SPAIN. Madrid. A group of European developers announced the launch of a new PZMCash crypto coin, which supports the Proof-of-Stake protocol and is an effective payment tool. Created in open source, PZMCash is not only able to generate profits from participating in the staking program but is also a reliable tool for P2P payments.
The Lisk blockchain was taken as the basis, which is an electronic registry where all the ongoing actions on the network are recorded: from transactions and transfers to replenishment of the balance and withdrawal of funds. Such a system allows not only to make the exchange of funds transparent and understandable, but also significantly increases the safety and security of user data. When attempting a hacker attack, attackers need to change the code of the electronic financial registry to gain access to wallets, and changing at least one entry will immediately lead to the fact that all subsequent entries will be changed. This will be noticed in seconds and the blockchain entry will be blocked by a security system.
In addition, the creators of the new blockchain and coins use an innovative system for filling the network with money supply, which will consist of two main components: creating and scaling the ecosystem and attracting active participants to the network who will personally influence the development of the blockchain.
At the moment, PZMC Wallet has already been created, which not only reliably protects investors’ funds, gives access to P2P payments and smart contract transactions, but also allows owners to join the staking program.
“PZM Cash is a fully digital payment tool that can be used to pay for purchases on the Internet, as well as for corporate and retail P2P payments. In this case, the sender pays the minimum transfer fee. Transactions in the network are completed in a few seconds. Cryptocurrency is an effective and economical & effective payment tool”, the company representative mentioned during a press conference held in Madrid on 24th June.
The generation of new coins in the system will occur through PoS mining, which does not require the use of special computing technology.