In recent years, the concept of decentralization and online marketplaces has become well-established. Companies such as Amazon, Uber, and Airbnb have become immensely popular and achieved massive valuations, causing disruption in a number of industries. These companies have definitely provided lower prices along with improved user experience. However, platform users typically don’t have a say-so when it comes to the evolution of these platforms along with their respective costs.

Typically, only leaders at the top are able to make important decisions regarding fee structures, user experience, and usage. The opinions of the users often go neglected. Therefore, they have to rely on centrally controlled platforms that don’t allow them to participate in the value creation derived from their use. One cryptocurrency project by the name District0x is trying to solve these problems through the introduction of DAOs (decentralized autonomous organizations). Let’s take a deep dive into District0x.

What is District0x?

District0x is an Ethereum-based decentralized community of marketplaces and organizations referred to as “Districts”. The name “District0x” is derived from two things; “District” and “0x.” Districts in this case represent the marketplaces and communities that serve as the foundation of the network. The 0x prefix at the end is a nod to the Ethereum network as these two symbols make up all Ethereum addresses. If you are familiar with computer science, then you are well aware that the prefix “0x” is also used at the beginning of all hash values.

The main goal of District0x is to establish a thriving community of marketplaces such as Uber and Airbnb, but without the centralized economic model behind them. It does so by introducing a number of tools that align decision making and incentives with the market participants themselves. This way, District0x solves some of the inefficiencies and coordination issues that plague a majority of community marketplaces. The end goal is to enable the existence of a self-sustaining economy that can grow without the need for central authority.

Key Features

Some of the key features of District0x include:

• District0x is a blockchain-based platform that allows users to both construct and manage decentralized markets and communities referred to as Districts.
• The District0x platform provides users with all the tools and functionalities that are required to develop and run an online market and community. Some of the tools include posting listings and making payments.
• Every District in the District0x ecosystem is governed by a decentralized snapshot voting mechanism
• District0x’s native crypto DNT enables participants acquire voting rights within every single District.

DNT Coin

DNT coin, otherwise known as the District Network Token, is District0x’s native ERC20 cryptocurrency. It was initially created to facilitate coordination and participation in the development of the District0x network. The team behind District0x created it with a vision of it being a platform that would be fully owned and governed by its users. Therefore, users would require DNT crypto to gain influence over marketplaces that would be deployed on the platform.

Additionally, users can use DNT to acquire DVT which represents voting shares within particular marketplaces. Through them, users can have a say in developing markets being built on the platform. As a user you can stake DNT tokens to determine which districts are permitted to operate on the network.

District0x and Transparency

District0x is a community-centric project. Therefore, the team behind District0x believes that transparency is a very key factor. For this reason, they have decided to be as transparent as possible, offering as much information as possible regarding District0x’ network progression and the usage of contributions from supporters. All information that is available include:

Project Roadmap.District0x has made a public roadmap that shares all the planned key milestones for the project.

Wages Paid. District0x has made all the wages that they pay to service providers public for anyone to access and see.

Multisig Wallet. All District0x contributions are stored in a multisig wallet where anyone and everyone can see them.

Github Repository. The District0x project is open source. It’s a project that’s under the Eclipse Public License.

Powered by District0x

The District0x network is made up of Districts. These Districts exist as decentralized entities that are built upon the d0Xinfra framework. Some examples of Districts that are powered by District0x include:

Ethlance.Ethlance is the first District within the District0x platform. It’s a freelance job market that allows both employers and employees to create profiles where they can both post and apply for jobs.

Name Bazaar. This is the second District to ever be deployed on the District0x network. It is a P2P marketplace for domain names. Sellers have the option of setting their prices in ETH or any other ERC20 token.

Meme Factory.The third District deployed on District0x is Meme Factory. Just as its name suggests, this district will allow participants to mint and sell their own tokenized memes. Meme Factory is about to relaunch on Polygon

Roadmap

If you are familiar with the District0x roadmap, then you are aware that the project still has a long way to go. At the moment, there exists three Districts on the District0x network. They include Meme Factory, Name Bazaar, and Ethlance. These three Districts were originally outlined in the original District0x whitepaper. So far, there are over 200 district proposals on the district0x GitHub currently available to be built out by either the core team or any other development studio, alluding to the fact that many people see great potential in the platform. While no specific dates have been provided for future Districts to be launched, one can only imagine that the future looks bright for District0x.

Where can I buy District0x with crypto or exchange ETH to DNT?

If you are asking yourself, “where can I buy District0x with ?” then you came to the right place. Through JansWap, you can easily conduct your DNT exchange without the hassles of registering or giving out personal information. Here’s a step-by-step procedure on how to do it:

• Step 1. Launch JansWap on your computer browser.
• Step 2. In the “select pair” tab choose ETH as the coin that you wish to exchange to receive XLM.
• Step 3. In the section “get up to” enter DNT.
• Step 4. After you’ve entered these details along with the correct amount, JansWap will provide you with a number of DNT exchange offers from the exchange platforms it has partnered with.
• Step 5. Go through the different offers and select the one that you want.
• Step 6. Once you’ve narrowed down an offer you want, select it and click on “exchange” to proceed.
• Step 7. Do provide a wallet address to receive your DNT. You may also provide additional details if you so wish. Click on “proceed to exchange” to initiate the process.
• Step 8. Once the transaction begins, it may take a while before your coins show up in your wallet. Just give it a few minutes.
• Step 9. The process will finalize and you will receive your coins at your wallet address. After this, just take a moment to rate the experience and leave behind an honest review.

District0x Wallets

Currently, there is a huge number of wallets that can hold DNT available in the market. Every wallet comes with unique features. Therefore, it’s a little hard to recommend one wallet that can cover all your needs. If you want a wallet that you can use regularly, we suggest using a mobile or online wallet. If you want a wallet to hold DNT for the long term, then we recommend a hardware wallet. With that said, below are the best District0x wallets in every wallet category.

• Desktop Wallets: Bitcoin Knots Wallet, InflationCoin Wallet
• Mobile Wallets: Coinbank, Coinbase, InflationCoin Wallet
• Online Wallets: Coinbase Wallet
• Hardware Wallets: Ledger Nano S and X, Trezor Model T hardware, CoolWallet S