Cryptocurrency is essentially digital money traded from one person to another through the use of pseudonyms. There are no intermediaries like banks, no governmental oversight or authority, and no fees. The "crypto" in cryptocurrency refers to the use of cryptography to ensure the security and privacy of every transaction.
New coins are created through a technique called mining. The process requires powerful computers that solve complex math problems. Each problem should take about 10 minutes to solve, and results in the creation of a predetermined number of coins. The total number of coins that can be created is fixed — there's a limit of 21 million bitcoins that can be created. The number of coins rewarded for solving each problem dwindles as time goes on.
Bitcoin is believed to have been created in 2009 by Satoshi Nakamoto, an enigmatic figure who has so far proven all but impossible to definitively identify. By using cryptography to control the creation and tracking of a digital currency, Nakamoto took that power away from central authorities like governments.
Bitcoin was the first and most famous digital currency, but you can choose from more than 1,500, including ether, litecoin and even cryptokitties. For awhile, you saw these currencies only in the darkest corners of the internet, where people used them for all sorts of questionable, even illegal, activities. Drug dealers liked them because they made transactions all but invisible, and trolls at the Kremlin-backed Internet Research Agency used bitcoin to finance their campaign to influence the 2016 election.
That started to change in 2014, when Overstock became the first major US retailer to accept bitcoin. Companies like Expedia and Microsoft followed suit.
One of the biggest misconceptions about cryptocurrencies is that you need thousands of dollars to invest. It's an easy assumption to make, especially in the case of bitcoin, which stayed under $1,000 from about 2010 to 2017. But then it took off, surpassing thousand-dollar milestones at a pace that seemed quicker than you could refresh your phone.
The staggering value is off-putting to many. But unlike most stocks, you can buy a fraction of a bitcoin so you don't need thousands to get into the crypto game.
Due to this, Stable coins were created to solve the problem of volatility as cryptocurrency adoption has been bottle-necked around price stability and also in the area of crypto collateralized coins.
This helps to create the possibility of creating a crypto collateralized stable coin that combines pure crypto exchanges, a solvency system and the Cryptonote protocol.
CRYPCORE
Crypcore is creating a crypto asset that enforces a solvency system which eliminates wild price swings. Crypcore is essentially the combination of a crypto-collateralized digital asset with a solvency system to ensure price stability.
PROBLEMS AND SOLUTION
Too much power on the part of the issuer
Stable coins can effectively be taken out of circulation at any time by the issuing organization. e.g the Omni Protocol of tether can grant and revoke tokens represented on the blockchain but with Crypcore this is not possible because of the technology that Crypcore is based on.
Over issuance
The biggest problem with most stable coins is that they are issued the same way central banks issue money, this makes them vulnerable to over issuance and susceptible to inflation but the quantity of Crypocore in circulation is determined by the emission logic of the Cryptonote protocol and is visible to all.
Unstable Virtual Collateral
Virtual Collateral is itself unstable so using it to back a stable coin is difficult and confusing while crypcore uses its technology to solve this problem.
Highly Regulated
Fiat pegged stable coins are highly regulated and constrained by legacy banking systems.
Expensive, slow liquidation & purchasing
Liquidating stable coins can be slow because with most stable coin providers you need to wire money to your account which will incur bank fees. Purchasing can also be slow as you sometimes need to undergo KYC procedures and transfer money which can sometimes take days.
Complex Smart Contracts
For crypto-collateralized digital assets like Maker Dai there is a problem of understanding. For regular everyday users the terms can seem unnecessarily complex. Crypcore will implement a very simple solvency equation system with easy to understand equation and parameters.
Poor Anonymity with stable coins
Stable coins do not offer any level of anonymity.
CRYPCORE WALLETS
Crypcore means to be available to even non-specialized clients, wallets will be accommodated a wide scope of stages. There will be work area wallets, direction line wallets, equipment wallets and web wallets. After the culmination of the Web Wallet improvement for android and iPhone wallets will start. The web wallet is as of now being developed you can discover screen shots underneath.
HOW CRYPCORE WORKS
Crypcore is forked from Monero which is based on the cryptographically secure and genuinely unknown Cryptonote convention, the Crypcoreecosystem unites a dissolvability condition, an unadulterated crypto trade and the Cryptonote convention to make a coin which has a steady cost with cost solidness accomplished by averaging the guarantee increment with value variances.
With this impact Crypcore is a steady coin which works in an on a very basic level distinctive approach to customary stable coins, we will consider it a Dynamic Stable Coin (DSC). Crypcore will acquire security from the expenses charged on the Crypcore trade, these expenses will be added to the insurance of the Crypcore coin hence continually expanding the guarantee and keeping up the soundness of the Crypcore Price. Crypcore isn't to be seen as customary cryptographic money stable coin yet rather another and creative way to deal with accomplishing value strength in the digital currency space.
Crypcore System
Well known stable coins are pegged against the US dollar and have a 1:1 proportion, Crypcore then again won't be pegged at 1:1 yet will ascertain the cost from guarantee held. In that angle Crypcore can't be viewed as a steady coin in the conventional feeling of the word. Crypcore will be comprised of various unmistakable parts working pair to keep up the cost of the Crypcore coin these will be: Crypcore Blockchain, Crypcore Mining, Crypcore Wallets and the Crypcore Instant exchange.
Crypcore Exchange
Crypcore trade will assume a significant job in dealing with the cost of Crypcore. To do this Crypcore Exchange should get things done in a whimsical way. An extremely straightforward dissolvability condition will decide the evaluating of Cryps. In typical stable coins the tokens are given by the essential association however Crypcore trade won't have the option to make tokens, rather each coin is mined.
This is on the grounds that the protection and security of our clients are of most extreme significance. With the end goal for Cryps to hold their worth the underlying cash supply is mined and held by the Crypcore trade. The Cryps held by the trade won't be viewed as being available for use. The Crypcore trade as of now is an unknown moment trade. These are screen captures of the trade.
TOKEN DETAILS
Token name: crypocre(CYRP)
Accepted payment: BTC, ETH, LTC
Soft cap: 3million
Hard cap: 7million
1 crypcore: 0.00001 ETH
Min/Max Personal Cap: 0.01 ETH / No limit
TOKEN DISTRIBUTION
65% - Token for Sale
10% - Marketing
15% - Team & Advisors
9% - Reserve
1% - Bounty
ROADMAP
Q2 2019 - Idea Realisation & Research
$50,000 private funding
Q3 2019 - Architecture Design & Whitepaper publication
Q4 2019 - Launch Crypcore Instant Exchange
Launch block Explorer
Start trading crypcore on exchanges
Q1 2020 - Launch Web Wallet
Q2 2020 - Launch Mobile Wallet
Q3 2020 - Launch New features for Crypcore Exchange
MEET THE GREAT MINDS BEHIND THIS WORK
Shehzad Khan
Chief Executive Officer
Kashif Khan
Chief Marketing Officer
Peter Akporume
Chief Technology Officer and Lead developer
Hamza Khan
Advisor
Owais Ahmed
Advisor
For more Information, Please visit the following sites:
Website: https://crypcore.com/
Whitepaper: https://crypcore.com/crypcore_whitepaper_version_1.pdf
Telegram: https://t.me/crypcore_group
Facebook: https://www.facebook.com/Crypcore-106479097438958
Twitter: https://twitter.com/crypcore1
Reddit: https://www.reddit.com/user/crypcore
Author: Seunola
MyBitcoinTalk profile: https://bitcointalk.org/index.php?action=profile;u=1925064
ETH Address: 0x3eb48CF7E0A5570540641DD8263cA40e307562e9