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Dymension priceDYM
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About Dymension (DYM)
What Is Dymension?
Dymension is a Delegated Proof-of-Stake Layer-1 blockchain. It introduces a network of high-speed, modular blockchains known as RollApps. These RollApps are designed to be easily deployable and offer a streamlined approach for creating diverse blockchain applications, addressing the need for scalability, interoperability, and efficiency in the blockchain ecosystem.
The core of Dymension's innovation lies in its RollApp Development Kit (RDK), which acts similarly to the Cosmos SDK for RollApps, providing developers with a robust toolkit to expedite the building process of these applications. This unique approach positions Dymension as a pivotal player in the future development of blockchain technology, offering modular and highly efficient solutions. In February 2024, Dymension launched its mainnet with a 700 million DYM token airdrop to Ethereum and Solana users .
Resources
Official Documents: https://docs.dymension.xyz/
Official Website: https://dymension.xyz/
How Does Dymension Work?
Dymension and its ecosystem of RollApps offer a solution to the blockchain scaling trilemma, which involves achieving a balance between scalability, security, and decentralization. RollApps use Elastic Block Production (EBP) to produce blocks on-demand, significantly reducing the network load and improving efficiency, especially during periods of low activity. This modular nature allows for tailor-made solutions for specific use cases, optimizing transaction throughput. Each RollApp, secured by the validators of the Dymension network through a Delegated Proof of Stake (DPoS) mechanism, represents a significant step forward in the development of scalable, secure, and decentralized applications (DApps).
The operation of Dymension revolves around the use of RollApps, which are essentially individual, application-specific blockchains deployed on the Dymension network. These RollApps are customizable and optimized for specific use cases, using EBP to produce blocks on-demand in response to network activity. The RDK facilitates the building of RollApps by providing pre-built modules and necessary tools, making Dymension act as a hub that connects various RollApps, enabling interoperability and communication between different blockchain ecosystems. Sequencers within RollApps are responsible for validating, ordering, and processing transactions, providing immediate state updates upon transaction submission. This system ensures network security while allowing connections to external blockchains, with the DYM token playing a crucial role in transaction processing, staking, governance, and as a medium for cross-chain value transfer.
What Is DYM Token?
DYM is the native token of the Dymension ecosystem, serving various roles from securing the network to enabling governance and facilitating interoperability across blockchain networks. Validators stake DYM tokens to secure the network and process transactions, earning rewards for their contributions. DYM token holders have governance rights, allowing them to participate in decision-making processes regarding the ecosystem's future development. Additionally, DYM tokens facilitate transactions and interactions across different blockchain networks, including paying for the costs associated with cross-chain data and asset transfers. DYM has a total supply of 1 billion tokens.
What Determines Dymension’s Price?
The price of Dymension (DYM) is influenced by a complex interplay of factors that resonate with the broader cryptocurrency market trends, including supply and demand dynamics, market sentiment, technological advancements within the Dymension ecosystem, and the overall performance of the blockchain sector. As investors and enthusiasts closely monitor price predictions for DYM in 2024, historical charts of Dymension offer valuable insights into its performance and potential as a good investment. Factors such as the adoption rate of RollApps, updates to the Dymension network, regulatory developments, and more play pivotal roles in shaping DYM's valuation. Like other digital assets, DYM price is also subject to the speculative interest of traders, making it essential for potential investors to conduct thorough research and consider the inherent volatility of the cryptocurrency market before making investment decisions.
For those interested in investing or trading Dymension, one might wonder: Where to buy DYM? You can purchase DYM on leading exchanges, such as Bitget, which offers a secure and user-friendly platform for cryptocurrency enthusiasts.
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How to buy Dymension(DYM)
Create Your Free Bitget Account
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Trade DYM perpetual futures
After having successfully signed up on Bitget and purchased USDT or DYM tokens, you can start trading derivatives, including DYM futures and margin trading to increase your income.
The current price of DYM is $1.35, with a 24h price change of -3.45%. Traders can profit by either going long or short onDYM futures.
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Dymension Social Data
In the last 24 hours, the social media sentiment score for Dymension was 3, and the social media sentiment towards Dymension price trend was Bullish. The overall Dymension social media score was 371, which ranks 254 among all cryptocurrencies.
According to LunarCrush, in the last 24 hours, cryptocurrencies were mentioned on social media a total of 1,058,120 times, with Dymension being mentioned with a frequency ratio of 0.02%, ranking 169 among all cryptocurrencies.
In the last 24 hours, there were a total of 935 unique users discussing Dymension, with a total of Dymension mentions of 223. However, compared to the previous 24-hour period, the number of unique users increase by 21%, and the total number of mentions has increase by 57%.
On Twitter, there were a total of 1 tweets mentioning Dymension in the last 24 hours. Among them, 0% are bullish on Dymension, 0% are bearish on Dymension, and 100% are neutral on Dymension.
On Reddit, there were 1 posts mentioning Dymension in the last 24 hours. Compared to the previous 24-hour period, the number of mentions decrease by 50% .
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