DubaiCoin is a unique cryptocurrency with a narrow regional focus

• peculiarities
• algorithm
• mining
• wallets
• characteristics
• conclusion

DubaiCoin is a cryptocurrency that was created in 2016 for the Arab world with the aim of distributing Bitcoins and altcoins. From the name it follows that its main owners are residents of the Persian Gulf countries. The cryptocurrency distribution company is legally registered and is located in Tunisia, where software developers from different countries work.

Peculiarities

This crypt previously had a DBIC sticker, but now this coin is not supported. Instead, new DubaiCoin (DBIX) has appeared, which are more relevant and recommended for exchange. Despite this, the old version continues to live, gradually losing its significance in the market, so there is still time for its owners to exchange.

DBIC coin used to have its own website, which left a good impression and was well structured. Now, when accessing it, you can see the inscription: “Under development.” Perhaps after some time he will restore his work.

In addition to the website, DBIC had its own store where you could buy Arabic hookahs, jewelry and other trinkets. It's not working right now. Most likely the reason for this is the transition to a new version of the currency.

Dubai will have its own digital currency

Blockchain startup Arabian Chain Technology has announced the release of its own digital currency, DubaiCoin, which will be used as a means of payment in Dubai stores and will also act as an investment asset.

“DubaiCoin will soon be able to be used to pay for a range of goods and services both in stores and online, with a move to replace traditional bank-backed currencies. The circulation of the new digital currency will be controlled both by the city itself and by authorized brokers,” the press release says.

Payment in digital currency is supported by the DubaiPay payment system, which is already used by hundreds of shops, cafes and restaurants in Dubai. The system also allows you to exchange fiat money for digital currency. At the time of writing, the cost of the coin was about $0.09.

DubaiCoin Algorithms

The encryption method is identical to that used for Bitcoin – SHA-256. Its job is to divide the received message into blocks, where each of them contains 16 layers. The algorithm skips a block only after going through a cycle of 64 rounds. Each round converts 2 words, after which the final result appears as a hash sum.

PoW/PoS cryptocurrency protection method. These 2 protocols work together, protecting the user from DDOS attacks. The first of them stands for Proof of Work, the work of which is based on the computing power of all participants. Thanks to it, the decentralized network system is supported. And the second Proof-of-Stake protocol looks for vulnerabilities and optimizes them, and also regulates the percentage of profit.

The best equipment for mining DubaiCoin (Etash algorithm)

Video card: RX 570, RX 580, GTX 1070

Motherboard: ASRock H81 PRO BTC R2.0

Processor:Intel Celeron G1840 (the cheapest one will do)

RAM: Kingston HyperX Fury 4 GB, 1333 MHz, DDR3

Power supply: for GTX 1070 2x Corsair 750 W, for GTX 1080/1080 Ti 2x Seasonic Prime Ultra Platinum 1000 W

SSD: Silicon Power 120GB SSD

Adapter for two power supplies: ADD2PSU

USB risers: VER 008S, 6 pcs.

Frame

The best graphics cards for mining DubaiCoin are the RX 570 and RX 580 series from AMD. Nvidia is also possible, but the profit will be slightly less than if you mine algorithms tailored for “green cards”.

Mining

The DBIX mining process does not differ in anything special from similar cryptocurrencies, except for the wallets and software used. Description of one of the options:

1. First, you will need an address where DBIX will be mined. It can be obtained from the respective websites.
2. You will also need a pool for mining this currency. The most suitable is dbix.pool.sexy, which additionally contains connection information.
3. Next you need to download a program that has a similar algorithm to cryptocurrency. The Ethminer Genoil DBIX program is suitable for this.
4. In it you need to configure the parameters of the pool and the received address. This can be done in the StartumOpenCL.bat file, which is located in the software folder.
5. After setting up and rebooting the system, all that remains is to run this configuration and wait for the results. To visually display the process, you can view information on the site with the pool by entering the address used.

Sometimes the program may malfunction, especially at first. This occurs due to connection obstacles and the start of the mining process. Over time, work will go smoothly and without interruption. It is worth considering that this method requires high computer performance. Otherwise, you will have to wait a long time for progress.

Fans of this coin also create detailed instructions for using the latest versions of the software. For example, instead of the program described above, you can use an analogue of Hybrid Claymore miner, which runs 2 scripts simultaneously, thereby increasing profits. By joining the community, you can learn new ways to make money and receive good advice.

What is DubaiCoin

Total coins - infinite

Algorithm – Ethash

Product status : Completely ready

In a nutshell, DubaiCoin is an easy-to-use platform for developing smart contracts.

The goal is to create a platform that allows users to create decentralized applications (dApps) and run smart contracts. The target audience is representatives of the business environment.

ArabianChainTechnology is an enterprise founded in the UAE for the development of smart contracts.

Note that the project developers used a Pre-mine of 610,000 DBIX.

You can read a more detailed description about the coin and its structure in the review article.

Wallets

The DubaiCoin cryptocurrency has its own wallet, which is available for download on Windows, Linux, Mac OS, Raspberry and Android systems. The installation process is quite simple: just download its official version on GitHub and extract the contents of the archive to your desktop. If you have problems finding the missing file, you must manually specify the wallet location in the program.

If the user does not have an account, one can be created in the same program with one click by entering and repeating the password. The name of the new account acts as a mining address, which can be used in the corresponding program. This way the miner gets his own wallet where he can collect DBIX coins.

In addition to its own wallet, this cryptocurrency is supported by the LiveCoin system.

DubaiCoin

Total coins: unlimited. 2,600,000 DBIX annual increase.

Structure: centralized

ArabianChainTechnology is a UAE based enterprise

ArabianChainStudio is an easy-to-use smart contract development environment.

ArabianChainTechnology is a group of multinational, talented and diverse professionals committed to making blockchain technology a reality. The group was founded in February 2016.

The goal is to provide a platform that allows users (mostly in business) to create dApps and run smart contracts on the platform.

At ArabianChain, developers strive to revolutionize the way governments, businesses and individuals perceive and deal with the economy, e-services and digital transformation by leading entrepreneurial thinking and innovation in blockchain technology.

Their unique experience in leading international firms such as Microsoft, Dell, Ericsson and Oracle, in addition to their knowledge of business, banking, telecommunications, healthcare and the public sector, gives them an edge in driving positive change in the region's thriving economies MENA.
What is Arabian Chain?
ArabianChainTechnology is an open source, community-driven project with the goal of creating a decentralized peer-to-peer consensus platform for distributed applications.

ArabianChainTech will leverage and enhance blockchain technology and build a full-featured application platform on top of it.

Instead of giving users a set of predefined instructions (as Bitcoin does, for example), ArabianChain allows users to easily create their own instructions of any complexity.

As such, it serves as a platform for many different types of decentralized applications, including but not limited to cryptocurrencies. Their public, decentralized and secure blockchain enables the development of self-executing smart contracts and decentralized applications, as well as the creation, transaction, tracking and security of cryptocurrencies across a network of thousands of connected devices.

It is the first public and decentralized blockchain in the region, enabling the development of globally accessible smart contracts and decentralized applications, as well as the creation, tracking and security of digital tokens through a network of thousands of connected but decentralized devices.

DubaiCoin is a coin created to assist in the functioning of the project; it is its internal currency.

Development team

The development team consists of 8 people.

development team

Mohammed ALSEHLI - Executive Director. Mohammed is one of the region's pioneering innovation strategists, blockchain visionary and entrepreneur.

Mustafa ALSULAMI – engaged in business development. Mustafa has over 10 years of experience working with multinational companies in the region.

Abdulrahman ALHARTHI – manager.

Youssef ELALLALI - Technical Director. Thought leader. Conducts blockchain practices.

development team managers

Dima Malibary is a brand enthusiast, design lover and innovation seeker.

Walid MESSAOUDI – Manager. Walid is responsible for providing management, direction and coordination of all processes and functions of the project management office.

Aleksandra VESIC - technical manager. Alexandra is an experienced developer of HTML, CSS, JavaScript, JQuery, Node.js, Electron, AngularJS, Meteor, Cordova and Phonegap.

Mohammed Rashid is a software engineer. Mohammed is a computer engineer with over 3 years of experience in software development and entrepreneurship.

Road map

February 2022:

• Official formation of the ArabianChain team in Dubai

April 2022:

• Entering the exchanges

July 2022:

• The first release of the ArabianChain API is the fastest and easiest way to integrate DubaiCoin - DBIX payments into your business or application.

September 2022:

• First release of ArabianChainStudio Sep. An easy-to-use platform for creating Smart Contracts using a visual programming interface.

October 2022:

• Palmex is MENA's first professional cryptocurrency exchange that offers advanced trading tools, multiple cryptocurrency pairings, strict security measures and low trading fees.

November 2022:

• Web wallet release.

December 2022:

• New website with updated roadmap

1st quarter 2022:

• API V2 - Adding New Features to the REST API
• Android wallet
• iOS wallet
• Cold wallet

2nd quarter 2022:

• ArabianChainStudio v2 - Adding new features such as predefined templates, cloud storage and sharing

3rd quarter 2022:

• Thuraya AI - Artificial intelligence chatbot that allows users to create smart contracts

4th quarter 2022:

• Business Blockchain - Framework for developing blockchain applications

1st quarter 2022:

• The first release of ArabianChain allows developers to create and manage private blockchains.

2nd quarter 2022:

• ArabianChainAcademy
• Management Tools
• R&D lab

Where to store?

You can store coins on official cold wallets for the following operating systems:

• Windows
• Linux
• Mac

https://github.com/dbix-project/go-dubaicoin/releases

You can also store coins directly on the exchange where they are traded.

How to mine?

The coin runs on the Ethash algorithm and is mined on the usual video cards - GPUs.

In order to start mining this coin you need to:

Build a mining farm or use 1 video card in your computer. Video cards from AMD are best suited for mining. You can also mine DubaiCoin on cards from Nvidia, but the profit per day will be slightly less.

It is worth noting that with the “OHGODANETHLARGEMENTPILL” tablet, created specifically for Nvidia 1080 TI and 1080 cards, mining Ethash coins has become much more profitable.

Now 1080 TI has a hashrate of 55 Mh/s. But it is worth noting that this tablet is not ideal: many believe that it can harm the card and damage it faster if you use it constantly.

Programs

Next, you need to download a miner to mine this coin. The following are suitable:

Hashrate

AMD 280x – 11 Mh/s AMD 570 – 27.9 Mh/s AMD 580 – 30.2 Mh/s AMD Vega 56 – 36.5 Mh/s AMD Vga 64 – 40 Mh/s Nvidia 1050 TI – 13.9 Mh/s Nvidia 1060 – 22.5 Mh /s Nvidia 1070 – 30 Mh/s Nvidia 1070 TI – 30.5 Mh/s Nvidia 1080 – 23.3 Mh/s Nvidia 1080 TI – 35 Mh/s (tablet up to 55 Mh/s)

Pools

After the miner has been downloaded, you need to select a mining pool that is convenient for you:

https://dbix.pool.sex https://clona.ru:3005

When the pool is selected, you need to configure the Bat File for it.

That's it, all that remains is to launch the batch file. The mining process has started.

How to get a?

1. Mine using GPU (video cards)
2. Buy on the exchange
3. Mine another, more profitable coin and immediately sell it on the exchange in exchange for DBIX.

Where can I buy?

The coin is traded on 3 exchanges.

Forecast

Overall, DubaiCoin is a completely ordinary coin, more focused on the UAE. There are a lot of coins with such goals and objectives among all cryptocurrency.

The disadvantages include Twitter, since half of the tweets do not carry any meaning or benefit.

The coin is actively traded on all exchanges, which means there is interest and demand for it.

Based on the roadmap, there are many major events planned for late 2022/early 2022. It is worth following the news of this coin, because if everything goes well, a gradual increase in the DBIX rate will begin.

Pros and cons of this cryptocurrency

DubaiCoin has the following disadvantages:

1. Compared to analogues, it has a smaller number of coins, which amounts to a difference of literally 10 million.
2. In the history of cryptographic money, those currencies that were focused on 1 region did not succeed behind their competitors and were quickly forgotten.

Despite its narrow regional focus, DBIX has advantages over other cryptocurrencies:

1. The transaction is confirmed faster; it takes 1 minute to form a block, when, like other digital currencies, this process takes about 10 minutes.
2. It is in high demand because the “homeland” of this coin is well known in other regions of the world and is very rich.
3. Currently, 1 DBIX is worth $11, or 0.00338630 BTC, while the unsupported predecessor is worth $7.53, or 0.00300107 BTC. DBIX has significantly higher activity, so the values ​​change every few hours.

Venezuela's project failed, and China became the leader

As the creators of DubaiCoin themselves explain, they were inspired to create the coin by the example of Venezuela and China, which became one of the first countries in the world to launch their own digital currencies. However, in the case of Venezuela, the experiment with the introduction of CBDC was rather a failure, as the country’s economy received a serious blow after the introduction of the digital Petro. Despite the fact that the country's government is trying in every possible way to popularize its own digital currency, Venezuelans claim that there is nothing good in using Petro.

Entrepreneurs in the country complain that the use of CBDC is seriously harming business. One called the Petro "a worthless currency that serves as a crap subsidy in a depressed economy." In his opinion, if the government does not resolve the issue of regulating cryptocurrency within the country in the near future, then half of the entrepreneurs will leave the market due to complete ruin.

But the digital yuan has gained wide popularity in China. Already today, Chinese companies have begun to accept CBDC as a means of payment. Many businesses in Xiangcheng District, Suzhou have already installed NFC and QR codes to accept digital yuan payments. According to preliminary information, payment in digital yuan will also occur offline.

According to experts, China is doing everything possible to create a real alternative to the American dollar.

“It seems to me that China is pursuing several goals in this case, but the most promising direction is the opportunities opening up for the yuan in terms of its global distribution. In essence, the Chinese cryptocurrency could become an intermediary for the yuan, able to carry it around the world for use in everyday transactions. In this sense, the Chinese cryptocurrency will become the basis for the internationalization of the yuan ,” explained the head of Circle, Jeremy Allaire, long ago.

Previously, we talked in detail about the digital yuan.

Overclocking

The Ethash algorithm requires mostly memory for overclocking; it is not necessary to overclock the core.

Therefore, the above examples are an approximate option for overclocking video cards. However, you can overclock more, but you need to monitor the operation of the farm on the first day, since overclocking can lead to the cards crashing, which means stopping mining.

Note that on the same line, for example 570, cards from different manufacturers can overclock differently: some a little more, some a little less.

For example, the RX 570 from PowerColor calmly withstands: “memory clock 2000«.

Useful links: Detailed review of the coin: rate, chart and news

Official website: www.arabianchain.org/

Statistics: explorer.dbix.info/

Twitter: https://twitter.com/Dubaicoin

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Programs

In order to mine the DBIX coin, you need to download a miner. The following are suitable:

Extract the archive, there you will find already fully configured and ready-made Bat files of the DBIX coin for different pools. All you have to do is enter your digital wallet received on the exchange, or from a cold wallet and launch it. The mining process will automatically start.

If you want to set up a batch file yourself, in the articles about each miner, you will find a detailed description of setting up the coin.

Conclusion and recommendations

DubaiCoin is an interesting coin in terms of mining on Rx 570 and 580, as it is quite profitable and brings good returns from time to time in relation to other coins.

However, the coin itself is most likely not worth considering in the long term, since for the most part it does not carry anything in itself; in other words, it is another coin with the same goals as hundreds of coins before it

It’s also worth noting that the project’s Github is completely abandoned!

It makes more sense to mine it when DBIX is at the top of the whattomine calculator and sell it for more reliable coins, for example, Ether, Bitcoin, or any other top coin.

Let us remind you that our website presents a large number of miners for different algorithms with detailed descriptions, settings, ready-made Bat files and much more!

How to mine with video cards

Block Reward : 6 DBIX

Block time : 1m 29s

Total coins : infinite

If you already have a mining farm and you have received a digital coin wallet, then next you need to download the mining program and select a pool.

Pools

List of pools

After you have chosen a mining pool that is convenient for you, proceed to downloading the program (miner).

Detailed guides for setting up miners are given in the table below. In it you will find a step-by-step guide, advanced configuration options, troubleshooting and much more.

DubaiCoin rate

0.89 cents - this is exactly how much they gave for the token on the first day of trading on April 6, 2022. Then it began to rise in price and at the end of June it already surpassed the $10 mark. In July, the DBIX rate reached 42 USD, after which it began to roll back to minimum positions, even down to 3 dollars. At the end of last year and the beginning of this year, it did not show record growth - its maximum reached $33 in January.

Today, 1 DBIX costs about $3, and the network capitalization is just over $7 million.