DNotesVault Benefits Every User on the DNotes Network
By: Theodore Hauenstein
Tags: Blockchain, Dnotes, Bitcoin

I wanted to take a minute to explain in a bit more detail the DNotes model, how DNotesVault fits into that model, and why it benefits every user whether they use the service or not.

DNotes’ Holistic Approach

DNotes takes a holistic approach to digital currency, recognizing that every individual component — including every user and service on the network — has an impact on the system as a whole. This is why our unique cross-ownership model is so important to DNotes Global. The model ensures the entire system works as one cohesive machine, empowering us to offer greater services to our community — services like the DNotesVault.

You may recognize this systems approach, especially if you’ve read DNotes founder Alan Yong’s book: “Improve Your Odds: The Four Pillars of Business Success”. The principles outlined in the book are critical to the future of DNotes and DNotes Global, serving as a rule book of sorts and providing the guiding principles for DNotes and DNotes Global.

DNotesVault Benefits Everyone

Regardless of whether you choose to use DNotesVault to store your DNotes, the service benefits all our stakeholders. The fact is that most people naturally take the path of least resistance. By making it easy to safely store DNotes in cold storage at the DNotesVault, fewer people will end up storing their DNotes in locations where they are at a higher risk of being stolen — such as exchanges or wallets that are not properly secured. Stolen coins pose a huge risk of being dumped on the market without any regard for everyone else on the network.

More Than Money

It’s not just the price and market that is impacted by stolen or lost coins, but the user experience of everyone in the community. Imagine investing your hard-earned money to buy some DNotes only to see them lost or stolen!? If the lost sum was a significant amount of money, you would be much less likely to continue to use and trade DNotes because you would no longer trust its underlying security. DNotesVault helps to preserve that trust, for everyone’s benefit.

Manual Review, Confirmation, and Additional Hold

Cold storage and account security are not enough to ensure the protection of your coins in every instance. That is why we intentionally have a hold time, undertake a manual review and audit of withdrawing accounts and recent history, and sometimes even require manual confirmation before releasing your funds from the DNotesVault.

It is our view that mass adoption requires simplicity, and that before we worry about simplicity, we need the best security.

Options and Choices

None of that means that you are without choices, however. While our goal is to provide an online vault environment that offers maximum protections for your hard-earned holdings, we also recognize that some users may feel comfortable managing their own assets outside the vault. There are options that you can use to forgo the security features offered by the DNotesVault, including our Electrum Wallet and Desktop Wallet. These options provide quick access and full control over your funds.

The main point is that DNotesVault was designed and created to serve as a safe and easy-to-access coin storage and management option for our users. Our goal was to simplify DNotes account management in a way that removed technical burdens while maximizing coin security and user peace of mind. However, that additional protection does involve a compromise, trading some speed for security. As time goes on and these systems continue to evolve, we expect to eventually offer a solution that combines speed, security, and user control.