Digital Currency

Money of the future and what you need to know to be an informed participant DefinitionsGuides and Tutorials

Frequently Asked Questions

Where is the best place to research the different cryptocurrencies?
Almost every cryptocurrency is announced on Bitcointalk, so it is a good place to start if you need coin specifications or to see what they are planning. Take everything you read with a grain of salt, as the majority of cryptocurrencies are released with grandiose plans that the developer has no intention (or is incapable) of carrying out, and often disappear within a few months. You can also check their websites, research the team members to see what their pre-cryptocurrency background is, and ask questions on the forums. If they promise the moon (including price), don’t help, argue and fight, and frequently have (sensible) members leaving, you may want to move on.
Which cryptocurrencies have the best features and technology?
This may seem like a strange answer, but it is too early to tell. The industry has put the cart before the horse, developing features and new technologies at lightning speed without waiting to see what is really needed for mainstream adoption. The speed of change, and the open source code of most projects that allows anything to be copied and/or upgraded, is making most of their early work redundant.
Why do people invest in cryptocurrency when no one invests in regular currency?
The cryptocurrency industry is very young and has enormous growth potential for select currencies. Most cryptocurrencies have a limited supply, unlike government issued currencies where the money supply can be ballooned at will. If you think of diamonds or gold, it is their limited supply that gives them value. There is a lot of work to do to achieve mass acceptance, but the upside potential gain of any cryptocurrency that can master it is so substantial, investors are willing to take the risk.
Why do I have to buy bitcoin first in order to buy DNotes?
Bitcoin was the first and has taken on a role of ‘reserve’ cryptocurrency, much like the U.S dollar is used in pricing the global commodity trade. Every bitcoin alternative currency (also called altcoin) is decimally priced as a percentage of the current value of one bitcoin. Just as you would use dollars to buy various stocks or bonds, bitcoin is used to purchase other cryptocurrencies. As the industry is maturing, we are seeing various cryptocurrencies offering direct purchase options, and expect DNotes to do the same when the time is right.
What is the difference between cryptcurrency and digital currency?
Digital currency is any form of internet-based currency that allows for instant, borderless transfer of value. Cryptocurrency is a form of digital currency secured by cryptography, that exists outside the control of any government, nation, or financial institution.
How is bitcoin different than a credit card?
Unlike a credit card, Bitcoin is a pre-paid form of money that doesn’t reveal your financial information, doesn’t charge interest or exorbitant fees, and will protect your personal identity. All sales are final with bitcoin, so it is a good idea to stick with reputable merchants that will issue refunds, because there are no chargebacks.
What is the point of buying bitcoin?
While bitcoin and other digital currencies have the capacity to act as money, and transfer value both instantly and globally, most people at this point buy them as an investment or to trade. Yes, they are risky and there is a lot of work to do, but the upside potential gain outweighs the risk for these investors.
Why bother learning about cryptocurrency when all I'm ever going to use is a credit card?
Like it or not, the world is going digital and with many countries contemplating going cashless. Digital currencies such as DNotes allow everyone worldwide to have the ability to hold onto and control their wealth without any intermediaries (financial institutions). This may not seem like a big deal, until everyone decides they want their money out of the bank for any number of crisis reasons seen over and over again around the world. Most people have no idea that the banks hold only a very small percentage of customers deposits in cash. Learning about cryptocurrency can help you understand the problems with the current money system.
Why can't I buy bitcoin or the other cryptocurrencies at a bank?
The industry still has a lot of growing to do. Any stable digital currency that possesses the regulatory requirements needed to be sold by these institutions, and has proven itself 100% transparent and trustworthy, will eventually start showing up in the banks.
Why is the price of bitcoin so volatile?
Bitcoin is still a very young technology and the price tends to over-react to everything, both good and bad. As with any new industry there are a lot of growing pains. Regulatory uncertainty, majority of the trading being done in China, lack of structured leadership that you would see in a successful business investment, and still being a speculative asset, all help contribute to its volatility. The media has also played a role – Over the years, they have declared bitcoin dead in excess of 100 times.
Why are people from countries with hyperinflation (Venezuela for example) using bitcoin?
Disastrous government monetary policy that ballooned the money supply in these countries has caused the currency to become worthless, wiping out the wealth of all its citizens. People were carrying large bags of bills, just to buy a few necessities. Bitcoin has a fixed supply, cannot be created out of thin air or controlled by any government, resulting in a much more stable currency for them.
Why do people think bitcoin is a ponzi scheme?
They either don’t understand how bitcoin works, don’t know what a ponzi scheme is, or both. Just as in any other investment in a new groundbreaking technology, early investors reap the biggest rewards. It is bought and sold on global exchanges in a similar fashion to equities or commodities. The hallmark of a ponzi is paying existing investors high returns from the funds provided by the recruitment of new investors. Cryptocurrency doesn’t work this way, and the permanent ledger of all transactions (blockchain) provides a fund trail that isn’t conducive to any type of crime.
What is a web wallet and are they safe?
A web wallet provider allows you to store your digital currency online on their server, in a similar manner to the custodial investment relationship we are all accustomed to. They are extremely easy to set up and can be accessed from anywhere on any device. The downside – A web wallet is only as secure as the team behind it.

Related:  Are Web wallets a Key Step in Cryptocurrency Adoption?


Digital Currency, Fintech, and Blockchain News From The Industry's Leading Sources
  • India’s Supreme Court Calls for Government Response to Petition Seeking Bitcoin Regulation
    by Ken Chase on November 19, 2017 at 1:04 am

    The Supreme Court of India has submitted notices to several government ministries, seeking a response to a petition that calls for Bitcoin regulation. The notices were sent to three ministries – Finance, Law and Justice, and Information Technology – as well as to the nation’s central bank (RBI) and market regulator (SEBI). That petition cites Bitcoin’s perceived anonymity and lack of accountability, and references regulatory actions that have been taken by other countries around the globe. Read Mor […]

  • LendEDU Survey Highlights Bitcoin Investor Expectations
    by Ken Chase on November 17, 2017 at 8:53 am

    LendEDU recently published new data that offers some key insights into Bitcoin investor expectations. LendEDU conducted several surveys over the last several months, questioning Americans about their attitudes toward Bitcoin, ICOs and a few other digital currencies. Those surveys revealed a consistent level of excitement for cryptocurrency’s potential as a currency and investment prospect. Read Mor […]

  • Square’s Cash App Testing Bitcoin
    by Ken Chase on November 15, 2017 at 7:33 pm

    The Square Cash app is now testing support for Bitcoin, and has provided a select group of customers with the ability to buy or sell the cryptocurrency within the app. The new feature is part of an effort by Square to explore how the company can improve the Bitcoin buying experience for those who want to invest in the world’s most well-known digital currency: Read Mor […]

  • European Commission Studying Feasibility of EU Blockchain Infrastructure
    by Ken Chase on November 13, 2017 at 8:26 pm

    The European Commission recently announced the launch of a new 250.000€ study designed to evaluate the potential for creating an EU-wide blockchain infrastructure. The Commission’s goal is to set the “right conditions for an open, innovative, trustworthy, transparent, and EU law compliant data and transactional environment” Read Mor […]

  • Mnuchin: Treasury Watching Bitcoin ‘Very Carefully’
    by Ken Chase on November 11, 2017 at 8:27 pm

    The government’s views on Bitcoin were one topic of discussion during U.S. Treasury Secretary Steven Mnuchin’s interview with Yahoo Finance markets correspondent Nicole Sinclair on Thursday. The Secretary offered few specifics and no timetable for announcing an official position, but did note that he remains concerned about the cryptocurrency’s potential for facilitating illegal activities: Read Mor […]

Basic Definitions

A unique string of letters and numbers representing a location on a cryptocurrency’s blockchain  Cryptocurrency can be sent to various addresses and retrieved using software called a wallet.

A cryptocurrency alternative to Bitcoin. Altcoins can differ from Bitcoin in a number of ways including type of algorithm used for mining, block reward, and time it takes to solve a block. Some examples of altcoins include DNotes, Litecoin, and Dash.

A public ledger of all transactions that have ever been executed. It is constantly growing as new blocks are added, each with a new set of recordings. The blocks are added to the blockchain in a linear, chronological order and by verifying each transaction added to the blockchain, counterfeiting is all but impossible.

Cryptocurrency Investment Savings Plan (CRISP)
a DNotes global initiative, designed to bring digital currency to ordinary people, including those underserved by banks. They are long term savings plans offered through the DNotes Vault; some of them are interest bearing.

CRISP For Retirement
An unstructured and self directed plan which uses DNotes as the investment vehicle to supplement retirement savings. This plan is interest bearing and requires funds be kept in the plan account until the account matures. Maturation periods range from five to twenty years. Reoccurring savings in any amount may be added at any time.

CRISP For Students
The world’s first student centered self directed investment plan. The plan awards students an introductory amount of DNotes in order to give them firsthand experience with the money of the future. Students may deposit funds to their account or spend existing funds any time.

CRISP For Kids
An unstructured and self directed plan using DNotes as the investment vehicle. The purpose of CRISP for Kids is to encourage parents, grandparents and other family members to save for their children’s future as well as to help children develop strong savings habits early in order to secure their financial future. Reoccurring savings in any amount may be added at any time.

A specific form of digital currency which is run on a peer to peer network based on a blockchain and uses aggregated computing power to release new coins and confirm transactions.

Digital Currency
Internet based forms of currency including cryptocurrency, virtual tokens, and digital representations of fiat money.

An online trading platform used to buy and sell cryptocurrency.

A website where you can go to claim a small amount of cryptocurrency. The site is supported by advertising revenue, and the incentive of the claim keeps traffic coming to the site.

Peer to Peer (P2P)
A network of computers in which each computer can act as a server for the others. Cryptocurrency uses peer to peer, meaning users can transact directly without needing an intermediary (credit card company, wire transfer service or bank). Transactions are verified by network nodes and recorded on the blockchain.

Public Key
A long string of encrypted data that is specific to a particular currency holder, is visible to anyone you transact with, and is used to receive cryptocurrency.

Software used to access private keys, as well as send and receive cryptocurrency. There are several types of wallets:

Desktop Wallet: To store digital currency in a desktop wallet, you’ll need to download software to your computer. Before using a desktop wallet you should make sure your computer is secure.

Hardware wallet: a device that stores a part of a user’s wallet securely in mostly offline hardware. Hardware wallets are immune from computer malware which steals from software wallets. Hardware wallets are only connected to the Internet when making transactions.

Mobile wallet: A wallet which runs as an app on a smartphone. The wallet can store the private keys for your cryptocurrency addresses and enable you to pay for things using your phone. Mobile wallets are generally not full Bitcoin clients. They download a very small portion of the blockchain and rely on other trusted nodes in the Bitcoin network to ensure they have the correct information. This is good for convenience, but increases risk. Only use mobile wallets from a trusted provider.

Paper wallet: A cryptocurrency wallet that is never connected to the Internet. It consists of an address and two QR codes. The first QR code is a public address you can use to receive cryptocoins. The second QR code is the private key which you can use to spend cryptocoins stored at that address. A paper wallet is the most popular and cheapest option for securing cryptocoins. The benefit of a correctly made paper wallet is that the private key is not stored digitally anywhere, so is not vulnerable to cyber-attacks or hardware failures.

Satellite Wallet: The first deployments of this technology will still utilize the internet to access private keys. Upon full deployment, users will be able to use dedicated devices that interact directly with the satellite node in outer space. There are a number of advantages that space has which the earth does not, such as lower cost of producting energy, zero gravity, and cooling superiority.

Vault Wallet: Features all the convenience of a web wallet with several additional security features, and is among the safest places to store your Digital Currency. All transactions are signed using an offline process, ensuring the funds are safe and secure. Deposited funds are guaranteed with DNotesVault.

Web Wallet: Stores your digital currency online, on a computer controlled by someone else and connected to the Internet. One advantage of web-based wallets is that you can access them from anywhere, regardless of which device you are using.

Advanced Definitions

2 Factor Authentication (2FA)
A login process involving two separate components to check the identity of a user trying to access a computer, network, or website. In the first stage, the user enters a login ID and password. In the second stage, the user enters a temporary code sent to a phone, smartphone, or email.

51 Percent Attack
A situation where one entity controls the majority of a cryptocurrency’s network which could result in double spends, selective rejection of transactions, or an uneven distribution of block rewards. It cannot reverse previously confirmed transactions or otherwise alter the blockchain in any way. The larger the mining network, the more difficult it is to achieve a 51 percent attack.

The process or rules followed in problem-solving operations performed by computers mining a cryptocurrency. The most commonly used algorithms for cryptocurrency are SHA-256 and Scrypt.

Short for Application Specific Integrated Circuit, an ASIC is a chip that is designed to perform a very narrow set of tasks with a high efficiency and performance. ASICS have been developed to mine Bitcoin and other cryptocurrencies using the SHA-256 algorithm as well as Litecoin, DNotes and others using the Scrypt algorithm. People commonly refer to ASICs as the entire machine that is built using these chips.

Block Reward
The amount of cryptocurrency which gets released once a block is solved by miners.

Block Height
Indicated by the most recent block that was solved and added to the blockchain, its number being one more than the previous solved block. It refers to the total number of blocks that are connected together in the block chain.

Cold Storage
A term for security measures taken to eliminate the risk of remote access to a wallet’s private keys. It could be a normal computer disconnected from the Internet, a dedicated hardware wallet, a USB flash drive with a wallet file, or a paper wallet.

The number of blocks that have been solved since a transaction occured. Each time a new block is solved, every transaction within that block is verified (or confirmed) by the entire network.

Consensus Protocol
An unforced system that is governed by networks of agents that exchange information to reach consensus. In the case of Digital Currency, miners would be the agents.

Double Spend
Successfully spending the same cryptocurrency twice. In order to avoid double spends, wallets and services using a given cryptocurrency require a certain number of transaction confirmations following a deposit before the funds are available for spending.

Full Node
A wallet that fully validates transactions and blocks. Almost all full nodes help the network by accepting transactions and blocks from other full nodes, validating those transactions and blocks, then relaying them to further full nodes.

A hash function is any function that can be used to map digital data of random size to digital data of fixed size. For example Bitcoin uses SHA-256 hash function and DNotes uses Scrypt. The values returned by a hash function are commonly referred to as hashes.

Hot Wallet
A cryptocurrency wallet which is connected to the Internet. Funds in a hot wallet are readily available and can be easily sent. They are also vulnerable to hacking if the wallet is not properly protected.

The process by which new cryptocurrency is minted. Once a miner has completed the work required to solve a block, the block reward is released to that miner. Most miners are driven by profit, but since anyone with an internet connection and computer can mine, there are many who do so as a hobby.

Mining Pool
A group of miners which combine computing power to increase the chance of solving a block. Once a block is solved, the reward is distributed to all the miners according to the amount of work each contributed.

The node software for cryptocurrency uses peer to peer networking, digital signatures, and cryptography to make and verify transactions. Nodes broadcast transactions to the network, which records them in a public record of all transactions called the blockchain after validating them with a proof of work, stake, or importance system.

Private Key
A long string of encypted data that is specific to a particular currency holder and allows the cryptocurrency to be spent. Anyone with access to the private key can spend the associated funds.

Proof Of Stake
An alternative to Proof of Work in which your existing stake in a cryptocurrency is used to determine the amount of newly staked (mined) coins you receive.

Proof Of Work
A protocol in which the users demonstrate to a verifier that they have expended the required amount of computation power in a specific time frame. For a block to be valid it must hash to a value less than the current target. This means that each block indicates that work has been done to generate it.

QR Code
A machine readable code consisting of an array of black and white squares. QR codes are designed to be scanned by cameras, including those found in mobile phones, and are frequently used to encode Bitcoin addresses.

Work submitted on a block that has already been solved (hashed). This work is redundant, unnecessary, and brings no reward. The term is also used in mining pools to describe a share of a hashing job that has already been completed.

In a mining pool, each individually registered mining rig or group of mining rigs is referred to as a worker. When configuring mining hardware, the worker ID and password must be provided in addition to the pool mining port.

Guides And Tutorials

How To Use DNotes Vault
Step 1. Click here to sign up

Step 2. Check your email for the verification message. Ensure it is not in your junk folder.

Step 3. Once logged in, go to dashboard and click Create Address to create your first DNotes address. You can create as many as you want.

Sending DNotes with DNotesVault

Step 1. Click “Withdrawal” on the address you wish to withdraw from.

Step 2. Choose “Regular” for a regular withdrawal, or “Timed Send” to create a smart contract

Step 3. Enter the DNotes address of the recipient. If they have a DNotesVault account, you can send it to the email address associated with their account.

Step 4. Enter the withdrawal amount. If creating a Timed Send contract, fill in payout frequency and payment amount.

Step 5. Click “Submit Request”, and check your email to confirm withdrawal.

Receiving DNotes with DNotesVault

Step 1. Click deposit on the DNotes address to which you wish to receive payment.

Step 2. Copy your deposit address and send the DNotes there, or give it to the person sending you the DNotes. If they have a DNotesVault account, you can have them send it to the email address associated with your account.

Retirement Account Setup

Step 1. From your DNotesVault Dashboard click on the “Retirement” tab.

Step 2. Click create address.

Step 3. Select the length of your retirement plan, add the name of your account where it says, “Label for this address”, agree to the terms and click Create.

Step 4. To fund your account, click Deposit. Send DNotes to this address.

How To Set Up A DNotes Wallet On Windows
Step 1. Download the wallet

Step 2. Use WinZip or WinRAR to extract

Step 3. Open dnotes-qt.exe from the folder you extracted it to, and wait for it to synchronize. This process can take nearly 15 minutes to begin, and hours to complete.

Step 4. Once the wallet is synchronized, you may start sending and receiving DNotes, or set your wallet up as a server for solo mining.

How To Mine DNotes
Step 1. Set up your DNotes Desktop Wallet following the intructions in our How-To Guide.

Step 2. Decide whether you will be solo mining or wish to  mine with a pool. We recommend new users, or those with low hashing power, join a pool.


Pool Mining

Step 3. Choose a Pool
DNotes Pool

Step 4. Download a miner

Step 5. Open the location of your miner.

Step 6. Right click on any open space in your miner folder. Hover over New, and select Text Document.

Step 7. Open the document you just created, and type in the following information:

cgminer –scrypt -o stratum+tcp:// -u username.worker -p workerpassword

Step 8. Click File, then Save As. Change the File Name to DNotes.bat and change “Save as type” to all files. Click save.

Step 9. Open DNotes.bat, press G to alter GPU settings


Solo Mining

Step 3. Ensure your DNotes wallet is completely synchronized before proceeding.

Step 4. Close your DNotes wallet and open the location of dnotes-qt.exe

Step 5. Open your Start Menu, and search: %appdata%

Step 6. Click on Roaming, and locate the DNotes folder.

Step 7. Move dnotes-qt.exe and all of it’s .dll files to the DNotes folder in Roaming.

Step 8. In your DNotes folder, right click on any open space. Hover over New, and click Text Document.

Step 9. Open the new document.

Step 10. Enter the following information in your document:


Step 11. Click File then Save As. Make your File name dnotes.conf and change File type to All Files.

Step 12. Click Save.

Step 13. Open the location of your miner.

Step 14. Right click on any open space in your miner folder. Hover over New, and select Text Document.

Step 15. Open the document you just created, and type in the following information: cgminer.exe –scrypt -o -u username -p password

Step 16.Click File, then Save As. Change the File Name to DNotes.bat and change “Save as type” to all files. Click save.

Step 17. Open your Start Menu, and search CMD. Open CMD (command prompt)

Step 18. Type cd (include one space after cd). Then drag your whole DNotes roaming folder into the command prompt screen. Press enter.

Step 19. In command prompt, type: dnotes-qt -server

Step 20. Hit enter, and the DNotes wallet should open as your server.

Step 21. Open dnotes.bat located in your mining folder. When your miner opens, you can adjust GPU settings by pressing G.

How To Run A Full Node
Step 1. First decide if running a full node will work for you.

You should only run a node if:
-You have unlimited, high speed internet
-Your computer has sufficient storage space
-Your computer has at least 2GB RAM
-Active Antivirus Software is installed on your computer

Step 2. Open your DNotes wallet. If you haven’t downloaded a wallet, please refer to our how to guide or visit

Step 3. Leave your wallet open.

Running a full node helps strengthen the network by relaying new transactions from users to miners, and transmitting new blocks from miners to other nodes. Full nodes are also responsible for sending the blockchains transaction history to new users, and to wallets have been offline for a while.