (CBDC). Being in Dubai, this cryptocurrency can remain sustainable because the dirham also remains stable against the dollar.
What Are The Benefits of DubaiCoin Cryptocurrency?
Like other cryptocurrencies, Dubaicoin relies on blockchain technology which, unlike other traditional currencies, is not under the control of any single entity. Due to using Blockchain technology, the peer-to-peer transaction takes place in Dubaicoin which makes Dubaicoin quickly transferred as compared to traditional banking system.Low transaction fees are charged for transferring Dubaicoin so it is quite cost effective.
The blockchain technology used in it uses cryptographic principles which makes the transactions done secure and genuine. Dubaicoin is known for proof of state in which it provides a secure network to its community. Dubai always keeps exploring new technology which shows that Dubai wants to be on top in the world in blockchain technology, this shows its ability and talent to invest.
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