In October 2008, Bitcoin, the first form of decentralized digital currency, was unveiled by Satoshi Nakamoto (whose name and background remains a mystery) and began operations in January 2009. Released as an open-source code, Bitcoin created such a system where transactions are directly between two parties, verified by network nodes, and recorded in a public distributed ledger. Many other crypto-currencies were established following Bitcoin, including Swiscoin in September 2015. Capitalizing on issues that Bitcoin has dealt with, Swiscoin has installed features that have made their system less scrutinized and more reliable for the future. It is now suggested that Swiscoin has become the better option to adapt to a crypt-currency that Bitcoin.
While Bitcoin has matured to its highest level with millions of users, Swiscoin will continue to grow at a high rate, making them more valuable. Like Bitcoin, it is decentralized and public, and it has, in its first year, successfully started in more than 90 countries. Unlike Bitcoin, which has an anarchic leadership made by consensus and by users, Swiscoinhas a company supporting the project: SCN Services LTD, based in Dubai.SCN launched Swiscoin in coordination with its developer, the Swistech Organization, based in the British Virgin Isles. On their website, Swiscoin states their ambition, “to become a Tier 1 company & the preferred global crypto currency,” while work with businesses to collaborate with Swiscoin as part of enhancement in the digital world. That way, people know Swiscoin isn’t just a free-floating group without any protection when working.
A key issue when using crypto-currencies is the security of them because of the fear of accounts being hacked. Every Swiscoin is made with a unique crypto-identity by electra-digitization mining technology and using different hash algorithms that is updated from Bitcoin. When it opened for business, Swisscoin used a level encryption process that was completed to secure transactions and prevented it from larceny and illegal duplication – an issue found on Bitcoin with black marketers, money launderers, and malware thieves. Economically, Swiscoin offers more rewards from mining and promotions. The transactions do not last as long as Bitcoin thanks to their own system which makes the process quicker; it will be also very easy to exchange currency between countries because there are no restrictions with Swiscoin. More developers are associating with Swiscoin open-source code and it continues to be expanding rapidly on the market. 3.1 billion Swiscoins were put on the market upon encryption and plans on expanding in the next two years when the demand heightens.
Bitcoin may last for a bit longer, but the constant questions over legality and their safety may cut off any growth of their survival. Swiscoin – and any other crypto-currency that is made now – will have studied off the problems from Bitcoin and now-defunct digital currencies in improving their advancement. Swiscoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency. And for those who don’t know exactly what cryptography is, they provide information on its use and relation to the digital currency revolution. Swiscoin has opened a new gate for investors, networkers, and bankers for the future in global economics.