District 0x describes itself as 'a network of decentralized markets and communities. Create, operate, and govern. Powered by Ethereum, Aragon, and IPFS.'

I've researched a lot of different cryptocurrencies and I can't get past how interesting this one looks to me. The days of buying cryptocurrencies that compete with Bitcoin are over in my opinion. When I hunt for crypto, I look for new platforms with solid development and marketing teams and ground-breaking ideas. District 0x (DNT) qualified so I decided to investigate further.

Here are some of the best resources I found to research this cryptocurrency:

Website - https://district0x.io/

Whitepaper - https://district0x.io/docs/district0x-whitepaper.pdf

Reddit - https://www.reddit.com/r/district0x/

Coindesk article: https://www.coindesk.com/dao-marketplace-district0x-raises-9-million-token-sale/

Here's a quick summary from the CoinDesk article entitled 'DAO Marketplace District0x Raises $9 Million in Token Sale'

A blockchain project boasting support from industry venture firms Boost VC and CoinFund has completed an initial coin offering (ICO), netting around $9 million in ether.

Called District0x, the project aims to use ethereum smart contracts to power decentralized marketplaces and community applications. Offering 600 million District0x Network Tokens (DNT) to buyers, the ICO started on July 18 and ended on August 1.

According to data from the ethereum blockchain, a total of 2,394 participants contributed 43,170 ether to the project, an amount that was slightly less than a tentative cap of $10 million imposed by project creators.

What are districts and what is the potential here?

According to their whitepaper they are:

d0xINFRA provides districts with the core functionalities required to operate an online
market or community. Namely, the ability for users to post listings, filter and search
through listings, rank peers and amass reputation, and send invoices and collect
payments. The d0xINFRA framework is designed to be open and extendable, allowing
districts to be customized and granted additional functionality through the use of auxiliary
modules.

Ok so to simplify we are talking platforms like an ebay, an amazon, a craigslist. This is revolutionary because all of these new platforms would be using cryptocurrency, specifically DNT or sidechain tokens as a medium of exchange.

Techblogger Wrap Up

This idea intrigues me and when I like something but I don't completely understand it I research it in more depth. I've come to the conclusion that although I don't completely understand how this system will work, it makes sense from a technological perspective and this type of platform is exactly what people who value decentralization want and need.

I've made a small investment into this cryptocurrency and will be following this project extremely closely. It's new, its revolutionary and it has major potential as the latest and greatest decentralized platform to have ever been created.

Please leave thoughts and comments below!

Thanks for reading.

Sources:

District 0x - Website / Whitepaper

DAO Marketplace District0x Raises $9 Million in Token Sale - CoinTelegraph