Tagcoin is the world’s first universal rewards currency that can be used anywhere across the globe. People can earn it, make transfers with it, exchan
Tagcoin is the world’s first universal rewards currency that can be used anywhere across the globe. People can earn it, make transfers with it, exchange it or even receive interest on it. The cryptocurrency is fully decentralised and can be used within the Tagcash online wallet platform. Tagcash, on the other hand, uses the blockchain of Tagcoin which makes both the currency and the platform interrelated. Tagcash offers e-wallets that support multiple currencies and even closed loop currencies created by companies for internal use. As the circulation of Tagcoin grows and the services provided by Tagcash increase, the value of the currency grows as well.
Tagcoin was launched in November 2013 and is based in Makati in the Philippines. The cryptocurrency uses a proof-of-work and a proof-of-stake hybrid system and has a creation limit of about 3,000 coins a day. When the company started, there were no premined coins. The time between blocks is four minutes which balances between speed and sustainability. The number of coins generated per block is thought differently than the one of Bitcoin for instance. Instead of halving the number of coins every four years, Tagcoin uses a subsidy reduce by 1% every three months. This makes changes much more smooth and gradual. In addition, there is a minimum block reward of three Tagcoins so people are always motivated to mine. Before this minimum is reached in the first 30 years, less than 100 million coins will be generated.
People can make instant payments with Tagcoins to any person around the globe that also has a Tagcoin wallet. Users can earn coins by GPU mining or on Tagcash.com. The platform rewards users who buy products, pay bills or salaries, share adverts on social media or make use of its services. People can also buy Tagcoins on exchange platforms such as btc38.com, cryptsy.com, bter.com or within tagcash.com. using the exchange that runs on the website and the mobile app. Users that already own some Tagcoins can even earn interest, which is 5% per year, just by keeping their wallet online and open to the network. After the first 30 days of storing coins, every user can start earning either Tagcoins or pesos on an interest basis every month. Tagcoin works with the operating systems of Windows, Mac, Linux and Ubuntu. Despite the fact that Tagcoins can only be traded for local Peso currency, the cryptocurrency still has the potential to expand into numerous markets. In fact, Tagcoin is mined and traded mostly in China but will hopefully expand far beyond a few countries.