Goldencoin: A digital currency, based on the blockchain technology which is encrypted by cryptography. Basically, Goldencoin is digital money, which is created using a code.
It is free of all governmental oversights and monitored by peer-to-peer internet protocol. Here are the top 5 reasons why you should use Golden Coin as your preferred crypto currency.
7 Reasons to Use Goldencoin as your Cryptocurrency
1. Smart Contracts
Smart Contracts is the exchange mechanism that allows you to exchange money, property, shares, or anything of value. This allows you to do direct transactions between two trusted agents.
The crypto currency, Goldencoin is backed by smart contracts, which enables the entire system to run smoothly.
2. It is open source
Goldencoin is based on Ethereum Blockchain that is an open source technology and can be accessed by any programmer or a developer. Everyone has the access to this code and nobody is required to take permission for correcting or improving the code. This improves the integrity, utility, and quality of the entire system.
3. Prevention from the Fraudless Transactions
As Goldencoin uses Ethereum Blockchain technology, the possibility of tampering or data loss is zero. Once transaction gets completed, it cannot be reversed. There is no chance of committing fraud, thereby ensures the complete secure transactions.
4. Highly Encrypted
In the banking system, every single transaction is validated by a central authority. In case of Digital Currencies like Goldencoin, the code is encrypted and is stored in an open ledger. The transactions proceed only after verification of all the nodes gets completed.
5. Eliminates the needs for Third Party
Ethereum Blockchain completely eliminates the need for a third party which is one of the major advantages offered by Golden Chain.
In this, there is no need of any validation from the third party, because the entire system depends upon the blockchain network.
6. The Exchange of transactions is faster and affordable
If we compare Goldencoin to the traditional banking system, the exchange of transactions with the digital currency gets done faster. In this, the transactions from one party to the other which, even if it might be across the globe can be done within a few minutes. Moreover, the transaction fee for carrying out these transactions is quite low, thus providing one with a faster and an affordable interface.
7. Crypto Currency with a Global Recognition
Digital Currencies are recognized globally, whereby, there is no need to convert the currency from one form to other. You can send or buy Goldencoin from any part of the world with no exchange rates applied on any of the transaction.
Over to you
Thanks to the presence of advanced technologies like Blockchain and Smart Contracts, Goldencoin has uplifted the level of Digital Currencies in the Cryptographic World. These are the top 7 reasons why you should use Goldencoin as your preferred cryptocurrency.
