Hello Guys.
Today, i want to talk about a revolutionary project called PowerChain that seeks to improve payments with cryptocurencies and provide real-time usage of crypto as we know it. Without further ado, lets dive in.
We depend on innovative technologies everyday of our lives for various purposes, either at work or at home, or wherever we may find ourselves. This dependence on technological innovations has been a pointer at knowing where such technologies need improvement, and thus technology keeps evolving with better innovations being created. When the blockchain technology was created, it came as a surprise and also created disruptions in the financial market, across different sectors and instructions. Despite its slow reaction to adoption for mainstream use yet, the popularity of the technology has continued to spread far and wide, because of its many abilities.
Regardless of the fact that the blockchain is a very helpful technology that is both effective and efficient, it has been discovered that the Blockchain technology has flaws that have the ability to be a major setback for the technology if not attended to. The blockchain technology comes with various limitations that could prevent it from being a mainstream innovative technology, some of these flaws include its dependence on miners, susceptibility to 51% attacks, block size, among other flaws. In light of this, a newer technology has been created to put a check on some the flaws the blockchain technology. The Directed Acyclic Graph (DAG) looks to be a competitor against the blockchain, as it has the abilities to create digital assets without going through the same processes as the blockchain technology and also overcoming the flaws found in blockchain. And this brings us to POWERCHAIN
The PowerChain network is one that was created using the DAG technology, and its functionalities differ from that of the blockchain technology, in that, transactions are faster, and the security is blockless, hence there are no mining activities. The DAG-based digital asset hopes to change the way crypto-based transactions are executed, and thus make DAG applications more acceptable, effective, efficient, and make cryptocurrencies a mainstream technology to be adopted by companies, businesses, and individuals. PowerChain is created to function as a financial technology network that will allow users perform the same functions as they would if it were the traditional banking system, thus giving users a more functional and easy-to-use alternative to fiat currencies and the traditional banking systems.
PowerChain is a network platform that is made up of other products necessary for the smooth operation of the platform, and also to make transactions much easier for the users within the PowerChain community.
At the moment, there are four products from the PowerChain company, and they include; PowerPay, PowerStack, PowerCard, and PowerExchange.
PowerPay is a payment system created with the intention to make payment transactions much easier on the PowerChain network, furthermore, the PowerPay product also features the use of the PowerCard, which is a crypto debit card that will allow users use it successfully on ATMs. PowerStack is a crypto mobile wallet that will assist in the storage of digital assets, while PowerExchange will be added to the system as a platform where asset exchange can take happen between coin holders.
This is just a sneak peek into the products from the Powerchain Company.In my next post, i will explain further.
The platform will function with the aid of the PCX token which is an Ethereum based token, has a total supply of 10,000,000,000 and at a later time, Powerchain will swap to DAG algorithm based mainnet.
I will be making more posts about PowerChain soon. I will dive into the project and its terminologies. Stay tuned.
