Qyno Coin Introduces Game Changing Financial Ecosystem for Instant, Anonymous Cryptocurrency Payments
With global financial systems poised to adopt blockchain technology, Qyno’s unveiling of a low cost, anonymous and instant alternative to Bitcoin couldn’t be more timely
(July 8, 2018) Qyno Coin has pulled back the curtain on a financial ecosystem that finally affords users a lighting fast, near-zero transaction fee alternative to Bitcoin that is both anonymous and secured by masternodes. The security of Qyno Coin achieved by the use of masternodes has the secondary benefit of being financially rewarding to users who choose to become masternode owners on the Qyno network.
Bitcoin revolutionized money by introducing a digital currency based on blockchain that is impervious to the double-spending issue that had plagued previous forms of digital cash. Despite this, Bitcoin is hampered by very long confirmation times, high transaction fees, and a lack of anonymity for users. Qyno Coin has picked up where Bitcoin left off by introducing a financial ecosystem that enables instantaneous transactions across a network secured by end-to-end anonymity and masternodes.
Masternodes on the Qyno blockchain enable next-level validation in ways that standard mining can not. Masternodes are essentially decentralized servers owned by anyone who purchases the collateral amount of Qyno Coin (QNO) and holds them in the Qyno Wallet. These masternodes do two critical pieces of work. First, they allow for the performance of functions like InstantSend and PrivateSend, both of which are Qyno Coin features allowing for transactions that are confirmed in the blink of an eye and guarantee anonymity for both parties involved. Second, Qyno masternodes secure the network because they agree on transactions by consensus. The work performed by Qyno masternodes is rewarded with a massive 90% block reward, the highest of any masternode coin in the crypto market.
The Qyno blockchain uses a Neoscrypt hashing algorithm which is so cryptographically secure that it is ASIC resistant and has the secondary benefit of being less memory intensive than usual hashing algorithms. Because Qyno is a Neoscrypt based coin, it is easier for a person with normal computing power to participate in mining it. Due to properties which keep Qyno Coin transactions fast, secure and near-zero cost, the Qyno financial ecosystem makes a perfect host for eCommerce solutions.
“With anonymous, nearly zero-cost transactions allowing merchants to do business in a secure and instant fashion, the Qyno platform enables the next generation of eCommerce on the blockchain. Using an industry-leading masternode model to secure the Qyno platform means merchants will never have to worry about the safety of traded assets,” said the Qyno team in a recent statement.
Merchants thinking of integrating Qyno into their eCommerce environment will have a major incentive to do so. Qyno’s merchant gateway, called Q-PayGate, allows for any tool, product, or merchant service to be seamlessly integrated into the Qyno blockchain. Merchants who accept Qyno payments using the Q-PayGate plugin will be able to host their own Qyno masternodes using the generated funds, creating a stream of revenue as they profit from both their business income and the ROI generated by owning Qyno masternodes.
Qyno’s mainnet is scheduled for launch in mid-July, 2018.
For more information, visit: https://www.qyno.org
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GitHub —https://github.com/Qyno/QynoCoin
