Blockchain and cryptocurrency is a major topic for research, investigation and experiments since it was introduced few years ago. Blockchain s like a ledger that keeps the records of transactions carried out on it and does not need or rely on any central body as they claim to maintain and validate the ledger. Since the introduction of blockchain and cryptocurrency, it has met many critics and appraisals.
Blockchain is an institutional technology which is decentralized leading to transparency. Since it involves people fund it's still under scrutiny as many have accepted it while some are still in doubt if it's a good thing as claimed. Notwithstanding there are also a lot of scam projects in the Blockchain trying to take advantage of the sector.
This is my entry into contest organized by pascacoin Blockchain. Will try my best to enlighten you people about the project to the best of my knowledge. Pascacoin is a cryprocurrency project built on Blockchain. Just as the name imply, it is written in pascal programming language by creator Albert Molina and it's easy to use and operate. Despite not doing any ICO like other crypto do it's still waxing stronger even with challenges that faces them. Pascacoin currently run on safebox technology which makes the project secure and safe. Each time a new block is generated in the Blockchain, the safebox is updated which help to safeguard each accounts evenwhen the Blockchain is deleted. Pascacoin accounts is an ordinal numbers just like bank account numbers unlike other cryptocurrency projects that uses complicated addresses. Users can only create public and private keys which serves as password to access the account, onl the miners can create accounts on the block.
One of the latest update on the pascacoin project is the V5 which was rreleased late last year and is accompanied with hardfork. This update fixed a lot of bug in the project leading to a more secure, more stable and improved Blockchain. It V5 was upgraded from V4 and this changed the mining algo from RandomHash based algo to RandomHash2 algo. Another important thing is the wallet app that was rebranded with the name Blaise wallet. It is supported on both Android and IOS and this wallet is the beauty of the project. It makes the usage of pascacoin very easy, easy to access your fund on the wallet, more secure and fast transactions.
Pasconomy is a term used to describe reward scheme in which contributors proposals are passed in Pascal based on it's value in United States Dollar as of the time of approval.with the unstable nature of cryptocurrency prices, this reward scheme ensures stable reward system and sustain economy of the project as prices fluctuates. Also another important thing is democracy in decision making as every proposal have to undergo voting in the discoid channel before approval by the keyteam. (Link to the discoid channel)[https://discord.gg/tmM8TSH]
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