deip-in-depth-story-so-far

DEIP in depth: the story so far

DEIP is the decentralized economy protocol of the future. With DEIP, you can create your own economic system to power a community that’s fair and sustainable. But how did this unique project come to be? 

Let’s take a look at its humble beginnings as a whitepaper and see what’s in store for the future!

Birth of DEIP and the early years

2014

DEIP is the first protocol to enable completely trustless creation, distribution, and use of digital assets. DEIP creates a decentralized ecosystem in which anyone can create and use digital assets without a third party. This revolutionary protocol has a rich history dating back to 2014 when it was first conceptualized by its creator, Dean Eigenmann. 

DEIP’s history starts with the first ICO for a decentralized ecosystem, DEIP Follow. This took place in 2014 and was conceptualized by Dean Eigenmann as his final research project. The creator noticed that the digital asset industry could benefit from a protocol like DEIP and decided to develop it in 2015.

2017

DEIP quickly gained traction among other miners and developers who helped improve its functionality over time until its official launch in 2017. When it launched, DEIP became fully functional on the Ethereum network. Its goal is to provide a platform for users or groups who want to create digital assets without being restricted by third parties, such as centralized exchanges or protocols. This enables them to retain complete control over their assets while still enjoying the benefits of higher liquidity that are available only on the DEIP protocol.

DEIP’s creator believes it is an essential next step in tokenization development because there will be infinite use cases for digital assets with different characteristics in different sectors. Furthermore, he believes in a distributed future where others can access any digital asset they can imagine to allow free trade with minimal fees and without intermediaries. 

To achieve this goal, he built the DEIP protocol on top of Ethereum smart contracts designed to distinguish between user-defined functions and standard functions already available within the Ethereum network. This approach effectively minimizes the code required for DEIP while optimizing intelligent contract functionality.

DEIP is an open-source, decentralized protocol for creating, distributing, and using digital assets. The protocol has its own coins called DEIP (ERC20). 1.5 million tokens were sold in 2014 by Dean Eigenmann as his final project at Darmstadt University of Applied Sciences. DEIP was launched in 2017 after 2 years of development with a strong focus on security and scalability. The first DEIP ICO is coming soon!

How DEIP was first proposed as a whitepaper

It all started with an idea that could revolutionize economics: what if we got rid of banks?

Most people think of banks as an inevitable part of life. But why do they exist in the first place? They’re essentially just places where money is stored, but this isn’t done for free! 

Banks take advantage of their customers by charging high fees for storing cash, processing payments, etc. This results in us working even longer hours to make ends meet. By decentralizing issuing currency and managing contracts, DEIP could provide a way out. It would be possible to create a genuinely fair economic system that works for everyone. But what is the secret behind this protocol?

The answer lies in blockchain technology. Thanks to blockchain’s decentralized ledger, people will be able to manage their money without the need for banks or other third parties. In addition, blockchain makes it possible for communities to create their own economies with built-in cooperation and transparency from the start. 

With the help of smart contracts, we’ll see more businesses become cooperatives where workers get a share of profits instead of receiving wages like they do today. Could this new economy, based on decentralization, change the way the world works?

Yes, but it will take time. First, DEIP needs as many people as possible to sign up so all of these transactions can take place on the DEIP blockchain. Once this happens, we’ll be on the verge of a new era in economics – one that’s fairer and more sustainable than ever before!

The problem that DEIP is looking to solve

The world is in the midst of a cost-of-living crisis. Record levels of debt and inequality are causing widespread social unrest. Something needs to change.

DEIP is a protocol that aims to create a more equitable and sustainable economy. By removing the need for centralized institutions, DEIP can enable communities to develop economies that work for everyone.

People are already signing up for the DEIP protocol

More and more people are signing up every day because they want to make sure their money doesn’t get tied up in banks, subject to fees. But what makes this project different from previous ones like Bitcoin?

Bitcoin introduced us to decentralized currency, but now it’s all about building decentralized economies. And this is where things get interesting.

So far, DEIP has created two different currencies – the internal tokens used for all transactions and the external token traded on exchanges. By issuing these coins, DEIP is making it possible to completely decentralize business. 

As a result, anyone can have their economies powered by smart contracts with no risk of censorship or shutdowns.

Conclusion

DEIP is a blockchain protocol that allows for the decentralization of economies. This means that businesses can be run without banks or other third-party institutions. Transactions can take place on the DEIP blockchain, making it possible for communities to create their economies with built-in cooperation and transparency from the start. More and more people are signing up every day because they want to ensure their money isn’t wasted on bank fees. 

Today, enterprises are routinely affected by the political and financial scandals that impact many people’s lives. Finally, we have a way to create fairer systems that work for everyone! That being said, this shift in economics will take time. 

Most businesses are still deeply entrenched in the old, broken system because society’s expectations about money are yet to evolve. But if enough people sign up for the DEIP protocol, all of this could change quickly in the very near future. 

By decentralizing currency and creating decentralized economies, we can begin to solve some of today’s most pressing issues. That’s what makes DEIP so exciting!

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