CHOICE-COIN REVIEW
CHOICE COIN INTRODUCTION
The growth of smart contracts, although great for democratization of finances and open ledgers, have not been as smooth as many had aspect. The increasing gas fees needed to mine bitcoin, the fast centralization of mining powers in the hands of a select few, and the formless government of decentralization caused the development of algorand, a blockchain technology that beautifully combines the decentralization of bitcoin and the democratization of alrogrand. It is on the premise of this new innovation of democratization of power in a technology that Choice coin was built.
Choice coin is a digital currency that seeks to solve the problem of decentralized governance. Choice coin solves the problem of allowing people make decisions for a community, but these people aren’t specially chosen people but randomly selected members of the community wielding as much power as everyone else. Choice coin is more like the digital currency for the people.
Let me explain
In choice coin, decentralized government problem where nobody can make decisions and the decision-making powers doesn’t exist, allowing the community to flow whichever way, is tackled straight on. Choice coin allows members of the community to vote and make important community decisions. So, while there is decentralization, there is some form of democratized centralization.
Smart contracts are programs that deliver and execute cryptocurrency dealings without the permission of a central body. The process of approving a transaction is left solely in the hands of thousands of miners on the network, usually with high gas fees.
ALGORAND SMART CONTRACTS (ASC) execute the transactions on block with small fees, as low as $0.1, and without the need for a formalized oversight.
There are three types of ALGORAND SMART CONTRACTS:
•Stateful smart contract
•Stateless smart contract
•Algogenous contract
STATEFUL SMART CONTRACTS: is the ability of the network to store information in specific state on the network. In simple English, this means the network allows a user to request payment from another user.
STATELESS SMART CONTRACTS: validates contracts between two users, acting like an escrow between two users making a transaction. Stateless smart contracts can either approve or deny a transaction.
ALGOGENOUS SMART CONTRACT: combines the functions of the stateful smart contract with the stateless smart contract. There is the artificial intelligence of the ASC and the democratization as well. An algogenous smart contract can either be stateless or stateful or both.
Choice coin can serve as the main token for participation for decentralized and centralized organizations. With Choice coin, there are multiple uses of the coin across different platforms and by various organizations.
Choice coin’s fix supply is 1,000,000,000, and has been structured such that the coin will have many cases where it can be used. And for price volatility, which is a major drawback in bitcoin and most decentralized currency, choice coin is not as volatile because the price doesn’t depend on market speculations.
The creators’ economy is growing fast, and what choice coin has decided to do is reward people, creatives and developers and idea generators.
Choice coin is different from bitcoin and other decentralized currencies through its pure-proof-of-stake technology. While bitcoin distributes its currency to wealthy miners who can afford the exorbitant gas fees, on algorand network, choice coin is distributed to the entire network. There are no distinctions between users and miners; on algorand, everyone is equal. That is the power of democratized finance. Choice coins rewards writers, programmers and people invested in inventing new solutions.
FOR MORE INFORMATION KINDLY ACCESS THE LINKS BELOW
Website: https://choice-coin.com
Author: Dulo Wegner