OneCoin Better Than Bitcoin?
Five Reasons Why OneCoin Is Better Than Bitcoin
First, I want to make it clear that this is not a stab at Bitcoin but a simple article based on the comments of professors from an ivy league school in New England about OneCoin and how the plans behind it put it in a good position to be better than Bitcoin. Anyone that has an interest in cryptocurrency and its future has to have an appreciation for Bitcoin. Now lets take a look at the five reasons scholars have listed that could place OneCoin as a better globally accepted cryptocurrency than Bitcoin.
1. Mining Is Simplified With One Button Push Mining
Bitcoin first started being mined by any geek or entrepreneur that wanted to set up a computer with the open source code for Bitcoin and start producing Bitcoin. As the Bitcoins were mined it became increasingly hard to “find” them. With the growing costs of electricity and computer hardware and Bitcoins becoming harder and harder to find a lot of people have given up. Even China is not mining as they once did. There are mining operations around the world but they are increasingly fewer. The model of Bitcoin is that the people find the coins and not a central company. Bitcoin is a “decentralized” cryptocurrency, which means there is no company behind the coin itself. The concept of Bitcoin really appeals to people that don’t appear to trust the government, central banks and Federal Reserve. OneCoin has quite a different concept behind it.
The concept behind OneCoin that Dr. Ruja envisioned was not to have OneCoin so technical that average people would not be able to be a part of cryptocurrency. Quite contrary actually. OneCoin as a company, allows people to buy the OneCoins but the company does the mining with their mining operations throughout the world in strategic locations. Anyone that can click a button then becomes a cryptocurrency miner. This is without all the expense involved in mining coins. OneCoin is a “centralized” cryptocurrency meaning there is a company behind the coin that can temper the value of the coin, secure a members OneCoins and retrieve the OneCoins if they are stolen through computer hacking. This giving people a lot more sense of security. Also, instead of using QR codes and wallets and a smart phone a person with OneCoin can simply use a credit card.
2. Combination Of X11 And Script Algorithms
Without the boring technicalities this simply means that the coding and scripting computer languages that OneCoin is using for the algorithm is superior to that of Bitcoin, which allows for faster processing. Bitcoin is an open source code so anyone has access to it and can start mining for Bitcoins. OneCoin uses their own custom code for mining OneCoin and this makes an important differentiation between the two cryptocurrencies. OneCoin does plan on releasing their code to open source, which will allow miners to set up shop and mine OneCoin but that will not happen until around 80% of the OneCoins are already mined by the company.
3. Increased Security And Faster Hashing
Regarding security, if you own Bitcoin, they are only as secure as you make them. That is because there is no company that stores them on your behalf. If your computer hard drive crashes you will lose your Bitcoins. OneCoin on the other hand is backing up the OneCoin database and can stand in defense of OneCoin members. The security that OneCoin has implemented for member accounts is very good and their security on the system is even better being military grade 256-bit encryption. OneCoin also uses faster hashing, which makes things run smoother and is key for a growing company that will have millions of transactions taking place daily on the company platform.
4. Greater Number Of Coins For Circulation
Bitcoin has a total of 21 million coins that will ever be produced and it is likely that they will not reach that amount because it has become increasingly harder to mine the remaining Bitcoins and the increasing overhead has caused lots of miners to walk away. It is true that Bitcoins are devisable down to eight decimal places but it would still be hard for Bitcoin to become a world reserve cryptocurrency. OneCoin by comparison has 2.1 Billion coins that can be created and devisable to eight decimal places making OneCoin a potential option for a global scale cryptocurrency.
5. Higher Visibility Company And Ownership
While the creator of Bitcoin has finally surfaced after 7 years there is no company behind Bitcoin itself. There is no customer service department, no support, no home office. Again, by contrast, OneCoin is very visible and the Founder and CEO of OneCoin, Dr. Ruja Ignatova, travels the world doing educational presentations on cryptocurrency and the future of payments. Dr. Ruja has been in Forbes, Financial IT and spoke at an event conducted by The Economist. You can learn all this by clicking on her name.
No one can say Bitcoin is not amazing. The entire story of Bitcoin is incredible but as cryptocurrency matures and is anticipated as the future of payments like the M-Pesa in Kenya, it is possible that Bitcoin will not be the solution or the only solution for the future of the world’s economy and how it functions.
In light of these five points we strongly recommend you consider registering with OneCoin
and be a part of this new technology.