Our ONECOIN Blockchain Cryptocurrency was created because a product called Onecoin is being marketed to our communities as a blockchain cryptocurrency without actually having a distributed blockchain. A group of investors calling themselves Concerned Citizens of Cryptoville saw this fraud as a blight on the cryptocurrency community so they hired ABCDe Coin Company to create a real distributed blockchain cryptocurrency and name it ONECOIN. This is being done as a public service.
HOW ONECOIN WORKS
The ABCDE Coin Company team has made much needed improvements on the original Bitcoin core source code in the creation of ONECOIN. They’ve decreased the block confirmation time from ten minutes to one minute while simultaneously increasing the block size from 1mb to 9mb. They’ve also employed both Proof of Work (POW) and Proof of Stake (POS) algorithms along with CPU and GPU mining platforms to ensure everyone can mine and/or profit from this new ONECOIN. There will be 51 million ONECOINS created over 32 years. 5 million pre-mined ONECOINS will be distributed to investors, developers and pre-sold to the general public.
OPEN SOURCE SOFTWARE
Onecoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.
The Onecoin blockchain is capable of handling higher transaction volume than its counterpart – Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future.
As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending Onecoin.
This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.
Miners are currently awarded with 25 new Onecoin per block, an amount which gets halved roughly every 4 years (every 840,000 blocks).
The Onecoin network is therefore scheduled to produce 84 million Onecoins, which is 4 times as many currency units as Bitcoin.
Calculate how much you need to spend in fiat currency to purchase One Coin.