Aspects that Differentiate Dinero from Other Cryptocurrencies
In a world where we say a new virtual coin being introduced, Dinero is a
cryptocurrency that stands out because of many fundamentally distinguishing features.
Before we dive into details, it should be clarified that Dinero is an open source
cryptocurrency based on Bitcoin and Dash with an aim to provide prompt personal
transactions while keeping transaction fees to bare minimum. Dinero incorporates
many of the improvements which Dash has made on top of Bitcoin as well as the
addition of an ASIC resistant hashing algorithm called Neoscrypt to avoid any undue
centralization of mining resources.
Here are the aspects that differentiate Dinero from other cryptocurrencies:
Real World Applications
While Bitcoin and Ethereum are the most popular cryptocurrencies globally in terms of
magnitude of trade and market cap, they are of very little use to common consumer.
Bitcoin has basically become an asset for trading for cryptocurrency enthusiasts while
Ethereum has turned into a virtual currency that's job is to facilitate Initial Coin Offerings
(ICOs).
Contrastingly, Dinero coin has actual applications that can benefit common people.
The coin can be used for merchant solutions, money transfer services, remittance
transfers, policy holdings, insurance, trust fund and more.
Ultimate Transparency – Burning the Premine of 2 Million Dinero Coins
Generally cryptocurrency startups rely on pre-selling or ICOs to fund their projects
which means developers owe a lot of money as well as responsibility toward investors
and backers. Usually, this doesn't end up well as cryptocurrency project fails to deliver
on the promises or turns out to be a cryptocurrency exit scam.
That's why Dinero project hasn't taken that route. Instead, it started out with generation
or mining of 2,000,000 DINs (Dinero Coins) which were used to fund the project. The Dinero Team has
reached to a decision that the remainder of the premine will be burned accordingly.
With the Dinero Governance portal up and running, the team will utilize the said feature
as a source of funding for any particular future developments and innovations needed
for the project as a whole.
"It
will be sent to a BTC address that will deem the coins inaccessible, non-spendable
and unusable."
Dinero Premine Burn date will be announced soon.
Discouraging Centralized Mining
Bitcoin and other popular cryptocurrencies have been populated by miners who use
purpose built ASICs to mine coins which enables people with higher financial
resources to employ concentrated mining and earning higher number of coins as a
result.
On the other hand, Dinero Coin depends on Neoscrypt Proof of Work (PoW) system
which is designed as an ASIC resistant algorithm to discourage GPU mining. It is
designed to require RAM as well as GPU power to solve. Since RAM requires more
area on the chip than CPU-based designs, this approach makes the production and
usage of high-powered ASICs unprofitable.
Conclusion
These are the leading features that separate Dinero coin from other cryptocurrencies in
terms of applications, decentralization and project transparency. These points also
highlight that Dinero team has sincere intentions to see through the project and
penetrate the industry with legitimate solutions that help people and the world.
Are you ready to submit a proposal?
https://proposal.dinerocoin.org/
The Community
Discord: https://discord.gg/qBGfrVZ
Reddit: https://www.reddit.com/r/Dinerocoin/
Telegram: https://t.me/DineroCoinMasternode
Bitcointalk: https://bitcointalk.org/index.php?topic=2828122.0
