What Is Deeper Network (DPR)?
DPR is the native token of the Deeper Network, which is a Polkadot-based peer-to-peer decentralized blockchain network. It consists of more than 80,000+ network nodes worldwide. The Deeper Network essentially aims to provide its users with a secure and private way to use the internet and become the gateway to Web 3.0. Security is the main goal of the Deeper Network. Besides, note that the Deeper Network price chart above shows the current and the previous DPR price.
The Deeper Network provides users with powerful 6-in-1 hardware products from the Deeper Connect series. These products essentially are adapters that feature the first decentralized VPN service (Decentralized Private Network) that protects the user’s network and devices and has blockchain mining capabilities at the same time. The devices run on AtomOS, which is Deeper’s network security OS.
Besides, since the Deeper Network utilizes the Decentralized Edge-Computing Platform (DEP), it allows users to develop and monitor dApps.
How Does the Deeper Network Function?
The Deeper Network employs two types of consensus mechanisms – the Next-gen Proof-of-Work (NPoW) and the Proof-of-Credit (PoCr).
The NPoW is a consensus mechanism, which is an improved version of PoW since it distributes rewards based on the actual work that miners contribute. This offers a more decentralized process and addresses the PoW’s energy-efficiency problems. The miners are rewarded with DPR tokens.
The PoCr allows users to share their unused bandwidth, this way generating passive income. The rewards they receive are based on their credit scores, which can increase with time or by staking DPR tokens.
Besides that, the network utilizes the Trident protocol, which is a network sharing protocol. While attempting to protect data transfer, increase bandwidth, and reduce congestion, the protocol enables communication between private and public networks.
Use Cases of DPR Tokens
DPR tokens are the driving force of the whole Deeper Network crypto project. Don't forget the check the DPR price on the Deeper Network price chart placed above. Overall, DPR tokens have various uses cases, including:
- Payment method. DPR tokens can be used to purchase bandwidth, security services, the Deeper Network nodes, ads on D-Ad platform, decentralized domain names, cryptographic keys for digital signatures, and so on. Besides, DPR tokens act as means of payment in dApps deployed on the Deeper Network.
- Staking. DPR tokens have to be staked in order to host dApps on the Deeper ecosystem. However, they can also be staked to receive staking rewards or increase user credit scores on the PoCr.
- Reward token. DPR tokens are rewarded to NPoW miners and PoCr bandwidth providers. Besides that, the Deeper Network has a referral program, which rewards users in DPR for inviting their friends to the network.
- Updates. DPR tokens can be used for AtomOS and threat database updates.
Tokenomics of DPR
The max supply of the Deeper Network coins is 10 billion. This means that the tokens are deflationary. Thus, it’s likely that the DPR price might increase once the circulating supply reaches the max supply.
Besides, in order to keep the DPR value from decreasing, the Deeper Network employs a buyback-and-burn mechanism. Essentially, it buys tokens from the circulating supply and immediately burns them. Additionally, the Deeper Network uses unsold tokens in various community projects like mining pools or bounty programs.
However, even though there's a chance that the DPR price might go up due to the token's deflationary nature, it's important to understand that it might also go down. Why? Because the Deeper Network price can get easily affected by the fluctuation of the entire crypto market.
