Cryptocurrency Made Easy - Divi coin review
By Rafał - 2020-03-12
What is Divi?
Divi is a blockchain-based project and cryptocurrency smart wallet that aims to deliver the true vision introduced by Satochi Nakamoto in 2009: Offer a new decentralized private payment solution while making crypto less demanding for the majority of common investors and for the general public across the world. The Divi team has introduced several ways to increase the interest in participating in the project including MOCCI solutions and lottery rewards in an easy-to-use and intuitive wallet interface.
Divi Coin details
|Consensus Algorithm:||Proof of Stake|
|Block Time:||60 sec|
|Max supply:||No limit set, controlled by Governance Vote|
|Minimum Coins for POS:||10 000 DIVI|
|Masternode Collateral:||5 Tiers*|
|Reward Scheme:||45% MN/38% POS (rest treasury and charity)|
*Divi masternode tiers
|MN Type||DIVI Required||Block Win|
|Silver||300,000 DIVI||+5% better than Copper|
|Gold||1,000,000 DIVI||+10% better than Copper|
|Platinum||3,000,000 DIVI||+15% better than Copper|
|Diamond||10,000,000 DIVI||+20% better than Copper|
The Divi project (formerly Divx) was originally launched in the second quarter of 2017 with an ICO lasting from August 27 to November 24, 2017 at the price of around 0,57$ per coin. At start, the DIVX currency was based on the Ethereum blockchain as an ERC-20 token in order to prepare the main launch of the Divi blockchain (The old contract address can be seen here: https://etherscan.io/address/0x13f11c9905a08ca76e3e853be63d4f0944326c72).
On September 27, 2018, the official Divi blockchain was launched and minted for the first time. The transition was ensured smoothly with a swap at the rate of 1 DIVX for 100 DIVI to prepare for the new start and the new rewards. In short, the DIVI technology is an innovative set of services also known as a "Smart Wallet". This solution allows individuals to make private and instant transactions with usernames instead of difficult to-recall crypto addresses while building a passive income directly from built-in masternode solutions integrated in the wallet.
Divi Features and Masternodes innovation
Since its inception, the Divi team has mainly focused all its efforts to improve the definition of crypto wallets and how investors can benefit from masternode solutions easily in a few clicks to build a passive income. All the major features integrated in the Divi are associated with masternodes management and passive income management. The whole ecosystem is based on the Divi protocol which adds a new layer of simplicity and convenience for all the investors. Divi’s vision is to simplify all the management of assets in a few clicks and with a single interface , allowing even non-technical persons to enter in the crypto currency markets and the Divi community.
MOCCI solution (Masternode One-Click Cloud Installer)
Masternode One Click Cloud Installer is a solution provided for users who don’t want to run a masternode at home or with third-party services such as Amazon, Microsoft, and others. In order to satisfy the demand, the Divi team purchases servers’ space and set up the back end of this in advance, to make a fast and seamless user experience. Payments for the service are made by the users with the native currency DIVI directly inside the wallets. This system is only available on desktop version for now but, as specified on the roadmap, the team plans to release mobile versions as soon as possible with MOCCI mobile integrated with it.
The masternode ecosystem implemented within the Divi project introduces a multi-tiered system to give a chance to everyone to participate in the project and build a passive income. The multi-tiered system is the solution to avoid shared-masternodes as each investor has the possibility to create its own personal node regardless of its financial capabilities. Any crypto investor can thus build a passive income in the long run. Masternodes are often left running 24/7 and the coins they commit remain in their own wallet, within their control, but can’t be spent as they are used to fund the masternode. These nodes are part of the Divi Network and they communicate with each other to maintain a copy of the blockchain and process transactions. Masternode owners choose their level of commitment to support this network and are paid based on that effort.
Divi Multi-Tiered Masternodes
The Divi system has five options for participation, depending on the amount of commitment to the network that the owner wishes:
- Diamond (10,000,000 DIVI): +20% chance
- Platinum (3,000,000 DIVI): +15% chance
- Gold (1,000,000 DIVI): +10% chance
- Silver (300,000 DIVI): +5% chance
- Copper (100,000 DIVI): No associated %
The different chances of earning coins improves proportionally with the number of coins held in masternodes. For example, the Silver masternode is 5% more likely to win a block than three Coppers. In the same way, Gold is 10% more likely to win the reward than 100 other Coppers. However, holding extra coins in a specific node tier gives no extra benefits. Holding a copper with 150,000 DIVI gives the same reward as 100,000 thus, it is really important to switch to the higher tier once the minimum amount is reached. With Divi, masternode owners are rewarded in the long-term. Anyone can start with the lowest tier (Copper) and with time, earn enough DIVI coins to switch to the next one to receive more rewards. This system incentives investors to actively participate in the Divi ecosystem and in the masternode network and offers some benefits:
- Increase stakeholding with time, creating scarcity.
- Discourages holding massive numbers of masternodes by single entities. A higher tier is a better solution to increase the passive income.
- Gamifies proof of stake in a way that appeals to many demographics, who will want to save their DIVI to reach the next layer. Any investor across the world can chose its own layer depending on its possibilities. This is a major advantage over the majority of competitors only offering a single tier solution.
MOCCI associated costs
The cost associated with the setup of a node is based at 10-15$ by month. The team pays Digital Ocean $10/month and the $5 is left over to cover overhead and further maintenance of the server used to host investor’s node. While all the nodes can run with a similar amount of memory and CPU power on a server, Gold, Platinum, and Diamond nodes are used to carry and process metadata throughout the network. This upgrade, however, requires more memory to maintain optimal throughput and scalability and thus is a bit more expensive. Investors can use DIVI or existing or new PayPal account or even a credit or debit card to subscribe to a new masternode hosting offer.
Divi Extra Bonus, lottery blocks
Before introducing the concept of Lottery blocks, it is mandatory to explain several notions associated with this system. Lottery in Divi is a process of selecting 11 winners in a pseudo-random way at the end of every lottery cycle. Lottery winners are determined in every block and differs from the real-world lottery where random numbers are generated. Lottery reward is the number of coins that are generated in every block and is added to the lottery pool. Finally, lottery cycle is how many blocks need to be minted to trigger new lottery.
In Divi, lottery block payouts happen once per week. 10,000 DIVI minimum must be in a staked wallet to be eligible to win a lottery block (this is mandatory to be eligible). Every time an investor wins a stake, he gets one lottery ticket. The allocation for the 11 winners is divided in 2 parts:
- One big lottery block winner each week, awarding 252,000 DIVI (2,5 Copper Nodes equivalent)
- Ten smaller winners awarded 25,200 DIVI (¼ Copper nodes equivalent)
More importantly, coins locked in running masternodes aren’t eligible and neither are coins held on an exchange.
The Divi team has implemented POS to complete the set of possibilities to build a passive income. In order to earn staking rewards, investor’s node must be funded with at least 10,000 DIVI, be unlocked for staking and have a constant connection to the network. Therefore, the wallet must remain open all the time to receive the rewards as Divi is using standard Proof-of-Stake system. It is important to note that it takes 7 days to be fully staking on the network.
Divi’s development team have on average 20+ years of experience building and delivering world-class software on time and on budget. The team is thus specialized and experienced in delivering what users really need for developing their assets and their passive income.
Chief Executive Offcier at the Divi Project
Chief Technology Officer at the Divi Project
Chief Information Officer at The Divi Project
Geoff McCabe CEO and co-founder has a master’s degree in physics and has led three multi-million-dollar businesses to success before co-founding Divi in 2017. Michael Greenwood, Co-Founder and CTO of Divi , started at Microsoft as a senior developer at 19, and rose to become a principal UX designer for projects such as Origami, Xbox, SQL Server, Windows 7, Windows 8, 8.1, and Windows 10 later.
The group of advisors working with the Divi team includes former Yahoo Chief Solutions Officer Tim Sanders and noted futurist Ramez Naam. According to Naam, “Divi is the future. It’s simple enough for everyone. It’s cryptocurrency’s Netscape, iPhone, or Tesla moment.”
Other well-known advisers include former Coin Telegraph CEO Toni Lane Casserly and Doug Scott, former President of Ogilvy Entertainment. Top blockchain architect and former Google software developer Daniel Kraft has also joined as a technical advisor. Daniel was the lead developer for Namecoin and is now CTO of Xaya. He is one of the world’s leading authorities on the “Names and Metadata” blockchain technology and will work closely with Divi needs to bring the best user experience in that field.
The CEO of The Divi Project is a Costa Rica Resident, and the team members live in various countries around the world, including Australia, U.S.A., Belarus, Ukraine. During the Divi Project’s ICO, U.S. citizens were excluded from participation. A strict KYC/AML was followed during the coin swap process from the DIVX ERC20 Token to the new DIVI coin.
Divi core team is thriving to constantly improve the possibilities with the DIVI currency and the functionalities offered to investors and masternode owners. The official updated roadmap can be found here https://diviproject.org/roadmap. The main efforts will be focused on finishing the transactions tools allowing to send through mails or phone number, erasing definitively the need to remember standard crypto addresses. Furthermore, the ongoing implementation of SegWit and Atomic swaps (BTC/DIVI) will bring more technical features to the Divi ecosystem and more possibilities for investors to manage their passive income.
A major milestone with DIVI 2.0
Divi project currently offers some interesting possibilities associated with masternodes to build a passive income but remains available only to desktop users. The team is actively working on bringing Divi 2.0, a new generation all-in-one wallet planned to be released in the coming months. Divi 2.0 will be pushed on mobile versions (Android and iOS) with all the functionalities already implemented in the desktop version.
Divi investors and users will be able to send money around the globe in a swipe and buy, send, receive and exchange DIVI, BTC & USD or even withdraw directly to a bank account. Mobile versions will integrate the possibility to pay directly for services in a simple way. Finally, the wallets 2.0 will be intuitive tools to manage the passive income wherever you are and whenever you want. This release will bring MOCCI mobile, staking and lottery rewards directly in users’ hands on their phones, erasing the need to keep the computer open all the day.
DIVI "Smart Wallet"
With the all-in-one Divi wallet, investors have the possibility to use multiple functionalities which makes it easier and more user-friendly to use. The team has created a new type of blockchain ecosystem that stores names and meta-data along with transactions. A user photo, email, phone number, and other details can be associated with an account and thus differentiate a user from another. For now, Divi remains a standard, well-thought wallet that might take the lead if the team realizes all their objectives to improve the wallet including the ability to have “Pockets” to differentiate the business and have different privacy settings associated.
Thus, investors, with future planned updates, will also be able to send coins just by knowing the mail or phone number which greatly simplify the whole standard process to input manually a receiving address or scan a QR-code. The simplification of the transactions system is a great addition to help reaching mass adoption, one of the major goals of the Divi team. This feature will allow to introduce the DIVI currency in various business sectors without extra knowledge needed as the system can easily replace the existing one. This type of utilization will be really simplified in the future with the equivalent values in 150 currencies directly available from the wallet interface. The control of funds can be done easily in a few seconds. Businesses and investors will be able to instantly switch views to know the value of their holdings in almost any local currency. Finally, to give investors the maximum level of security to secure their funds, the wallet is multisig capable and requires 2 or more people to verify transactions and create them on the network. This last feature greatly improves the stability of the ecosystem/network and ensure the integrity of the transaction system.
Where to buy DIVI?
DIVI is currently traded on various but mostly minor exchanges, and a legal opinion analysis was obtained from a U.S. based law firm stating that DIVI is not a security token because of its utility, governance, and other features. DIVI is currently available on 4 exchanges: