|Proof type||PoW + PoS|
Information About RawCoin
RawCoin is a private untraceable cryptocurrency, which got launch in market in the year 2016. Henceforth, it is being introduces as an enterprise ready solution for facilitating global trading and money transaction for purchasing goods. It is an international digital currency.
The coin’s transaction can be any point of time provides you connected to internet. It takes few minutes time (generally 2minutes/transaction) to process the payment as each of coin transaction needs cryptographic confirmation.
Safety and security
Like a true digital currency RawCoin seamlessly protects its users’ money with the help of secured and encrypted by latest cryptographic algorithm. Therefore, this security system is difficult to hack and that is why the coin’s transactions are 99.99% safe.
This digital currency has some specifications, which are unique in its own aspect; these are:
PoW + PoS Hybrid till block 10,000
PoW Algorithm: X15
1020 Coins/PoW block
PoW ends at block 10,000 (~3 of days mining)
~6 Million coins produced by PoW[other blocks created by POS] Pure PoS starts at 10,001
Block target= 30 second
Blocks to mature= 110 confirmations.
PoS interest 15% Annually
20 coins per PoW (Not POS) block go to the foundation wallet to pay for bounties.
Rawcoin currency is referred to as XRC.
How to join RawCoin network?
Accordingly, it is an open cryptocurrency, anyone on the Globe can be the user of this digital currency.For natural reason every user are permits to take part in network operation. Therefore, every user has to download a special software fir creating a personal wallet for doing transaction. The wallet will the gateway to receive /sent payment. Hence, this coin’s algorithms never allow other users to know others’ wallet balance, and transaction details.
It can be obtained in two simple ways: firstly, you can buy XRC on exchanges or secondly, you may take part in network maintenance and enjoy reward for your action.
The transactions between users can be performed via internet. Accordingly, each of the transactions is treated as private as privacy is protected by secured cryptographic algorithms where the details remain secret and anonymous.
Therefore, each of the transaction processing needs a considerable computational resource. Users operating in network may assign time of their computers for processing of transactions. As reward the users earn this coin and it is known as mining.
How RawCoin works
All transactions are complete virtually. In order to do RawCoin transactions, one has to XRC in his wallet. Each computer in this network will get the information of a transaction but nobody will get to probe into the transactions details. A computer included in the network can check authenticity of sender’s signature. It has no entrée to access personal data. Each computer in the network collects the transactions that need process and packs them up in a block.
Each block should conform to precise rules, which is a challenging task to resolve. Hence, each computer in the network calculates appropriate transaction block form. This is needed to defend the network from transaction falsification.
At one point of time one of computers in the network may turn fortunate to catch the right block structure. Then this computer in network places the block into its block chain file, which denotes the database for all completed transactions. Then that precise computer broadcasts the new block to all other computers within the network so that all computers could update their block chain files. The transaction gets final and the owner of the computer who found the correct block structure catches a reward.
Henceforth, users can convert Rawcoins into U.S. dollars and other currencies and vice versa by currency exchanging process.