What is Divi
What Is Divi (DIVI)?
Divi is a blockchain project that aims to accelerate the adoption of digital currencies.
In line with its slogan of “crypto made easy,” Divi looks to make using cryptocurrencies a simple, frictionless task, helping to make digital assets more accessible to everyday users. Divi says that it can achieve this by moving the complicated intricacies of blockchain technology behind the scenes while presenting users with a simple intuitive user experience that is consistent across all Divi apps.
The combination of Divi's unique blockchain implementation and its intuitive Smart Wallet makes cryptocurrency transactions faster, cheaper, and easier to use, according to Divi — with an added focus on reducing the risk of user errors.
With its custom one-click masternode installer known as MOCCI, Divi users can set up a masternode to help secure the Divi ecosystem and participate in the transaction validation process and earn rewards while doing so.
Since its launch in September 2018, the Divi project has racked up a number of accolades — including winning third place in the 2018 "Token Tank" contest at World Crypto Con in Las Vegas, and as well as being rated the number number best masternode platform by Omni Analytics, behind Dash and PIVX.
Who Are the Founders of Divi?
The Divi founding team is composed of three experienced individuals: Geoff McCabe, Michael Greenwood and Nick Saponaro.
Geoff McCabe is Divi’s CEO. Geoff is a serial entrepreneur who played a major role in the success of several multi-million dollar businesses and is regularly seen in the media discussing cryptocurrencies and other financial technologies. He also works as the founder of LightningWorks, a blockchain and NFT-based media company that uses Divi as the primary payment method.
Michael Greenwood previously held the role of CTO at Divi, but left the platform in 2019 to pursue other ventures. He is an experienced software engineer that has held several prominent positions at major firms (including Microsoft) and has a wealth of experience in the fields of user experience (UX), artificial intelligence and security.
Lastly, Nick Saponaro was previously Divi's lead full-stack developer, but was promoted to CIO in January 2019 — a role he still holds to this day. Nick is responsible for managing Divi's blockchain and Smart Wallet development teams — applying his experience as a developer to help deliver on Divi’s strategic goals.
What Makes Divi Unique?
Divi describes itself as a "novel solution" designed to solve some of the "biggest and most lucrative problems in the crypto world". To this end, it has implemented several unique features that help set it apart from other projects.
These include the Divi Smart Wallet, a UX-focused wallet that supports multiple cryptocurrencies, including DIVI, Bitcoin (BTC), Bitcoin Cash (BCH) and Ethereum (ETH). This is designed to eliminate most user errors, making it suitable for even inexperienced crypto users.
In addition, Divi has made it easy for users to contribute to the security of the network and earn rewards for doing so with its one-click masternode setup tool. Divi masternodes are available in multiple tiers and have simple cost schedules. The top-end masternodes can generate a reported 25.8% APR.
Alternatively, users can simply stake their Divi to earn rewards that are paid out by the network. As of January 2021, a minimum of 10,000 Divi is required to earn staking rewards. Part of each block reward is also allocated to a lottery process, with the entire pot being distributed to one lucky staker each week.
Divi claims to boast ten times the transaction capacity of Bitcoin, but plans to extend this even further with its own version of Bitcoin's Lightning Network — using side channels to move crypto around near instantly.
Check out Litecoin (LTC) — a lightweight cryptocurrency designed for fast payments.
Check out BitMax — the most popular exchange for Divi tokens.
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How Many Divi (DIVI) Coins Are There in Circulation?
DIVI was initially launched as an ERC-20 token running on the Ethereum blockchain, but the platform moved to a native blockchain in September 2018. This process also saw 1 ERC-20 DIVI exchanged for 100 native DIVI tokens.
At genesis, Divi's proof-of-stake (POS) blockchain had 617,160,700 coins in circulation. This supply is incremented each year due to the number of new DIVI that is minted with each block. At first, this was set to 1,250 coins per block, but will be reduced by 100 coins per block until 2029 — at which point, just 250 DIVI will be minted per block.
Out of these block rewards, 45% is distributed to masternodes, 38% to DIVI stakers, 9% to the Divi development and marketing treasury, 7% to the exchange and liquidity treasury, and 1% to charity.
How Is the Divi Network Secured?
Divi is built around a custom-designed proof-of-stake (POS) blockchain that uses a combination of masternodes and individual staking to keep the network secure.
Beyond its standard network-based security, Divi also takes steps to ensure that users and their funds are kept secure at the individual wallet level. It achieves this by building several layers of security into its Smart Wallet product, including biometrics, multi-signature capabilities and a private key recovery service. Divi has hinted that they will also be looking to implement a time-lock feature, which will irreversibly lock coins for a specific period.
Divi's code has also been audited by third-party security professionals — ensuring there are no known vulnerabilities.
Where Can You Buy Divi (DIVI)?
DIVI is currently available to purchase and trade on a handful of exchange platforms — the most prominent of which are BitMax and Bithumb Global.
As of January 2021, DIVI can be traded against Bitcoin (BTC), Tether (USDT) and XRP. There are currently no direct DIVI to fiat trading pairs available.
To learn more about buying cryptocurrencies with fiat, click here.