What is Drep [new] DREP | What is DREP token

What is Drep [new] DREP | What is DREP token

DREP is committed to building “connectors” and “toolboxes" based on blockchain technology, and aims to provide solutions that combine ease of use, flexibility, and frictionless integration. Based on DREP Chain, DREP ID, and DREP SDK, DApp teams are able to release multi-public-chain asset versions, built-in wallets, and asset trading platforms with one-click. DREP proposes the concept of Smart Pipeline technology, which reportedly improves data processing ability, similar to a layer2 solution with strong scalability and zero gas consumption. DREP upgrades advanced technology solutions into APIs and Plug-ins, thus lowering blockchain learning costs, development difficulty, and complexity on the application/enterprise side. DREP adopts a Schnorr Multi-Signature Algorithm that is based on the Secp256k1 elliptic curve to improve network efficiency and reduce transmission overheads. What is Drep [new] DREP | What is DREP token

In this article, we'll discuss information about the DREP project and DREP token

What is Drep?

DREP (/ˈdrip/, /drep/) is committed to building “connectors” and “toolkits” based on blockchain technology, providing solutions that combine ease of use, flexibility and frictionless integration. Based on DREP Chain, DREP ID, DREP Reputation Protocol and DREP SDK, DREP aims to build an open data ecosystem on chain, opening up segregated user groups and data silos across multiple chains.Teams building DApps will be able to easily integrate multiple public-chain versions of DApps, built-in wallets and asset trading platforms with one-click using the DREP Chain, DREP Decentralized ID, DREP software development kit (SDK) and DREP Client.

So, DREP strives to tackle three particular issues:

  1. Inadequate public chain performance and poor developer experience;
  2. Segregated public chain ecosystems and small user bases;
  3. A mismatch between blockchain technology and enterprise needs

DREP is a blockchain-based cryptocurrency, A unit of the currency is called a drep.

The utility scenarios of DREP tokens in the DREP ecosystem mainly include:

• Network Gas;

• The only means of payment for cross-chain transactions between sub-chains (DApps);

• Payment currency for all data relevant transactions in the network;

• Major currency used for presales of assets in the DREP SDK and the application of Launchpad;

• Mortgage assets in the DREP Client for credit commission and structured financial product transactions;

• The only in-game payment method and trading assets in future DREP games. DREP issued a total of 10 billion tokens.


How Does It Work

DREP provides the following technical solutions:

• The DREP Chain is a high-performance public chain fully developed by the DREP team. It is compatible with Smart Contracts in EVM and WASM formats with a dual-layer structure consisting of a root chain and sub-chains.

• The Smart Pipeline proposed by the DREP team is a “pipeline” for data transmission and for transferring data between the blockchain virtual machine and external applications. It is able to achieve high efficiency, zero gas consumption and strong scalability without affecting security. These needs are not met with Smart Contracts.

• DREP adopts a Schnorr multi-signature algorithm based on Secp256k1 to improve network efficiency and reduce transmission overheads.

• DREP has designed a decentralized ID system based on HMAC (Hash Message Authentication Code) algorithm, forming a dual-layer system of master ID and multiple sub-IDs to achieve data connectivity and privacy protection. The DREP Client allows users to manage data and assets on centralized and decentralized platforms all in one place.

• To enhance data privacy protection, DREP uses homomorphic encryption to process users’ private information.

• To provide long-term value of DREP DID, DREP features a reputation system consisting of a general reputation protocol, a reputation pipeline interface, a reputation data on-chain and algorithm library, a reputation incentive mechanism, a reputation account management, a fake account identification mechanism and more.

• To lower the threshold of technical usage and cost of learning, DREP has developed API, Plug-in and SDKs for a number of differing verticals. With these toolkits, DApp R&D teams are able to release multi-public-chain asset versions, built-in wallets and asset trading platforms with one-click. Based on DREP ID, DApp R&D teams are also capable of acquiring more public chain users, transforming various digital asset holders into application users and creating Super DApps.

• DREP code style is Service-oriented programming, similar to Java’s Spring container development. In most blockchain project codes, the coupling between the modules is more severe. Using this approach, DREP allows the modules to be fully decoupled and the code can be easily refactored with clearer logic.

• The technical features of DREP BaaS (Blockchain as a Service) are as follows:

1

ImToken Swap Guide

1.Open the APP. Make sure you’ve selected the ETH wallet. Click on ‘Browser’ at the bottom of the page, and enter the address in the input box: http://swap.drep.org/. Or you could directly access the website by scanning the QR code below.

1

2

2.Click on ‘Confirm’ to allow access to third-party websites.

3

3.Once you enter the page, your imToken will be automatically connected. If it is not automatically connected, click on ‘Connect to Your Wallet’ to connect your imToken.

4

4.After connecting to your wallet, click on ‘Authorize’ to continue. (The authorization will only need to be conducted once if you don’t switch your wallet. No further authorization will be needed for the following process.)

5

5.Confirm your authorization on imToken.

6

6.Swap your DREP! All of the old DREP tokens in your wallet will be upgraded to new DREP tokens at one time. After confirming your balance on this page, click on ‘Swap’ to begin your upgrade.

Note:

Only the old DREP tokens of the address: 0x22de9912cd3d74953b1cd1f250b825133cc2c1b3 can be swapped to the new DREP.

7

7.Confirm your transaction on imToken.

8

8.Congratulations! After the on-chain transaction is confirmed, your swap will be completed at once. You can add tokens to the wallet to view your balance.

New DREP Contract address: 0x3ab6ed69ef663bd986ee59205ccad8a20f98b4c2

Click on [Wallet]. Click on [+] on the right of your assets. Click on the empty search box on the top. In the new page, paste the new DREP contract address and search. Click on [+] on the right and add your DREP token.

9

Metamask Swap Guide

1.Go to the website http://swap.drep.org/

2.Click on ‘Connect to Your Wallet’ to connect your Metamask

1

3.After connecting, make sure your wallet has been switched to ETH Main network. Click on ‘Authorize’ to continue. (The authorization only needs to be conducted once if you don’t switch your wallet. No further authorization will be needed for your swap.)

2

4.Confirm your authorization on Metamask.

3

5.Upgrade your DREP! All of the old DREP tokens in your wallet will be upgraded to new DREP tokens at one time. After confirming your balance on this page, click on ‘Swap’ to begin your upgrade.

Note:

Only the old DREP tokens of the address: 0x22de9912cd3d74953b1cd1f250b825133cc2c1b3 can be swapped to the new DREP.

4

6.Confirm your transaction on Metamask.

5

7.Congratulations! After the on-chain transaction is confirmed, your swap will be completed at once. You can add tokens to the wallet to view your balance.

New DREP Contract address:0x3ab6ed69ef663bd986ee59205ccad8a20f98b4c2

Click on [Add Token] at the bottom of Metamask. Switch to Custom Token in the new page. Enter the new DREP Contract address and click on [Next] to add.

6

How and Where to Buy DREP?

DREP has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin, ETH, USDT, BNB from any large exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy DREP

You will have to first buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

We will use Binance Exchange here as it is one of the largest crypto exchanges that accept fiat deposits.

Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.

Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)...

SIGN UP ON BINANCE

Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)

After the deposit is confirmed you may then purchase DREP from the exchange.

The top exchange for trading in DREP token is currently Binance, Gate.io, and AscendEX (Bitmax)

Apart from the exchange(s) above, there are a few popular crypto exchanges where they have decent daily trading volumes and a huge user base. This will ensure you will be able to sell your coins at any time and the fees will usually be lower. It is suggested that you also register on these exchanges since once DREP gets listed there it will attract a large amount of trading volumes from the users there, that means you will be having some great trading opportunities!

Top exchanges for token-coin trading. Follow instructions and make unlimited money

https://www.binance.comhttps://www.bittrex.comhttps://www.poloniex.comhttps://www.bitfinex.comhttps://www.huobi.comhttps://www.mxc.aihttps://www.probit.comhttps://www.gate.iohttps://www.coinbase.com

Find more information DREP

WebsiteExplorerSocial ChannelSocial Channel 2DocumentationCoinmarketcap

🔺DISCLAIMER: The Information in the post is my OPINION and not financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.

🔥 If you're a beginner. I believe the article below will be useful to you

⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐

I hope this post will help you. Don't forget to leave a like, comment and sharing it with others. Thank you!

bitcoin crypto drep

Bootstrap 5 Complete Course with Examples

Bootstrap 5 Tutorial - Bootstrap 5 Crash Course for Beginners

Nest.JS Tutorial for Beginners

Hello Vue 3: A First Look at Vue 3 and the Composition API

Building a simple Applications with Vue 3

Deno Crash Course: Explore Deno and Create a full REST API with Deno

How to Build a Real-time Chat App with Deno and WebSockets

Convert HTML to Markdown Online

HTML entity encoder decoder Online

Local Bitcoin Clone launch a trending business in crypto platform

Buy and Sell Bitcoins locally and without any centralized exchange, either for hard cash or other Altcoins with Local Bitcoins. With well-rounded features such as multiple coin support, wallet creation, escrow support to provide amiable service for both buyer and seller. Create your own Bitcoin Advertisement to sell your coins faster than ever.

As Bitcoin Grows, So Do Crypto Scams

The amount that Bitcoin has grown in recent years is staggering. In around a decade or so, it has gone from a relatively unknown asset to an incredibly popular and valuable cryptocurrency that has made front-page headlines across the world. It has shown a lot of promise and potential in both finance and tech.

The Bitcoin Gospel | Full Documentary On Cryptocurrencies | Crypto Money | Digital Cash | Bitcoins

Full documentary on crypto currencies and digital cash (BITCOIN, etc.): The Bitcoin Gospel - Is bitcoin the blueprint for a bankless currency, or the biggest pyramid scheme ever?

The Rise and Rise of Bitcoin | DOCUMENTARY | Bitcoins | Blockchain | Crypto News | Digital Cash

Crypto Currency Documentary: The Rise and Rise of Bitcoin - A computer programmer becomes fascinated with the digital currency Bitcoin, and through his involvement in the Bitcoin community, we learn about the impending global impact of this amazing new technology.

Banking on Bitcoin | BITCOIN DOCUMENTARY | Crypto News | Blockchain | Digital Money | Capitalism

Crypto Documentary: Banking on Bitcoin - Bitcoin is the most disruptive invention since the Internet, and now an ideological battle is underway between fringe utopists and mainstream capitalism. The film shows the players who are defining how this technology will shape our lives.