LOS ANGELES, Aug. 15, 2017 /PRNewswire/ -- WRIT Media Group, Inc. (OTCQB: WRIT) announced today several technology innovations within its Pelecoin cryptocurrency system, and plans over the next year to enhance its software platform by adding additional features and by expanding its ecosystem through new products. During the past several months, WRIT Media's development team has built the core functionality of its digital currency system, and now offers a new feature which enables users to mine four cryptocurrencies simultaneously by utilizing Pelecoin's proprietary mining algorithm software.
Pelecoin now provides an easy-to-use, downloadable software that allows for optimal mining by enabling users to mine Ethereum (ETH), Ethereum Classic (ETC), Zcash (ZEC) and Monero (XMR) simultaneously. This fast yet scalable system optimizes mining output and revenue by mining a "bucket" of four different cryptocurrencies. By spreading risk over a portfolio of digital currencies, Pelecoin's proprietary mining algorithm reduces price volatility and generates more coin than single cryptocurrency mining. Additionally users can safely withdraw and send Pelecoin to any external wallet that accepts transfers of ETH, ETC, ZEC and XMR, by using the platform's automated withdrawal form.
Now that the core system is complete, the foundation is ready for Pelecoin to expand and become a robust platform suitable for wider adoption, with updated core features and extensive new ones for its ecosystem. A series of new features will be integrated into Pelecoin to enable high volume transactions, security, optimized currency mining and trading, and other business tools which will provide a scalable ecosystem that can handle real-world commercial use.
- Additional currencies and hedging. Pelecoin will add to its mining platform up to eight additional cryptocurrencies, including Bitcoin, Litecoin, and hedging instruments which will adapt to the volatility of the marketplace, and further optimize system mining.
- Trading platform. Allowing users to spread their portfolio across real and crypto currencies via trading, means users will be spreading their risk. Cryptocurrency trading allows for larger blocks of transactions and lower transaction fees, enabling thousands of additional Pelecoin transactions - making the digital currency ideal for consumer applications.
- Pelecoin mobile application and wallet. Mobile app engagement and mobile cryptocurrency wallets allow users to store Pelecoin tokens and use them for everyday transactions - an important feature for addressing consumer use of any digital currency asset.
- Smart contracts. Many lessons have been learned from Ethereum's rise to prominence through use of smart contracts. Pelecoin's smart contracts - essential for any credible blockchain platform - will be developed to run for the price of a normal transaction and will allow for system token offerings.
- Security and anonymity. Multi-signature transactions will be developed and implemented, as will anonymous transactions. These are, again, critical for real-world business applications.
"Together, these measures will make Pelecoin a truly unique digital currency and ecosystem. It will be suitable for high frequency currency transactions, with the business logic and security features that are fundamental to the confidence that consumers and mainstream organizations require in a digital currency platform," comments WRIT Media Group CEO, Eric Mitchell. "As a result, Pelecoin will be better positioned for real-world applications."
Pelecoin is now available to the public by registering for a free Pelecoin account and by downloading the Pelecoin miner in order to start mining. For additional information and to register follow the link www.PelecoinInfo.com
About WRIT Media Group
WRIT Media Group, Inc. (OTCQB: WRIT) is a diversified media and software company whose operations include digital currency software development, including trading platforms and Blockchain solutions, content production and distribution; and video game distribution via mobile platforms.
The Company's portfolio of wholly owned business units include:
- Pandora Venture Capital, a financial technology company with a focus on its digital currency, Pelecoin, a new generation of digital currency, Blockchain technology solutions, and the CrypFXPro trading platform.
- Front Row Networks, a company which produces and distributes live event programming for worldwide digital broadcast to movie theaters and online streaming;
- Amiga Games, a company resurrecting the Amiga brand by publishing retro video games on smartphones and tablets;
- Retro Infinity, Inc., a video game distribution portal which publishes video games from Amiga, Atari and other "retro" brands.
Cautionary Note Regarding Forward-Looking Statements
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including, but not limited to, those discussed in WRIT Media Group's latest 10-K filed July 14, 2017. The company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Pelecoin, CrypFXPro and their related trademarks and names are the property of WRIT Media Group, Inc. and are registered and/or used in the U.S. and countries around the world. All rights reserved. All other trademarks belong to their respective owners.
SOURCE WRIT Media Group, Inc.