What Is the Domineum Token?
DMN, the token of Domineum, is the underlying payment mechanism for all products and services offered by Domineum.
Enabled by an automated exchange which manages frictionless trusted transfers of fiat currency into Domineum token, within the secured backend of the Domineum system.
DMN, Domineum Token, is a utility token and represents future access to Domineum products and services.
why blockchain?
What Is Blockchain Technology?
Blockchain technology can be described as a digital distributed ledger, spread across a public or private network of computers (nodes), which maintain a single version of truth for a set of transactional records.
In other words, every node in the network maintains an identical copy of the blockchain and all transactions it contains (the ledger).
How Does Blockchain Technology Work?
When two parties agree to a transaction (for example, to buy/sell Bitcoin), the details are captured in a block that is then verified by each party through use of a digital signature. The block is then cryptographically hashed creating a unique, time stamped ‘block-fingerprint’.
As transactions occur in Blockchain technology, new blocks are generated and linked to each other based on their block-fingerprints. Consensus mechanisms, which are agreed upon network protocols, then determine the linkage between individual blocks that constitute the blockchain.
Domineum utilizes this fundamental nature of blockchain technology to enable digitization of paper based mortgage titles, allowing real estate to be assigned and transferred electronically.