South America reaches the next level in cryptocurrency
The year 2017 really could go down in the annals as the year of cryptocurrency.
Impressive levels of growth have been recorded throughout the crypto market. The total value of all the cryptocurrencies listed in coinmarketcap.com rose from 16 billion dollars at the beginning of the year to 175 billion in September and the main currency Bitcoin surpassed the mark of US$ 5.300 for the first time in October after it stood at US$ 800 in January.
This growing market has resulted in several challenges for the “mother” of all the cryptocurrencies, the Bitcoin. Increases in currency transactions have slowed down the network because waiting times for confirmations and costs increased. We then realized that the time was ripe for a new generation of cryptocurrency.
One of the recent decentralized currencies that entered the market is PURA.
The idea of PURA was born out of the lifestyle in Costa Rica, the country where people greet each other with “PURA Vida”. The PURA website elaborates on the concept that PURA is the “digital money movement for the common good”.
This new currency allows for executing transactions around the globe in an instant, in private and with very low transaction costs without intermediaries. The difference to coins like Bitcoin is the speed of the transactions that are confirmed within one second thanks to a system called masternodes. This system also provides an outstanding level of privacy.
PURA is an excellent opportunity for investors. With Bitcoin you can generate income by saving or mining – with PURA you can also generate income by owning a masternode if you have 100,000 PURA in your wallet. Masternode owners now receive 60% of all newly mined coins, adding greater stability and service to the network.
The value of a cryptocurrency is based mainly on the confidence of the users and this confidence increases with projects that are being developed. PURA announced the implementation of the PURA-Planet Foundation in 2018. Ten percent of the mined coins will go into funding social and ecological projects, such as protecting tropical forests to ensure oxygen production or the collection of plastic waste from the oceans.
As you can see the protection of the environment is a substantial part of the PURA plan. The DAO (Autonomous Decentralized Organization) will also be implemented to govern this project in a democratic way among all users.
In addition, a debit card and an exchange were announced to enable the use of PURA in day- to-day purchases and payments in the countries and the local currency of the users, a network of ATMs in South America beginning with Colombia, Ecuador, Peru and Paraguay and acceptance as a means of payment in the first Crypto City of the world (www.avalonnation.com) in Costa Rica.
If you are currently investing or working with cryptocurrency, PURA is certainly a coin worth taking a closer look at; check for further news in the upcoming weeks.