Cryptocurrency Review: WorldCoin

Cryptocurrency Review: WorldCoin

In simplest of definitions, Worldcoin is cryptography secured digital currency (2nd generation). Similar to its predecessor, Bitcoin, they both boast

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In simplest of definitions, Worldcoin is cryptography secured digital currency (2nd generation). Similar to its predecessor, Bitcoin, they both boast several similar characteristics although Worldcoin is slightly more enhanced and subsequently business friendly.

The underlying objective of Worldcoin is the most preferred cryptocurrency popular with both consumers and merchants while going about their daily transactions, however, simple or complex. How does Worldcoin ensure this? It is characterized by both security and speed.

By only a few clicks, you can instantly transfer funds to all your relatives and friends since the entire transaction takes a maximum of just 60 seconds. Besides being a reliable currency, the sensible money principles by which it is centered make it a wonderful selection in ensuring wealth preservation.

As opposed to paper currency, it has been made to gradually appreciate value-wise. Why? Just 265 million coins get to be produced. Such benefits are what define Worldcoin as a predominant choice for a majority of users.

WorldCoin is a universal currency and it can be bought or sold through the multiple available online exchanges and or even use of exclusive ATM machines. Worldcoin eases the transfer of funds across the globe significantly in that payment sending and subsequent receiving happens in mere seconds and is as easy as sending an email.

In comparison to other available payment options, transaction fees related to Worldcoin are significantly lower a feat possible since it allows direct transfer of funds between users devoid of third party provisions like banks.

Finally, Worldcoin allows you the option of deciding the much information of yourself you reveal when sending payments. As such, you are well able to avert identity theft concerns as is rampant with traditional methods of payment.

UNDERLYING CONCEPTS:

· Mining: Individual miners generate Worldcoins. Currently, miners are awarded an amount of 50 new ones per block which reduces by 1% on a weekly basis. With more miners, transaction network gets more secure.

· Blockchain: In comparison to its counterparts Bitcoin or Litecoin, Worldcoin is well designed to handle higher volumes of transaction. Moreover, owing to a recurrent (30 sec) block generation, this network is able to accommodate more transactions devoid of future software modifications. This enhances transaction speeds and reduces waiting time.

WHAT SETS WORLDCOIN APART FROM THE REST? 

· Fast: With transactions taking 60 or fewer seconds; and only requiring few clicks, it is a fast and ideal payment option for virtually all customers and merchants.

· Secure: With features such as wallet encryption, application of attack systems of protection such as DDoS and reliance on public transparent ledgers, this transaction is more secure than any traditional means of payment.

· Open Source feature: Being a free software development, it offers you power to not only run, but also copy and freely disseminate the software as you wish.

 

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