BEIJING, Aug. 12, 2016 /PRNewswire/ -- E-Dinar international p2p exchange platform announces the launch of the new E-Dinar Coin cryptocurrency that will become a true revolution in the world of the cryptocurrencies! In order to create a new-generation product, the community carried out a deep and thorough analysis of the cryptocurrency market, studied the successful cases in details and took into account all drawbacks of the existing projects. The protection of E-Dinar Coin is built on using the advanced proof-of-stake technology.
Proof-of-stake (PoS) is a method of the cryptocurrency protection based on the need of the proof of keeping a certain amount of funds in the account. When using this method the cryptocurrency algorithm is more likely to choose an account with a larger amount of funds for the confirmation of another block in the chain.
The principle of the E-Dinar Coin algorithm is as follows: during the performance of the transaction it is must be confirmed tenfold; each of the computers, confirming the transaction, receives remuneration that is calculated in the following way: it takes into account the age of the coins that are stored in the user's account and upon the reach of the age of adulthood it increases within a number of days (period) depending on the amount that was held in the account of your wallet and multiplied by the interest rate (up to 0.65% per day).
What is a cryptocurrency?
This is the greatest innovation of the financial world in recent years. The term "cryptocurrency" means virtual currency that is protected by cryptography. First of all, this is a fast and reliable payment and money transfer system based on the latest technologies beyond the control of any government. Crypto means "hidden" or "secret." Accordingly, none of the banking systems affects the mining process, cost and number of cryptocurrency.
The advantages of using cryptocurrency in the stores, restaurants, and fast food places.
Today, in the US over 100 restaurants work and accept cryptocurrency as a mean of payment. According to CoinMap, nowadays over 7600 places (restaurants, cafes, bars, stores and supermarkets) allow users to freely buy goods and services by using digital cryptocurrency.
In the process of implementing a new project, E-Dinar is also developing a network of partners among the stores and restaurants (consumer network), which allows the system users to buy goods and pay for services at a discount.
Let's look at a few key benefits of using cryptocurrency as legal tender for restaurants:
Cryptocurrency allows to maintain and develop the business completely, without the need to use bank accounts and cards.
By accepting cryptocurrency, you can instantly redeem it to cash.
This is an additional advertising tool, which attracts the attention of mass media, as well as of a new audience for your restaurant - from the internet geeks to Silicon Valley businessmen as well as the owners of promising startups and they are often the opinion leaders and can bring the attention of thousands of people by one post on a social network.
Ability to pay with the use of cryptocurrency change consumer attitude to the institution, it increases loyalty and highlights the uniqueness.
Ability to pay using a smartphone with iOs (Apple iPhone) or Android, as well as using the tablet or laptop. The payment procedure is simple and the most protected in terms of safety.
E-Dinar Proof-of-stake System Advantages:
It does not require any costs for saving energy and storing a huge database and mining farms;
It has a strong resistance to attacks;
There is no choice of hashes for mining;
The income from mining is proportional to the amount of balance on the wallet;
0.65% of bonuses accrue daily to the amount on your wallet.
E-DINAR Coin is a new cryptocurrency that seeks to purify the air and water in big cities. It is a fully decentralized payment system, operating on an open accounting blockchain technology and uses the proof of stake technology.
Main information on E-Dinar Coin
Brand: E-Dinar Coin (or EDR)
Mining prestart: August 15, 2016
Fee for transfers between wallets: EDR 0,1
Block Time: ~ 5 sec
Number of coins (max.): 999.000.000.000.000 (999 trillion)
Premining total number of coins: 2.500.000.000 (2.5 billion)
Hashing Type: X11 - more resistant to cracking, compared to sha256, which is used by Bitcoin.
The simplicity of the promotion to cryptocurrency exchange markets - virtually all exchange markets support Bitcoin API.
E-Dinar Coin advantages:
E-Dinar Coin is a unique cryptocurrency. Issuing of new coins is carried out due to the daily mining charges (up to 0.65% per day) and affiliated referral bonus user network
E-Dinar Coin is environmentally friendly. The modern and secure algorithm of mining, using the proof-of-stake technology without energy consumption.
Globality. E-Dinar Coin plans to provide all residents of Earth with the sufficient number of coins in the purpose of the independence from other money
The system is completely decentralized: without centralized control, single organizer of trade and issuer. Each participant of the system has full access to the statistics of the transactions of mutual settlements
The anonymity of ongoing payment processing and issuing of E-Dinar Coin. All participants interact with the system without any restrictions in terms of centralized control
First purchasing of the E-Dinar Coin currency through the p2p platform. An opportunity to become an owner of the new global international cryptocurrency which has no alternatives
E-Dinar Coin objectives:
Development of Blockchain technology
A new approach to the philosophy of monetary relations based on the principles of Blockchain technology: open-book accounting. Decentralized accounting of monetary relations, inability to issue additional funds for their own purposes, except Blockchain algorithm
Financial independence from the central and commercial banks and other financial institutions
Absence of the international and national control
The final number of coins will be released within 33 years
Measures to fight air and water pollution, deforestation
E-DINAR Coin will invest the part of its income in the development of new urban projects that are aimed at providing the city with clean water and fresh air as well as at reducing the heat island effect in urban areas, the level of pollution and climate change in general on the planet.
In addition, the future cryptocurrency already has the partners (partner stores) that are able to offer products for the E-DINAR Coin, as well as P2P exchange platform and the major Chinese and international cryptocurrency exchanges that cooperate with E-DINAR community, which will provide the E-DINAR Coin with high liquidity.
The official launch date of the new cryptocurrency is August 15; the press service will report all details that you can learn from the news on the official website of E-Dinar or community's social network sites.
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SOURCE E-Dinar Coin