Everything you need to know about Divi Project

Injective protocol

The revolution of the blockchain and cryptocurrencies heralds a new era for the economy and the financial system. The financial systems have been the heart of global economics and market flourishing with a new way of investing and growing capital. Every financial perspective initiates, passes or terminates in terms of financial entities. The existing blockchain perquisites and traditional loopholes in finance exhibit the need for a global, modernized and frictionless financial ecosystem. This is how Divi comes into the picture.

Divi is emerging as a frontrunner on democratizing finance for the masses. The plethora of products and services, robust infrastructure and fast-maturing decentralized ecosystem make Divi unique compared to conventional cryptos.

Divi is a fork of Dash and PIVX, but today Divi has its track record and has acquired an interesting place in the crypto ecosystem by establishing itself in the top 100 crypto coin list of the coinmarketcap. During its launch in 2017, the project has earned its place in the market by achieving remarkable milestones. According to Omni’s Trust OAG ratingsDivi ranks third, competing with bigwigs such as PIVX and Dash.  Moreover, Divi’s mobile wallet intends to support crucial features such as ACH (Automated Clearing House) banking, third-party engagements with SDK (Software Development Kit) and earning opportunities. 

The article will help you gain valuable insights into the core ideas powering the financial ecosystem and how Divi functions in unison towards democratizing and decentralizing finance across the globe. This article speculates about all the factors around the Divi blockchain platform, with an in-depth approach to the following questions.

  • What is the Divi Blockchain platform?
  • Why is Divi necessary?
  • How does Divi work?
  • What makes Divi unique?

What is the Divi Blockchain platform?

Divi project is a cryptocurrency financial blockchain platform that is designed to accelerate the adoption of digital currencies. It allows the users to access a set of financial tools to execute cryptocurrency transactions. A user can either store, track and manage the digital assets on the Divi platform. Very few cryptocurrency financial platforms assist a user in streamlining the process to buy, own, and use digital currencies. The Divi Project aims to ease usability, accessibility to the overall cryptocurrency financial experience. It is a user-friendly platform for the new digital financial world without limiting blockchain security.

Divi is a Proof-of-Stake (PoS) network that relies on masternodes to secure the network. It features a native token, called DIVI, that users can stake on the network in exchange for inflation rewards or use as the in-network currency. Divi’s vision is to make cryptocurrencies safe, user-friendly, and accessible. It aims to accomplish this goal by offering several financial services that leverage its blockchain and DIVI token, including a digital wallet, currency exchange, and debit card (Divi Card). The Divi Project coin (DIVI) is a cryptocurrency, which undergoes the swapping process from DIVX to DIVI, where 1 DIVX is being swapped for 100 DIVI. 

Why is Divi necessary? 

There is still plenty of scope for cryptocurrencies to grow globally. It is so because crypto and blockchain conceptually can redefine and reshape the financial future with its major mass adoption. Crypto needs to offer everyday usability where a user can use a crypto stash to pay in cash, credit card or any other medium.  

Divi identifies usability and accessibility as the major pain points that have slowed down cryptocurrencies’ mass adoption. Hence, Divi provides a user-friendly platform solution to overcome these pain points. Incorporating fiat and other cryptocurrencies enables users to set up a bank account, debit card and other financial tools for day-to-day payment feasibility. Divi is a vast blockchain ecosystem with an innovative set of services to fulfill the following objectives.

  • To provide a self-sustained, fully decentralized payment solution that is easily accessible to many people.
  • To facilitate a variety of products for bringing cryptocurrencies to the hands of the public. For example, the Divi wallet helps in storing and managing crypto assets.
  • To target the banked population for maximum engagement into the cryptocurrency market.
  • To offer a decentralized alternative to banks for better social and economic incentives and allow users to control their assets with low transaction fees.
  • To improve scalability, simplicity, cost-effectivity and speed solutions by addressing the challenges of the existing cryptocurrencies in the market.
  • To participate in validating the transactions and earn rewards with a custom one-click masternode feature.

How does Divi work?

The Divi project is a completely decentralized network that runs on an autonomous organizational structure. The system is irrelevant to ownership as the entire community is responsible for governing it. It is possible through a PoS (Proof of Stake) consensus algorithm. This consensus serves the users as a medium to exchange value or access goods and services available on Divi Project. 

The staking nodes run the nodes and commit to a block by attaching a small “Proof of Work” (PoW) to a specific transaction. Thus, the PoW only commits to the transaction output being spent, including the node’s stake and the transaction’s timestamp. It also acknowledges the block rewards earned by that node, which get added to a block’s list of transactions. The block gets built independently of this constructed PoW. However, the block’s signature must match the same public key used to develop the proof-of-stake mechanism.

The Divi network also comprises a second layer network of master nodes that process private and near-instant transactions. The masternodes secure the copies of the blockchain and contribute to the validation of the transactions. All the masternodes in the network work together to ensure the proper functioning of the network.

They offer five levels of participation depending on the amount of Divi tokens held by the user. The users can select affordable masternodes and stake coins for supporting network security. Each tier corresponds to an increasing number of blocked Divi coins. The higher the tier chosen, the more rewards get generated. This system increases the decentralization of the Divi network, multiplying the number of Divi Coins holders and distributing the cards among multiple participants.

A master node system also encourages participation by holders of DIVI. Master node holders and other stakers in the network who hold more than 10,000 DIVI become eligible to win a lottery block once per week. It offers a reward to one successful miner of 252,000 DIVI, plus rewards to ten others of 25,200 DIVI. 

  • How are Divi coins circulated?

    The Divi Project is an all-encompassing financial platform that started using the Ethereum blockchain and utilizing an ERC20 token called DIVX. It was later launched in September 2018 and was swapped for DIVI when the project’s main net was introduced online for the first time. This process also witnessed one ERC-20 DIVI exchanged for 100 native DIVI tokens.

    Initially, Divi’s proof-of-stake (POS) blockchain had 617,160,700 coins in circulation. This supply increases every year as numerous Divi are minted with every block. It was initially set to 1250 coins per block but is vulnerable to a decrease by 100 coins per block until 2029. Therefore, only 250 Divi will be minted per block at that time. However, 45 % of the block rewards get distributed to masternodes, 38% to Divi stakers, 9 % to Divi development and marketing while 7 % to exchange and liquidity treasury and 1 % to charity.

     

  • How is the Divi network secured?
    Divi’s network security is ensured with a custom-designed proof-of-stake (POS) blockchain consisting of staking and masternodes. The several security layers incorporated in smart wallets secure the funds at an individual level. These include biometrics, private key recovery and multi-signature capabilities. As third-party security professionals audit Divi’s code, the system ensures no known vulnerabilities. It is expected that a time-lock feature can irreversibly lock coins for a specific duration.
  • How to set up a masternode?

    Setting up a Divi masternode involves the controller and remote nodes. The controller node holds the collateral while the remote node acts as a masternode.

    The first step is to acquire a certain quantity of tokens, which is known as collateral. This collateral acts as an entry ticket, which functions as a guarantee. When the user wants to sell a masternode, it is returned except in special cases such as Sinovate (SIN). The collateral varies depending on the type of project, such as 1000 tokens for Dash or Energi, 15000 for Stakenet42 for Horizen and so on.

    After collecting the collateral, a series of more sequential steps are performed to configure the masternode. Once the configuration is complete, the masternode starts running and generating rewards. The sequential steps to set up a MasterNode are stated below.
    Step 1: Acquire the collateral.
    Step 2: Follow the steps to install a wallet corresponding to the masternode on the computer and then synchronize it with the blockchain.
    Step 3: Transfer the collateral into this wallet.
    Step 4: Generate a node address in the wallet and move your tokens to this address.
    Step 5: Install your node by selecting to host it based on a server located in a hosting center (for example, Scaleway, Vultr, etc.).
    Step 6Synchronize the server with the blockchain.
    Step 7: Configure your MasterNode in your Wallet PC and start running it.
    Step 8: Receive the generated rewards at regular intervals.

  • What can Divi tokens be used for?

    Despite its primary function as a currency, Divi tokens can be used in follwoing multiple ways.

    • Expending
      The Divi project has become functional for setting online stores to accept Divi. Hence, the users can spend the Divi tokens at these locations to buy real-world goods and services.
    • Earnings with staked wallet
      Users who prefer keeping their tokens in the Divi wallet get profitable earnings each week. The wallet supports the Divi network in multiple ways by investing a considerable amount of time and money than masternodes.
    • Earning with masternodes
      The utility of masternode software and resources enables the users to generate more coins by maintaining, updating, and securing the Divi blockchain.
    • Participation in DNS System
      DIVI tokens are useful in buying custom names which can also be used as wallet addresses.

What makes Divi unique?

The Divi blockchain project describes itself as a “novel solution” to solve the lucrative problems in the crypto space. The upcoming monetary digitization would witness the largest transfer of funds ranging in hundreds of trillions of dollars. The Divi Project will be the first to market with a truly viable solution. Therefore, it has adopted multiple unique features that help set it apart from other blockchain platforms. Here’s a list of the most distinguishable features of the Divi blockchain.

1. 5-in-1 Click Masternode System

On the technology front, Divi deploys a “tiered masternode system.” This unique system comprises five levels of masternodes that can be easily set up with a single click. Each tier contains different collateral prices. It starts with the lowest level, such as Copper for 100,000 DIVI, and ranges to the highest, Diamond for a cost of about 10,000,000 DIVI. The different tiers provide rising bonuses ranging from 21.5% to 25.8% APR. Each of these tiers corresponds to a progressively higher number of blocked Divi coins. Hence, the higher a tier is, the higher are the earned rewards by the corresponding masternode.

Through the Masternode One-Click Cloud Install, users can set up their masternodes using a single click. The MOCCI (Masternode One-Click Cloud Installer) technology is highly functional, where any user can install the masternode service on their computer devices through cloud installation. A Divi Node calculator identifies an approximate amount of earnings the full nodes will garner.

Masternodes run 24/7 and the coins they commit remain in their wallet, within their control, but can’t be spent while funding for the masternode. These nodes communicate with each other to maintain a copy of the blockchain and execute transactions. Masternode owners select their level of commitment to support this network and are paid based on:

  • Coins held for funding the masternode.
  • Power and internet 24/7 connectivity.
  • Maintenance and voting on governance issues.

This handy feature enables the average users to participate in a cryptocurrency network and run full nodes without technical expertise. This ease of owning a masternode is a big leap forward to make crypto safer, mass accessible, and user-friendly for everyone. 

2. Advanced Governance system

Decentralized governance is a meaningful trait of the blockchain and the Divi platform is democratizing it in new ways. Unlike other masternode governance systems, such as DASH or PIVX (where only experts can set up a masternode to vote), Divi blockchain-based governance allows everyone holding DIVI to participate in the system. The advanced governance system encompasses the three crucial stages given below.
Stage 1: Modify the settings
The first stage of governance allows the community or coin holders to modify certain parts of blockchain and vote on various settings like:

  • Fee Amounts
  • Inflation Rate
  • Blockchain metrics
  •  ON/OFF features

Most of these settings automatically adjust to voting results, while others need software upgradation before changing them.
Stage 2: Proposals
The community members can type up spending proposals themselves and bring them to a vote. Moreover, they also get the right to elect some of Divi’s leadership and vote for funding proposals.
Stage 3: Leadership The Divi Project leads the DAO governance, forging a new path for larger mass adoption.

3. User-friendly Divi Smart Wallet

The Divi ecosystem includes the Ux-focused Smart Wallet to improvise socialize and humanize financial experiences. It is designed to eliminate most user errors, making it suitable for even inexperienced crypto users. It is used in combination with unique saving features to complement the multi-layered masternode system on the blockchain. The wallet attaches profile information, names, metadata to each transaction on the blockchain.

As a result, users can transfer money to verified profiles with personalized characteristics, thereby reducing the possibility of losing funds or sending funds to the incorrect recipients. Smart wallets overcome this barrier by allowing users to associate each wallet’s public key with a unique name of their choice, which others can use to send funds or connect with them. Divi smart wallet delivers the following valuable characteristics.

  • Fiat Reporting: Users can instantly see the fiat value of their crypto holdings present in the wallet.
  • User-Friendly Cryptos: Divi ensures the safety and usability of multiple cryptocurrencies like DIVI, Bitcoin (BTC)Bitcoin Cash(BCH)Ethereum (ETH) within the smart wallet ecosystem. The users can send bitcoin with a PIN code protecting the transaction and Ethereum by knowing a recipient’s credentials like email, phone number, etc.
  • Fiat Onramp/Offramp: Users get the feasibility to change their DIVI and other cryptos to dollars or other national currencies.
  • Immediately Swappable: Integrating new tech-trends like Atomic Swaps or DEXs (Decentralized Exchanges) into smart wallets results in easy swapping of DIVI and other cryptos.
  • News and Updates: Users get notified through in-wallet updates about their cryptos directly from the teams that run them.

4. Lottery Blocks

Divi introduces a novel “lottery blocks” feature to reward participants using their resources to support the network. An incentive reward system enhances participation and security in the Divi network to locate and exchange coins in the ecosystem. This feature undergoes the following lottery cycle strategy.

  • Eleven lucky masternode owners stand a chance to win up to 252,000 DIVI each week.
  • Blocks randomly select winners based on criteria from the regular lottery generating numbers. 
  • The participants staking up to 10,000 or more coins in their wallets becomes eligible for participation. The higher the stake, the more are the chances to win.
  •  Scores are calculated with the unique formula (the hash of the previous lottery and transferred to CBlockIndex and the 11 winners. 
  • On completing the lottery cycle after every 10,080 blocks, the blockchain network’s validators remunerate the new winners).
  • All Divi holders owning more than 10,000 DIVI and those involved in staking can also participate in the lottery reward system.
  • The lottery funds cost 50 coins, which are minted from every block. The largest hash secures 252,000 DIVI, while the other ten winners receive 25,200 DIVI each.

5. Atomic Swaps and Exchanges

Apart from holding cryptos, atomic swap technology instantly switches digital assets between different types of cryptos. This feature also enables the users to buy, sell, and trade, and convert from crypto to fiat currencies or vice-versa. Moreover, Divi’s hash-time locked smart contracts play a crucial role in making payments and receiving any compatible cryptocurrency in return.

6. Crypto Banking

Divi’s Smart Wallet™ has multiple ways to save, share, collect, monitor, manage money and protect transactions more securely with PIN code confirmation. Besides “fast send” and “dark send” typical crypto features, Divi blockchain provides many following novel ways to transact and manage funds.

  • Scheduled Payments It allows the transfer of payments by scheduling specific dates without any delay.
  • Piggy Bank It can help you set and save a small amount of your income, which remains inaccessible until a future specified date.
  • Subscription Transfer It sends a preset amount of Divi on a regular schedule, where the user can create a pocket, fill it with Divi, and send it out daily, weekly, or monthly to a given address.
  • Billing A user can send or schedule messages within the wallet with a link to easily pay and pre-decide what pocket the user wants the money deposited into.
  • Auto Split On depositing the funds, the user can redistribute them to other wallets per the preset percentages. It proves beneficial for business partners.
  • Tax Separation Using the Auto Split feature, the user can have the taxes for the selling products to split off automatically into a separate pocket.

7. Scalability

Numerous businesses use cryptocurrencies for executing transactions, which creates a scaling problem. Although blockchain runs ten times faster than Bitcoin, that is still insufficient. Divi platform plays a crucial role in improving TPs in the following manner.

  • Removing and recoding peercoin for better efficiency.
  • Smart Nodes: Every node on the network doesn’t have to be part of the transaction confirmation process. Only top-level masternodes are required to have minimum specs for quick processing of transactions. Hence, it will get us to above 250 TPS.
  • Lightning Network: The last stage is to add a lightning network to provide feasibility to millions of near-instant micro-transactions via off-chain side channels.

8. Vaulting

Vaulting delivers various savings opportunities and secures funds in a time-locked account that remains inaccessible to everyone, including the funder. It is highly secured compared to a safety deposit box. Even under the threat of coercion or extortion, a user cannot remove the coins until a specific date and time.

What Divi blockchain development services does LeewayHertz provide?

LeewayHertz offers the following set of development services to help businesses implement, run and experience the benefits of Divi blockchain.

  • dApps development

    Our blockchain developers hold proficiency at delivering enterprise-grade decentralized apps based on the Divi platform. Bringing in the same expertise to Divi dApp development, the team can assist your business clientele to accelerate their growth and ROI.

  • Masternode Set up

    Masternodes are 24×7 active full nodes on a blockchain network that executes the processing of private and instant transactions along with running and governing a blockchain protocol. Looking at numerous benefits of setting up a 5 in 1 click masternode system, reach out to our blockchain experts for a fully optimized end-to-end masternode setup solution.

  • Smart Wallet Development

    Our developers are well versed with smart wallet development to explore the transactions confined to sending and receiving tokens, creating crypto coins and custom tokens. Divi smart wallets solutions enable the users to hold a wide array of currencies and digital assets.

  • Smart Contract Development

    We provide smart contract development services for the private and public Divi blockchain network to support various dApps. Apart from design and development, our developers are skilled at rendering architecture, auditing, and delivering optimized smart contracts to our clients.

Final Verdict

Divi is a vast project with a multi-layered ecosystem, intending to revolutionize the financial sector by removing crypto adoption barriers. Divi blockchain holds an immense potential to gain a strong foothold for extending smart financial inclusivity to the unbanked population.  

Earning opportunities through Divi nodes and smart wallet offers the opportunity to investors for reaping their profits with the highest returns. Divi Project finds itself in a perfect spot to reach the untapped cryptocurrency markets and change the perception with a blend of blockchain technology and smart finance.

If you are looking to stake with Divi coins and build your complete financial ecosystem with smart wallets, contact our experts to explore our potential of using the Divi blockchain platform for your project. 

Author’s Bio

Akash Takyar
Akash Takyar
CEO LeewayHertz
Akash Takyar is the founder and CEO at LeewayHertz. With the experience of building over 100+ platforms for startups and enterprise allows Akash to rapidly architect and design solutions that are scalable and beautiful.
Akash's ability to build enterprise-grade technology solutions has attracted over 30 Fortune 500 companies, including Siemens, 3M, P&G and Hershey’s. Akash is an early adopter of new technology, a passionate technology enthusiast, and an investor in AI and IoT startups.

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