Cryptocurrency: Behind Crypto Bullion (CBX)
Crypto Bullion (CBX) is a second generation cryptocurrency which was designed, according to its creators, intended to emulate the properties and gold deals. Launched in late June 2013, Crypto Bullion in the words of its developers, was primarily designed for the purpose of storing wealth.
One of the features most highlighted by the creators of the coin, is the creation of the mechanism Proof Of Stake Participation which can be translated as proof of participation-participation, their initials are POSP, this method say, would be an evolution of the Proof Of method Stake.
We wanted to interview one of the collaborators in the creation and dissemination of CBX, to explain to us what the coin:
Infocoin: 1.- Hello, what is your name and what’s your relationship with CBX?
VonSpass: Hi, my name is Von Spass, my position in the team CBX is Marketing Manager and promoter of Crypto Bullion. Also to finding that original CBX is best known strategies. We have many options to achieve this and the path I choose was publishing articles on the internet in other languages. However, I’m not the creator of CBX, I like to offer solutions to needs.
Infocoin: 2.- On the website of CBX it states that the creators of the coin try to emulate the properties and offer gold, but other currencies like Bitcoin, ethereum, litecoin, peercoin possess these traits as they are considered by many people as commodities like gold, oil or wheat. What is the difference with other cryptocurrencies and Crypto Bullion?
VonSpass: The mining PoSP forces you keep on and with the active CBX Vault, maintained mode to “stake” computer. In fact, the algorithm pays for people to secure the CBX network, being online and staking for rewards. We know this is a more than ask our network participants CBX online, but to keep them well motivated, profits of not participating is given to those who stakean. With this structure POSP, it gives participants a high percentage of profits with a very low level of 2% annual inflation.
Infocoin: 3.- Explain us VonSpass, what’s the difference between POS and PoSP mining?
VonSpass: The POSP algorithm comes from the POS but improved, faster and with fewer errors, it performs the same function that forces you to keep lit and maintained CBX vault for stake computer mode; indeed, the algorithm POS people paid to ensure the CBX network being online and to staking. We know this is a more than ask our network participants CBX network, but to guard them well motivated, profits of not participating is given to those who stake. With this structure POSP gives participants a high percentage of profits with a very low level of 2% annual inflation.
Infocoin: 4.- If a person wants to mine CBX must possess a minimum amount of money, why should buy coins to someone, if demand is very large and the very low offer price will rise excessively, which attract speculators don’t think this could trigger an economic bubble?
VonSpass: No, there will be no economic bubble as you say, because we have plans expansive development on the currency that would support economically, for example implementing the stake of CBX from Raspberry Pi, to publicize even more currency among users, and some other future projects that would support further Crypto Bullion. In this case quite I understand economic concepts as well as the demand and supply of Crpyto Bullion will find a new equilibrium level, but at a higher price in the coming months; allowing to enter new markets and have much more credibility.
To begin the stake you can do from one CBX on, the more quantity is, the greater your reward mining POSP, to buy them can go to any exchange where the market CBX (Cryptopia – Yobit – Cryptomic) is and buy I want to put in the vault to stake.
Infocoin: 5.- In github project CBX has only 11 employees, what’s it that since 2013 have not joined more contributors to this project?
VonSpass: Each person entering the CBX family has its own objectives, projects and reasons for doing so; the same when they leave it. We have seen many developers spend, over time; the advantage of Crypto Bullion against other currencies is that it has always focused on having the best possible algorithm, speed transactions and greater security, right now we’re in the process of promoting Crypto Bullion and then take it to new Exchange as Bittrex and C- cex in a first step.
Infocoin: 6.- How many users worldwide believe that use the currency ?, is there any way to check this number?
VonSpass: We are all sure that as we are an exclusive cryptocurrency, almost reserved for investors, should have a few hundred users CBX distributed worldwide. At this time, there are exactly 3920 CBX addresses, according to the Block Explorer. Bullion Crypto still his way to open space in the market, to be known and that the number of users grow day by day.
Source | Crypto Bullion
Note: The information and links for this article was provided by the developers clearly Crypto Bullion (CBX) as educational information to its users. Infocoin blog have no connection with that criptocurrency.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to Infocoin.