42-coin is a unique and rare cryptocurrency that will never have more than 42 coins in circulation. It uses the Script algorithm and relies on a network of computers interlinked to the currency for verifying the transactions. The computers are compensated with a part of the earnings as their reward.
42-coin was developed in 2014 by a programmer named Hendo. It is faster and more rewarding than Bitcoin. However, the original website is not functioning and shows domain on sale. In Jan 2017 reports of its restructuring came out. Nothing further is available as of now.
42-coins are digital coins and can be used in several ways like cash. The usual debit and credit cards cannot be used in a similar manner. 42 can be used to make payments for services and goods purchased. There is a transaction fee charged which is much lower than what one pays on their credit cards.
Since it can be implemented in same ways as cash transactions, a certain amount of anonymity and privacy is assured. It will encourage peer-to peer- transactions thereby ensuring faster and more cost-effective transactions. It is more often used to tip individuals on IRC chats, social media, blogs etc.
Because it is rare, it has a very high potential value. Investing on it is a wise decision for seasoned investors. It will revive itself and possibilities of catching up its past performance are very bright. One of the primary concerns is about online frauds and it is a must that the wallets must be secured with encryption. Users must create and use passwords manually. It is also advisable to keep a backup elsewhere i.e. in a different system away from the business location. It could be a wise decision to use it for short-term investments
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