BEIJING, Feb. 21, 2017 /PRNewswire/ -- On the background of an ever-increasing number of electronic financial systems which are emerging every day on the network, the appearance of a new environmentally friendly cryptocurrency can not pass unnoticed. "How can users get mining percentage without special equipment, without having to spend huge amounts of money to pay for the electricity bills? Why is there so little truly interesting and important projects in the world? How to play on the exchange and currency markets, and what is the mission of E-Dinar Coin cryptocurrency," asked CoinMarketCap.
CoinMarketCap: E-Dinar Coin has positioned itself as the world's first eco-friendly decentralized cryptocurrency. How can its mining be possible without energy consumption?
Insider My: E-Dinar Coin mining doesn't require a huge amount of energy compared with other cryptocurrencies such as Bitcoin. For participation in holding the overall transactions in the system and ongoing transfers, people can get mining bonus in the amount of up to 0.65% per day. It is a reward for their participation in the development of the system, as by making internal transactions among other participants in the E-Dinar Coin system, every user contributes to the overall development of our increasing network of distributed transactions and at the same time, their income.
Mining of E-Dinar Coin cryptocurrency is performed without special equipment, with no electricity costs, whilst our cryptocurrency miners are, first of all, people who are willing to change the world for the better.
CoinMarketCap: You're talking about a global purpose - the desire to change the world ... Can you describe the mission of the E-Dinar Coin project?
Insider My: Our mission IS to change the world for the better.
Now our main task is to ensure that E-Dinar Coin is known by more people around the world. And it is important that users, by offering products and services, would explain as well what is the Federal Reserve System, how unfairly it operates and why binding to gold is abolished; why barter was banned; why the Dulles Plan - the American post-war doctrine against the USSR - did work; why large transactions can be conducted mostly in dollars and only with the use of SWIFT (Worldwide Interbank Financial Telecommunication channels); why no any other currency is quoted for such calculations. We need to explain this people to give them a possibility to get answers to those questions!
Here, as always, everything depends on the people who choose the time and object of the development. After all, there was a time somebody was engaged in popularization of the US dollar and its world domination. And it worked! It still depends on the willingness - of what we want after all. To do good and to be engaged in charity or just pretend to do all these things? Today the whole world will turn to charity! If people consolidated their efforts we would have been able to solve all ecological problems and humanity could travel through space, rather than sit in one-bedroom apartments and pay for gas and light! There is always need in people-actions! Those who will act rather than talk. This is exactly what E-Dinar Coin is into. It acts.
CoinMarketCap: Tell us about your team: what was preceded to E-dinar Coin launching? Did you work on other known projects in the area of cryptocurrency?
Insider My: In launching of E-Dinar Coin there were involved a lot of highly intelligent and talented people. We are not exaggerating when we say that E-Dinar Coin was created by the best specialists of Blockchain world and the world of online games, the best financiers and employees of the banking sector, employees and managers of p2p exchanges, major companies of different sectors of the economy, with vast experience in business, European and US financial analysts, programmers from China ... Those are people who worked on the creation of websites like Alibaba, former employees of corporations such as Google.
They not only helped with the launching of the project, but also they are involved in the development of updates and generation of improvements to the current system, because we will always strive to make the E-Dinar Coin service even more user-friendly!
CoinMarketCap: The most popular cryptocurrencies have their own source code in their public domain. Does it allow any user to check the integrity of the code, as well as help developers in identifying shortcomings. Why did you decide to keep your source code in secret?
Insider My: Information about the source code is available for programmers who are interested in the development and connection of cryptocurrencies to their applications, stores and exchange markets, with which we have been working since E-Dinar Coin has been launched and with whom planning a long-term cooperation. Our product is unique. Partially, we used the accumulated experience of other projects, but ultimately created a completely new project, combining together all the best peculiarities of blockchain used at various projects and platforms.
We occupied the niche which no one claimed before. And we do not open the code simply because now we do not want it to be used universally.
CoinMarketCap: Speaking about E-Dinar Coin putting together the best features of the various projects, for example, the presence of referral program in the project? Why are you putting so much attention to it in your marketing plan? How often people skeptically talk about multi-level marketing in the field of cryptocurrency?
Insider My: We consider E-Dinar Coin, in some way, as a game, based on the principles of blockchain technology. Players here can stay in their locations or open new levels, "pumping" their accounts. In general, there are 7 levels in the system (three levels - in China)
We believe that the true value is only determined by the involvement of its members in the cryptocurrency project: when people are engaged in mining, developing it and attracting new users, then the cryptocurrency value increases.
In most projects, the final participant is suspended from the most important - the management process. For example, we use a certain currency and attract my friends to use it. Does in change something for us? Do we get an extra income? No! This is happening because the process manages a certain company, like the ones that we mentioned above. In E-Dinar Coin there are no corporations, our greatest asset is the people! And participants in the project are aware of that, in fact, it determines the rapid development of E-Dinar Coin, as we are all united by one goal, one purpose.
CoinMarketCap: Tell us more about DPOs algorithm. What are its advantages over the PoS or PoW?
Insider My: DPoS mining algorithm was chosen in purpose. It is based on the need to prove the storage of a certain amount of funds in the account. Using this method, the cryptocurrency algorithm allocates new units in proportion to the current balance on the wallet. Thus, the obtained coins are allocated to the wallets of members who are the most loyal to the cryptocurrency. It means that each account holder can partially control the production of coins. It makes all members equally responsible for the most important processes, such as the reduction or growth rate, an increase of production or an increase of popularity! Anyone who keeps their assets in EDC is the owner of a new distributed system based on blockchain technology.
Bitcoin uses a PoW. Bitcoin mining is based on spending huge amounts of electricity, which is bad for the environment. Mining is not available to ordinary citizens, because they simply do not have such powerful computers. And it makes us much more interesting and accessible to ordinary citizens - EDC can be mined by using just a regular smartphone.
CoinMarketCap: On the official website you say that one of the objectives of the project is to combat air and water pollution by means of investment in urban projects, which is very noble and important. Can you give a few examples of such projects? What results have you achieved in this direction at the moment?
Insider My: E-Dinar Coin does not waste energy on mining, on the contrary, the system provides cryptocurrency to stimulate the production of clean energy.
We have already signed a preliminary agreement on cooperation with OneraSystems, renowned developer of solar power in Egypt, which provides implementation of the project of installing solar power with capacity of 50 MWp (megawatt / peak) to provide E-Dinar Coin with solar energy, as well as in order to continue the further development of the system.
At the moment, we are also discussing about our co-operation project with the Wildlife Fund (WWF). However, we will tell you later about our joint projects and the solutions, which we plan to achieve.
CoinMarketCap: You recently announced plans to expand the EDC users community to one billion of people and it is not an easy goal.
Insider My: There are registered more than half a million users in the project right now! The system of E-Dinar Coin is constructed in such a way that it allows us to increase the number of users to one billion and provide them with the necessary amount of coins.
Nowadays, in the world there are only three currencies, which can provide a billion of dollars, a billion of euros and a billion of EDC. All these currencies are transportable, but imagine how will you transport one million dollars or a million euros? Shipping in an aircraft or submarine? How can you ensure the safety of such loads? To date, the world's only fastest and most reliable way to conduct transactions is cryptocurrency. The user can deposit and withdraw money in any country due to the decentralized system.
CoinMarketCap: Analyzing the chart of the EDC rate, you can trace the period of active growth at the end of August and beginning of September, after that there is a lull in the growth of prices. How can you explain this break? Do you work together with the community over the resumption of the growing trend?
Insider My: It's not a correct question, because E-Dinar Coin is growing daily, so there is no need to work towards the resumption of growth.
Just think of these figures: now more than 500,000 people are registered in the system, while the number of transactions per day amounts to over 150,000, as well the daily number of users increased to 8,000-15,000 people! For comparison, 12,000,000 users are registered at the most popular Blockchain platform, and the number of their transactions amounts to 200,000 per day. This comparison shows the dynamics of our cryptocurrency, so we do not understand what the trend we need to renew?
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SOURCE E-Dinar Coin