ZUG, Switzerland, April 7, 2019 / PRNewswire / – The Swiss Social Security Fund Swiss Shakti Foundation, headquartered in Zug (Switzerland), is preparing to issue a blockchain currency called Shakti Coin (SXE), which opens new era of professional investing. The basis of this new steylcoin is a fundamentally new blockchain protocol called Proof-of-Effort (PoE), designed to democratize the mining process and turn Shakti Coin into the most convenient means of payment all over the world.
This news came a decade after the release of Bitcoin – the world’s first blockchain currency created by a person or group of people under the pseudonym Satoshi Nakamoto. The developers of Shakti Coin analyzed the advantages and disadvantages of Bitcoin in order to create a full-fledged means of payment for daily operations. The main characteristics of Shakti Coin include ease of use, stable cost, compliance with regulatory requirements, network speed of over 10 thousand transactions per second, the possibility of direct transfers between wallets, as well as democracy and energy efficiency of the mining process.
The PoE protocol is a successful replacement for the energy-intensive Proof-of-Work protocol used in the Bitcoin network and some other blockchain systems without sacrificing security. For example, by the amount of electricity consumed, the computer used to mine Shakti Coin tokens is comparable to the average mail server. The unique mining protocol of this new digital currency – PoE – eliminates the problem of increased energy consumption, while providing opportunities for scaling. In addition, the new token carries a large social burden, stimulating the expansion of access to educational and financial services around the world.
Shakti Coin meets regulatory requirements due to its ease of use as one of its main distinguishing features. To this end, the development of this currency was carried out taking into account advanced practical methods of customer identification, as well as AML, CTFA and other standards governing actions to curb its illegal use. The organization also seeks to ensure compliance across the globe, working with local service providers in specific countries.
Shakti Coin manages daily operations using SXE Network Operations LLC, headquartered in Berkeley, California. The Berkeley office is authorized to handle regulatory compliance and guidance. SXE Network Operations is also responsible for maintaining and developing the Shakti Blockchain Network and Shakti Wallet applications, registering miners and ensuring smooth market entry and distribution to users around the world.
The Shakti Coin system adheres to a special principle formulated by the SL
Sourced from TASS.ru and machine translated for your benefit