Soarcoin is a digital coin that is designed to work as an online currency on similar lines as the original bitcoins. It is launched on the Ethereum network and uses the blockchain network. The digital coins were created by a Singapore-based company called Soar Labs with the primary motive of letting the users make instant payments online and even at physical retail stores.
The SOAR cryptocurrency envisages itself to become an affordable and reliable substitute to some of the existing cryptocurrencies. The project is open source and based on the Ethereum blockchain technology with the objective of providing digital wallets improving the efficiency and transparency of each transaction and payment.
Soarcoin looks to maintain and enhance its features in comparison to the other cryptocurrencies. Like most of the others, it follows the blockchain technology using the Ethereum network. SOAR tokens can be purchased at a few exchanges that include Ether Delta, Livecoin, C-Cex etc and buy it from investors that want to sell the tokens.
The company has already released 5 billion SOAR tokens and no new token are likely to be released. It is secured, non-minable and enables quick and smooth transactions that can be completed in seconds. This in a way assures of the price stability and low risks of inflation. The price may only increase with demand.
Soarcoin can be used for purchases and transfers at any time, from anywhere so long as the user is connected to an internet. The interaction can be done with any organization or an individual without any restrictions. While it assures of complete transparency, it also ensures identity protection.
Soarcoin does not function entirely like a banking system rather, it is more like using currency. The digital currency does not require any account numbers nor does the user need to share any of their personal information with anybody. There are no middlemen or entities involved which cuts down the costs. The payments and transfers made cannot be reversed which comes as a reassurance to the merchants about the security of a transaction.
Soarcoin has an approximate market cap of $18.492 million and having completed its total supply, not much of volatility is expected. Its value will change depending on its acceptance and implementation. The significant reason for its scope lies in the fact like all other digital currencies, SOAR too guarantees low operational expenses, higher reliability, fast and simple processing of payments.
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