Divi is a blockchain project launched in January 2017 with the purpose of bringing cryptocurrencies to ordinary users and gaining mass adoption through a peer-to-peer decentralized marketplace. In September 2018, its proof-of-stake blockchain was launched and its entire ecosystem was migrated to it by January 2019. It was created to solve the problems proper to Bitcoin such as slowness, expensiveness, hardness in using and understanding. The team makes every effort to make it user-friendly as much as possible in order to exclude banks or governments as an intermediary.
The Divi team also intends to create the most democratic, flexible and technically advanced governance system to be fully managed by its community by votes within governance with several stages of control.
The Divi team has created an ecosystem where all transaction details like users’ photos, email addresses, and phone numbers, can be associated with their accounts. It stands apart from other blockchain projects because of some specific products that it has implemented so far. They are Smart Wallet, Multi-Coin System, One-Click Masternode System, Lottery Blocks, Crypto Banking, Atomic Swaps, Vaulting, Security by Design and micropayments.
The goal of making cryptocurrencies easy to use is achieved by Divi’s Smart Wallet and Masternode One-Click Cloud Installer (MOCCI). You can earn, store, exchange and transact digital money with just little technical knowledge. Among the advantages of the Smart Wallet are such options as addresses named by users, scheduled payouts, automatic division of payments and multiple signatures to secure funds. The Smart Wallet provides Multi Coin System working not only with DIVI, but with Bitcoin, Bitcoin Cash, and Ethereum as well.
Users can install the Masternode System very easily and help to maintain the network. Those who put funds into masternodes have five variants of participation to choose from and get some newly created coins as a bonus. Besides, they have a chance to win in a lottery every week.
Atomic Swaps control users’ private keys and exclude the need for a third party during the exchange of DIVI to tokens operating on other blockchains. Divi’s Vaulting secures money by storing it in a time-locked account inaccessible by anyone, including the funder, until a predetermined date.
The Divi team managed to make micropayment system work having based it on the transaction volume, not the size (in bytes), thus keeping fees very low.
The DIVI Token
Initially, DIVX was created as an ERC-20 compatible exchange token. The ICO was held during September-November 2017. 80% of coins were distributed through the token sale, 8.33% were left to the founders and 10% were shared between influencers and spent on Mass Adoption Strategies. After Divi mainnet was launched on May 31st, 2018, users who had bought DIVX were able to swap it to the new token DIVI. When this process was finished, the remaining DIVX tokens were burnt. The team is targeting over 5 billion DIVI in total circulation because they are trying to build a blockchain capable of supporting 50 million users. At the time of writing, there are 915 masternodes in the system securing more than 10.5 million USD in value.
Divi’s equivalent to Bitcoin’s Proof of Work is Proof of Stake. New coins are not mined, instead, they are minted by those connected to the network via wallets’ stake, checking transactions and keeping the network secure. A new block is minted every minute and users receive their staking rewards.
The token was primarily created as a cryptocurrency, but it also has some utility functions. First, users are able to earn more by installing masternode software helping to maintain the network, update and secure the Divi blockchain. You get coins as payment for sharing your computer, electricity, and internet bandwidth with the network. Moreover, you can earn coins if you just keep them in your Divi staked wallet on your computer. One more function of DIVI coins is that you can use them to purchase custom names to use as your wallet addresses.
The importance of the DIVI token also comes from the possibility of spending it on other users’ items and services. There is a Divi-powered e-commerce solution Divi Mall that allows users to set up their own webshops, load in new products and accept DIVI right away.
At the time of writing, the Divi team consists of 12 members and 7 advisors. Geoff McCabe is the CEO and co-founder of the Divi Project located in Costa Rica. He has built several businesses in different areas including two companies generating more than 6 million USD per year. He specializes in Cryptocurrency, Virtual Reality, Website Design, and SEO.
The chief technology officer is Michael Greenwood, innovative design and development professional who worked for Microsoft, Creative Factor, Identity Mine, and Xevo Inc. The Chief Information Officer is Nick Saponaro, a keynote speaker in the blockchain industry.
Tim Sanders (former Yahoo Chief Solutions Officer) and Toni Lane Casserly (former Coin Telegraph CEO) are on the advisory board.