RecordsKeeper – The Main Features of Network’s Custom Token Utility

RecordsKeeper might be offering a common service, but it’s something that most organizations and private citizens can’t seem to get enough of the chance to have an organized method of storing their data in a structured fashion. In the case of this startup, they have chosen to work with a NoSQL database on a decentralized network that will grant users instant availability of their data files and the possibility to share them using secure, promptly methods that guarantee the integrity and authenticity of the data. All these transactions will be powered using the XRK utility token, which a distinctive method of functionality that is explained over the next few lines.

photocredit

Introducing the XRK Utility Token

XRK are the native token used in the Recordskeeper platform. The tokens are used to partake on P2P transactions. They also power the economy of the network’s ecosystem. Users need to gain access to XRK to cover the fees required by the system to handle data transfers. These tokens can either be paid for on exchange services or by mining a particular block to secure ownership of a segment of the Blockchain.

Using the XRK Tokens

As stated the XRK token previously is used to fuel the ecosystem for the Recordkeeper platform. When a user chooses to mine the token, he will gain the ability to upload information to their section of the Blockchain. The XRK tokens mined will be used as payment only when a data transfer between users take place, but the main advantage of mining the token will be reward obtained for mining the block in the form of the tokens needed to keep making transactions and the additional space obtained for each mined block. The current rate handled by the platform is of 0.1 XRK for 1KB of data. To get access to a full Megabyte, you’ll need to mine 100 XRKs.

How to Handle XRK Mining

The scheme used to mine the XRK utility token is very similar to the one used by established miners to obtain Satoshi. The wall facing a newcomer to the digital currency world is the fact that mining for Bitcoin is a very different process than mining other currencies. Recordskeeper has implemented a method that sets constraints on the numbers of blocks that can be mined by a single user, thus giving a whole new meaning to multichain methods of mining. The constraint means that each block mined by an individual must be verified and validated by the system to avoid the pump and dump schemes that have made Bitcoin so hard to obtain.

XRK Reward Programs

Constraints don’t mean that the XRK token is a difficult asset to obtain. Once a user follows the set regulations to obtain their individual blocks they can collect rewards that can go up as high as 10,000 XRK tokens just by joining in. Continual interaction and support will be tracked down by the Blockchain, and it will report back rewards in the short run since the token allocation of the company to keep the levels of engagement is placed at 10 million XRK. To learn more about the token utility of Recordskeeper and how much it can improve the data management industry you can visit :

Website
Telegram