Outstanding implementations of cryptocurrency

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Cryptocurrency works in on-demand supply. It is an on-demand supply because coins can always be made once they are created. Cryptocurrency is also known as the digital currency because of its function. Its name “cryptocurrency” stands for the theory and practice of holding and managing cryptocurrency. Of all currency, cryptocurrency is considered the fastest growing and secure currency.

Currently there are 17,621,551,006.76 hard forks for cryptocurrency. Online currency transaction world website says that is 64% of the total number of transactions, by November 2018. It looks like more than just the size of the number, it seems like a bubble just in the start stage. Overall, it is possible to say that the demand for crypto is not yet met.

On-demand monetary supply means that at the same time people can buy the coins from someone else by pushing out creation and are also able to sell their coins for money. Today there are a lot of online services have been added to attract more users. We have QR codes to use for advertisements or to be able to generate traffic and sales. Furthermore many websites and blogs have “how to set” information for users to set up. These are simply ways to get someone to show interest in your website.

Those are features people use today. There are also rich web pages and resources available to take users through more on-demand currencies. We have already discussed on how the currency came to life. I, like lots of people did not really know about this currency until now.

Today what I really want to talk about is the roadmap. This roadmap is how we can meet our economic goals. We are talking about transaction time, satisfaction and security. To create the future we have to meet the following points:

• Kink-

Kink is the alternative name for zero-dollar to minimize transaction cost. It’s one of the main reasons we chose to not use the logic of conventional payment systems (E-bay, PayPal, Stripe) and use our virtual currency, for the first time. As we all know in conventional payments transaction times have high transaction costs because the result of a transaction is immediate. We choose Kink to keep transaction time for our service the same as the E-bay payment systems. We need to be efficient for our future customers so we don’t need to increase the transaction time (Transaction time = transaction cost + transaction fee). We have made the transaction cost of user account fee equal to a fraction of every transaction, as our average transaction size is 24000!

I will be comfortable if we get by with an average transaction fee between 0.25 and 0.6% for today’s transaction fee. So the transaction cost for transaction is somewhere between 0.2 and 0.5%. Transaction cost’s prices are listed below.

We will have this price coming down as the transaction volume increases

• Miners

We want to get by with miners so mining system would be consistent and quick. We chose the idea of mining system which is de-centralized. We decided to make this decentralized because of the fact that no service provider receives a commission fee on the transaction. This system is performed by its own network. In Cryptocurrency system each service provider receives a commission fee if they perform this transaction on their platform. a large percentage of the miners are responsible for this transaction the miners make a commission of 20% to 25%

• Repayment method

When we talk about debit card reloading mechanism, the government always wants to regulate it. We decided to do a subscription pricing system for our system. This pricing system means that the individual pay per transaction but for the bigger transaction because we don’t have transaction fees we make a minimal transaction charge for each transaction. We decided to have a minimum transaction charge of 1.01 instead of 1.00 so each transaction would cost 1.00. This small movement costs less than the charge users get from their debit card.

• Implementation and analysis

After an in-depth analysis we decided to not use any technology on blockchain and we will use Hashmap and MongoDB.

• Hashmap

Hashmap is an open-source blockchain. They are free software on Sourceforge. They provide many libraries and debug tools to serve the internet. In a short time most of the country blockchain were trying to use this open source blockchain for multiple projects. At a previous stage in bitcoin we use hashMap and nowadays we use this blockchain to improve our system for our user.

• MongoDB

MongoDB is a storage database platform written in the modern JavaScript programming language, so all important data is stored in the memory. The modular, open architecture provides parallel processing, so the database is fastest for real-time data. MongoDB is popular for fast search, and building scalable, collaborative database clusters. MongoDB is a trusted cloud database for lots of different uses