How It Works
DTTs can be held in the ParallelWallet, a digital wallet developed by Digital Transaction, as well as any ERC-20 compatible wallets.
The ParallelChain™ Mainchain is a public ledger designed to facilitate trade transactions. It can interact seamlessly with other blockchain platforms (e.g. Ethereum and Hyperledger), significantly expanding the trade ecosystem of DTT.
Gas is generated proportionately to the total number of DTTs held in the wallet. Gas can be used to pay for on-chain transactions, transaction fees and network fees, and will be automatically burnt once it has been spent.
The DTT Governing Council oversees the conduct and decisions that directly concern the DTT. The Council is responsible for maintaining the technology competitive advantage of the DTT project and maximize growth potential of the Token.
Redeem software licenses
Token holders can use DTTs as a native currency to redeem for licenses of any products and software developed by Digital Transaction. Redemption can be carried out at any time upon the purchase of DTTs.
Earn rewards for network maintenance
Token holders are able to stake, run and operate nodes as network maintainers and be rewarded with DTTs for their help in decentralizing and enhancing the network. Community members can apply to become one of three node tiers: Authority Nodes, Validator Nodes and Support Nodes.
Influence key decisions
Members of the DTT community can participate in decision-making processes, such as propose changes to the network, cast votes to decide which proposals the Council should review, and even nominate candidates to join the Council.
Frequently Asked Questions
Is DTT an ERC-20 token?
Yes. DTTs can be held in any ERC-20 compatible wallet or in Digital Transaction’s native ParallelWallet.
Which currency can I use to exchange DTTs for?
You can exchange DTTs in Euro (EUR) and Singapore Dollar (SGD) for Fiat, or in Bitcoin (BTC) for cryptocurrency.
How much DTTs do I have to own in order to generate Gas?
A minimum amount of 100 DTTs needs to held in your ParallelWallet in order to generate Gas.
Gas is produced at 100X the amount of DTTs held and is replenished to the full amount every 24 hours. For example, holding 100 DTTs will generate 10,000 Gas.
How does a DTT Governing Council Member get elected?
Members of the DTT Governing Council are elected by a two-thirds majoritycommunity vote and are appointed by Digital Transaction’s Board of Directors.
The term of an appointed member is 2 years, and membership can be renewed upon approval by the Board for no more than 3 consecutive terms. At the beginning of the term of office, a Council member will receive a remuneration package of 1,000,000 DTTs.
What are the duties of a Governing Council Member?
The duties of a Governing Council Member consists of, but are not limited to, the following:
• Run an instance of the Auditor Node (highest level of node), whose responsibilities include performing secondary audits on transactions and applying rewards and penalties to node operators.
• Review and cast a Council Vote on major decisions related to the DTT
What are the differences between the three node tiers in the DTT Community?
• Authority Nodes: store the ledger history of the whole network by running a full node of the Mainchain, they are the only nodes with the ability to pack blocks on the Mainchain. There can only be 120 existing Authority Nodes.
• Validator Nodes: help keep the Mainchain distributed by querying full nodes for information on a regular basis, and validate transactions that are delegated to them by Authority Nodes. There can only be 600 existing Validator Nodes.
• Support Nodes: store the block headers of the Mainchain like Validator Nodes. They represent the full decentralization of the Mainchain as the number of Support Nodes that can exist is unlimited.