NeuCoin is one of the most innovative cryptocurrencies that was introduced in the market on September 23, 2015. It is a peer-to-peer digital marketpla
NeuCoin is one of the most innovative cryptocurrencies that was introduced in the market on September 23, 2015. It is a peer-to-peer digital marketplace where the users transact freely with no central authority. Like the rest of the cryptocurrencies, NeuCoin is a digital currency that can only be used online. As a Proof-of-Stake (PoS) system, the currency pays interests as it’s staked. It is not an official currency and has no central control as it is with central banks. The currency occurs freely online and the more you mine, the richer you get.
How NeuCoin transactions are made
NeuCoin transactions take place between the users directly, and there are no intermediaries. As a virtual currency, it enables the user to keep adding to the wallet. In many instances, the user will earn the coins by participating in competitions. A win will be rewarded with a certain number of coins, and this is what is referred to as the mining. For any transaction that is verified the user is awarded some coins. This is how the wallet gets richer. Any transaction must be verified by the network nodes to ensure that only authorized users are getting access to the marketplace.
The currency is designed to exploit the architecture of the internet. It addresses the slow transactions verifications associated with formal institutions. With this cryptocurrency, all transactions are checked by the user’s computers on the currency network. Quick confirmation for the transactions is one of the benefits that users enjoy from this market. Its ease of use for the regular consumers is one of the factors that made it popular. The platform was designed that new users can start for free from zero as they mine to grow their worth in the markets. NeuCoin distribution is to all users who participate in its growth in value and utility. This is the reason why every transaction that is verified earns you some coins.
Like the common currencies, the cryptocurrency can be used to buy goods and services in some retailers. Depending on the amount if the coins that you have, you can convert them into real currency and make purchases in selected stores. The coins can also be used as “tips” on some sites. As a PoS model, NeuCoin is expected to growth in a big way for the next ten years. As a matter of fact, the supply of the coins held by the NeuCoin Foundation is expected to grow from 3 billion to approximately 100 billion. This proves the potential that the currency has on the digital platform.