POWERCHAIN: The Revamped Solution For Payments Using Digital Assets
Hello Guys.
Today, i want to talk about a revolutionary project called PowerChain that seeks to improve payments with cryptocurencies and provide real-time usage of crypto as we know it. Without further ado, lets dive in.
Introduction
We depend on innovative technologies everyday of our lives for various purposes, either at work or at home, or wherever we may find ourselves. This dependence on technological innovations has been a pointer at knowing where such technologies need improvement, and thus technology keeps evolving with better innovations being created. When the blockchain technology was created, it came as a surprise and also created disruptions in the financial market, across different sectors and instructions. Despite its slow reaction to adoption for mainstream use yet, the popularity of the technology has continued to spread far and wide, because of its many abilities.
Regardless of the fact that the blockchain is a very helpful technology that is both effective and efficient, it has been discovered that the Blockchain technology has flaws that have the ability to be a major setback for the technology if not attended to. The blockchain technology comes with various limitations that could prevent it from being a mainstream innovative technology, some of these flaws include its dependence on miners, susceptibility to 51% attacks, block size, among other flaws. In light of this, a newer technology has been created to put a check on some the flaws the blockchain technology. The Directed Acyclic Graph (DAG) looks to be a competitor against the blockchain, as it has the abilities to create digital assets without going through the same processes as the blockchain technology and also overcoming the flaws found in blockchain. And this brings us to POWERCHAIN
PowerChain: DAG-Powered Platform
The PowerChain network is one that was created using the DAG technology, and its functionalities differ from that of the blockchain technology, in that, transactions are faster, and the security is blockless, hence there are no mining activities. The DAG-based digital asset hopes to change the way crypto-based transactions are executed, and thus make DAG applications more acceptable, effective, efficient, and make cryptocurrencies a mainstream technology to be adopted by companies, businesses, and individuals. PowerChain is created to function as a financial technology network that will allow users perform the same functions as they would if it were the traditional banking system, thus giving users a more functional and easy-to-use alternative to fiat currencies and the traditional banking systems.
PowerChain Package
PowerChain is a network platform that is made up of other products necessary for the smooth operation of the platform, and also to make transactions much easier for the users within the PowerChain community.
At the moment, there are four products from the PowerChain company, and they include; PowerPay, PowerStack, PowerCard, and PowerExchange.
PowerPay is a payment system created with the intention to make payment transactions much easier on the PowerChain network, furthermore, the PowerPay product also features the use of the PowerCard, which is a crypto debit card that will allow users use it successfully on ATMs. PowerStack is a crypto mobile wallet that will assist in the storage of digital assets, while PowerExchange will be added to the system as a platform where asset exchange can take happen between coin holders.
This is just a sneak peek into the products from the Powerchain Company.In my next post, i will explain further.
The platform will function with the aid of the PCX token which is an Ethereum based token, has a total supply of 10,000,000,000 and at a later time, Powerchain will swap to DAG algorithm based mainnet.
I will be making more posts about PowerChain soon. I will dive into the project and its terminologies. Stay tuned.
Another payment gateway for make transactions fast and swift breaking boarders barriers for international trade
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You got that right. One other important thing that PowerChain will improve is the mass-adoption of cryptocurrencies. This is at the center of its aim.
You have a minor misspelling in the following sentence:
It should be sneak peek instead of sneak peak.Thanks for pointing that out :)
The project is becoming more popular every day! There is a high probability that the project will become a market leader. @sammy-gates Your idea is very interesting and will surely benefit for all mankind!
Thanks for your wonderful insight. Powerchain will revamp payments with digital assets.
Thanks for this awesome write up sir. I believe transactions between individuals just got easier with this powerchain platform . i will go through the whitepaper for more infore.
Powerchain will do improve P2P transactions across the globe.
The whitepaper link is available in the article. You can also check out the website.
The PowerChain network seems to move away from what contemporary blockchain networks are employing with the use of Dag technology. Could you please explain to me how that increases the speed of transactions and how it makes the network more secured. I love the proposal here though and looking forward to follow up on the development of this amazing project
DAG is a directed graph data structure that uses a topological ordering. The validation of a certain transaction is decided by the number of transactions behind it.
The rate of transactions coming back into the network is lower with more transactions behind it, which makes the transaction safer.
DAG is built with a blockless nature, the transactions run directly into the DAG networks. The whole process is much faster than those of blockchains based on PoW and PoS.
The project is simple to grasp. You can follow up with its development using the links i attached to the article. I will be making another post soon, stay tuned. :)
With powerpay users can easily use their cryprocurrencies to make several payments thereby increasing the value of cryprocurrencies in the real world
I couldn't agree more. PowerChain is providing an easy means to spend our digital assets and also simultaneously giving cryptocurrencies the mass-adoption it should rightly have. Thanks for your opinion :)
This is awesome brother, thanks for the explanation and more so I think there team are as active as tiger 🐯 that see food?
Lol. I agree
Had to stop by to read this. Nice concept from the power chain team towards making more secured payment option. Thanks for the awareness.
You talked about Dag algorithm, u might need to enlighten your readers more on what DAG mean.
Secondly dont you think 10 billion token is too much for a solid project of this magnitude?
Thanks for stopping by Sir. I am glad i was able to show you something that will be a major disruptive force to traditional methods of payments.
Well the acronym DAG means "Directed Acrylic Graph Algorithm" and though, I don't know the technicals behind the algorithm, but I know that it provides a faster, and more secure method of making payments with digital assets ;). I will try to learn more about DAG and maybe in my next post,I might talk about it.
Secondly, i think its best known to the team tbe reason they choose 10b as their supply. I am sure the economics has already been laid out and there is little we can do now. :)
Thank You.
Am honoured Mr. Sammy. Glad you took your time to enlighten me more on this project. Looking forward to reading your forth coming blog post and i think this project is worth investing personally. Thanks once again. Gracias
Please when will the ico hold?