DNotes Launches Version 2.0, Cryptocurrency With Interest

March 21, 2018         By: Steven Anderson

We’ve seen a lot of different cryptocurrencies emerge over the years, ranging from the big names like bitcoin and Ethereum to the odd little offshoots like Dentacoin. From purpose-driven coins to outright scams, a wide range of options has emerged to populate this market. Now, one previous entry is getting a serious upgrade, as the folks behind DNotes dropped word to tell us about.

DNotes 2.0, as it’s known, just recently went into Alpha Pre-Release, and represents what the company behind it is calling “a significant upgrade of the original DNotes currency introduced in 2014.” Backed up by blockchain technology, DNotes 2.0 boasts a set of new features and capabilities. First among these is that DNotes will no longer use the “proof-of-work” concept, turning instead to “proof-of-stake” in a bid to keep mining operations from becoming centralized and previous stakeholders from having their influence reduced.

With the new system in place, current stakeholders will be able to use their wallets as nodes to support the overall DNotes network. With the staking system in place, the nodes’ payouts will be balanced according to current coin balances. Best of all, the currency will offer the Cryptocurrency Investment Savings Plan, which will offer interest of 0.5 percent every 30 days. That’s not much objectively, but given that Bank of America is offering a 12-month certificate of deposit at 0.08 percent, it’s comparatively attractive. Even its best CD rate is 0.8 percent, and that requires a 10-year CD to get.

For a cryptocurrency to offer an interest rate is an unusual development, but given that there are over 1,300 such offerings out there at last report, it’s not particularly surprising to see that some are resorting to unusual methods to draw in new users. People can only invest in so many crypto issues, after all, even when they’re inexpensive as so many are. You can still buy 1,000 dogecoin for $3.00, and it’s far from the only crypto that can be had dirt cheap.

A cryptocurrency with an interest plan may be a surprise, but it’s a safe bet that some others will follow suit before long. They’re going to have to do something to get people interested in a crowd full of competitors.