There is a lot of interest in the cryptocurrency industry due to the performance of Bitcoin and other cryptocurrencies in 2017. For the first time, people have started to believe that cryptocurrencies have the potential to supersede fiat currencies as the key form of payment processing and remittance. Before this happens, cryptocurrencies have to solve the big elephant in the room, the fungibility problem.
What is fungibility?
Fungibility simply refers to the ability of a means of payment to be exchanged with a similar unit of the same value. An example is the swapping of a dollar with another dollar. This does not raise any eyebrows. However, cryptocurrencies like Bitcoin and Ethereum do not have this feature. Such cryptocurrencies have a history that can be tracked by looking at the transaction history in the ledger. Therefore, the value of a coin from a drug dealer has less value.
How Velozcoin solves fungibility issues
Only when a coin is truly fungible will it be able to be easily transferable to facilitate payment processing. It also provides the privacy that Satoshi Nakamoto envisioned. Velozcoin is based on a Blockchain that is more secure than most existing altcoins in the industry.
Architecturally, it is built using the X11 algorithm. This is more advanced that SHA256 or the Script algorithm because it relies on 11 hashes. It makes it more secure, and the speed is as high as MH/z as due to the low latency of the APIs. Additionally, it relies on masternodes to ensure that the coins are mixed. This makes the coins fungible and untraceable. As a result, Velozcoin can be used for payment processing. Additionally, the proof-of-services approach ensures that the masternodes are working effectively.
Apart from solving fungibility, Velozcoin also features InstantSend that provides real-time transactions. This facilitates the payment processing and remittance services that are better than the existing platforms, by providing fast transactions.
At some point, the fungibility problem will become a serious issue for most altcoins. However, privacy coins like Velozcoin are the future of cryptocurrencies. Velozcoin can truly replace fiat currencies as the main form of payment. You can easily envision a future where all online and offline transactions are conducted using Velozcoin. It will not only be secure, but it will also have the privacy that has eluded most of the existing altcoins.
Join the Velozcoin revolution
Velozcoin will be launched in the near future, and you can take advantage of the tokens sale discounts to get your hands on some VLZ tokens in advance. The discounts are provided based on the early bird approach. Those who are involved in the presale will earn a 25 percent discounts based on the launch price. The ICO will start with 20 percent that will reduce each week.
The crowdsale is the opportune time for investors who want to earn some revenue based on the initial price. Velozcoin is one of a kind in the cryptocurrency industry. Join the revolution as we bring privacy and confidentiality back to the cryptocurrency community
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