PutinCoin is a network of decentralized blockchain based on the cryptocurrencies like bitcoin. It adopts the Proof of Work (PoW) as well as the Proof of Stakes (PoS) methodologies. It is created as a tribute to Russia and the people in honor of their popular President. It is not created to make money. Rather it is a system that intends to make it fun and public-oriented where people can share the produce and distribute as per needs.
PutinCoin hopes to open plenty of opportunities for the people, organizations and other entities without much document processing and at a faster rate than being done now. The company wants to expand and make it more systematic and offer a payment solution that would help individuals as well as businesses across the globe.
PutinCoin works like the bitcoin but uses a different mechanism. Users need computing power to do their mining of PUT, the trading token of the network. It uses the Scrypt algorithm to enhance the security aspects while making confirmations of a transaction in the PoW form. Scrypt makes sure that there is no risk to the user’s PUT, when they mine or otherwise, from hackers, online fraudsters.
PUT can be collected in both the blockchain methods of proof of work and proof of stakes. PoS mining can be done on any system as it is compatible with all the leading technologies like Linux, Windows, and iOS. To ensure that the investors do not do away with their PUT, the company is offering 150% interest in POS. Another cost-effective benefit of PoS is that the users need not invest much in any hardware infrastructure. The Scrypt technology ensures the PoW miners have a secure and fast transfer of the coins to their wallets once they have successfully completed the mining. The wallet addresses are unique and users do not have to create any passwords.
PUT is completely decentralized and no authority has a control over it. With no single point of control risks of a single point of failure is eliminated. When the users are sure of the safety of the transactions, they develop trust and put in more effort to do better and earn better. This makes Putin more reliable and more efficient. The expectations are high. The company hopes that the digital currency will offer the investors better returns on their investments. It is an investment for long-term gains.
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