It has been established that Contemporary cryptocurrencies are an unreliable medium of exchange for undertaking transaction due to two major reasons. The first reason is due to the lack of adoption by consumers and merchant while the other reason is the extreme price volatility. Despite the growing interest in the blockchain, current applications are not intuitive or accessible to the regular users and they are not user-friendly, making them an incompatible application with the real world applications. How does Liven address these challenges? Liven is a universal rewards network that comes with an integrated payment system aimed at making cryptocurrencies available for everyday people. Liven has a personalized network currency which rewards users for every transaction they make. Presently, the platform is embedded with several key points of sale (POS) partners allowing it to gain access to more than 200,000 venues. The next step in the evolution of this platform is the incorporation of blockchain into this payment system through the integration of an Ethereum ERC-20 token termed as LivenCoin (LVN).
The unique feature of this platform coupled with the existing network of users and merchant partners will seek to address the challenges highlighted above. First, the LivenCoin is designed in a way to facilitate the reduction of price volatility through a special, internal conversation rate which offers LVN intrinsic value. Note that every LVN token in circulation has a purchasing power that can be utilized within the Liven platform. Second, the incorporation of the cryptocurrency payment gateway into the platform will be unnoticeable to merchants, since their medium of exchange has not changed. These features coupled with Liven's presence in several venues and large, active users assists Liven to overcome the challenges which hinder the adoption of cryptocurrency at a retail level. The decentralized rewards protocol of this platform is governed by a smart contract which ensures that rewards are disseminated indefinitely despite the limited supply of LVN token.
In summary, the Liven network offers a feasible solution to the problems highlighted above, facilitating the integration of cryptocurrency and customer-to-business transaction, and also, incorporating a reward-based token economy into the global market consumer payment platform. The new and updated Liven platform seeks to provide a dual market system to facilitate transaction processing in Ethereum ERC-20 LVN Tokens and fiat currencies and at the same time rewards users with LVN Tokens. The above factors coupled with the internal economic model will create a user-friendly and functional cryptocurrency which is insulated from volatility and manipulation.
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Author - Coltpython
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