summary
- A currency is a payment form issued by the authorities of a jurisdiction that fulfills three functions: a unit of account, a value investment, and a medium of exchange.
- There are over 12,000 cryptocurrencies in the world, but they are not recognized by every state as an official means of payment, so they are not currencies but tokens.
- Tokens have value and serve different purposes, such as security tokens (like Bitcoin), stable tokens (like USDC), and utility tokens (like DFI).
- DFI is a utility token that enables financial products on the DeFiChain, among others.
- DFI can be bought on a crypto exchange, and its value is subject to fluctuations.
- DFI can be shipped worldwide cheaply and quickly on the internet, and the DeFiChain can process over 2000 transactions per second.
- The DeFiChain network consists of more than 9000 computers (nodes) that operate the DeFiChain bank and are rewarded in DFI.
- DeFiChain rewards its computer employees every 30 seconds with DFI, and new DFIs are constantly coming onto the market.
- DFI is necessary to use decentralized financial products on DeFiChain, to pay fees for shipping, and to pay for building a computer that works for the DeFiChain.
- DFI will be needed as a fee when DeFiChain talks to Bitcoin and Ethereum.
- In about 10 years, all 1.2 billion DFIs will have been paid out, after which there will be no more new ones, and they can only be traded thereafter.
