A virtual currency that makes use of cryptography for security is the cryptocurrency. It is difficult to replicate or counterfeit and is not issued by
A virtual currency that makes use of cryptography for security is the cryptocurrency. It is difficult to replicate or counterfeit and is not issued by any central authority which renders it immune to depreciation, government interference or manipulation. The first cryptocurrency to ever flourish in the markets was Bitcoin which was released in 2009 by a group called Satoshi Nakamoto. The cryptocurrency became a fast and reliable method of payment with a worldwide scope and also gave life to a dynamic and fast growing market for speculators and investors to work with.
Other various types of cryptocurrencies making their mark in the field are Ethereum, Ripple, Dash, Sync, Golum, etc. In the case of Bitcoins, the cryptocurrency can only be mined by miners who solve a cryptographic puzzle in order to confirm a transaction. Only a specific amount of cryptography currency can be created at a time, owning to the amount of computer time invested by miners to solve the puzzle.
What is Sync cryptocurrency?
Sync is considered the first of its kind and is an asset based, profile sharing currency that is more of a club membership than a coin. The asset for the currency is backed by the domain names which are held by the Sync Foundation and SyncFund.com co founder, Mike Fiol. He has been in the domain industry for years and was quoted saying that the Sync coin is more of a club membership and an investment rather than a currency like the Bitcoin.
Not only is it a verifiable asset base, it is also going to be the first to offer a way to share profits to the holders involved in the Sync Profits program. The company’s press release stated that the Sync holders have a share in multiple commodities and the coin is currently being traded at $468 with a market cap of $520,000. The price is expected to double in the coming months and trade higher than Bitcoin.
Sync is still under priced since the market has yet to understand the value and basic info of its assets and how investors can diversify and profit by making use of the Sync before crypto awakens. However, getting paid for the asset sales of the company involves enrolling in the Sync Profits profit sharing program. In order to qualify for this, the applicants must have purchased a minimum of three Sync coins and whenever a sale is made, a net percentage gets calculated and gets added to the members’ program.