Delos, created to support the digital representations of any tokenized asset, is a build in token to be used on the AiBlocks network. Its name and features are customisable. It can be used for any sort of representation with a set ruling during the creation of contracts. In any circumstance, every account should hold a little bit of Delos in order to facilitate any transactions. Delos' requirement is considerably low by nature on the AiBlocks network. It is not too complicated to explain as per the explanations below.
What is Delos
Delos emerge as the fundamental piece to the AiBlocks feature. The reason is because AiBlocks’s design of the ledger system. To put it simply, it is pretty easy to use.
The idea of this came about because we want to create something to stop spammers of the system to take advantage of the system without losing any sort of stake. With this in place, we would be able to maintain the system for its intended use and keep it away from network hoggers. AiBlocks is created to ensure transactions are fast & efficient.
Here’s how we are doing it. By imposing a minimum balance for all account holders, charging transaction fees are the ways we can try to deter away the bad actors. As of today, we are imposing a minimum of 0.001 Delos per account and a minimum per transaction fee of 0.0001 Delos. While this is small enough for a standard user to afford, these deterrent costs will affect in a big way, to those that want to build multiple transactions, to clog up network traffic.
AiBlocks will use its native currency for all transactions instead of other national currencies. The reason why we are doing this is because we want the system to be fair for everyone across the world. For example, if we were to use the British pound as a standard payment currency, then there will be fluctuations for everyone else in the world that is not using the GBP and it only benefits people from the UK. Hence, by setting it on Delos, everything else will be standardised. Delos will ease the movement of money across our network as well, which is a natural byproduct of our network.
The Delos supply
Delos cannot be mined or awarded by staking. It is purely a token, set in the beginning by us. Currently, we have 100 million Delos created on the AiBlocks network during the creation of it.
Over time, Delos will not be added or decreased anytime soon for now as we believe there are more than enough going around. As of today, there are 20 million Delos out there in the market, with no more to be created. AiBlocks development team are retaining 80 million Delos as of now to supplement the network development in the future. Over the next few years, we will be releasing more and more Delos to fund our growth and expansion of AiBlocks to make it a more sustainable and stable network.
How to buy Delos
Delos will be available on the Ai exchange from 2021/01/01. You can purchase them using multiple cryptocurrencies like BTC, ETH & USDT. Do note that in order to use AiBlocks, you need a little bit of Delos. While the price of Delos usage is fixed on our network, the price of Delos versus the open market like BTC, ETH or USDT may fluctuate due to market conditions. Investing in cryptocurrency is volatile and risky.