SwiftCash deploys blockchain based on Proof-of-Stake consensus algorithm in 2018, focusing on self-funded localized governance systems and the economy with a stable growth model. The SwiftCash team aims to improve the energy utilization of a blockchain like bitcoin, using the same security and daily transactions. The SwiftCash Green protocol uses a proof-of-stake algorithm. It can be mined on any computer and does not require special mining equipment.
SwiftCash uses a Keccak algorithm based on SHA-3 for block hashes. New blocks are added to the SwiftCash blockchain every 60 seconds, with an average and block size of 2 MB. The mining difficulty accommodates every 40 blocks. SwiftCash uses a Proof-of-Stake (PoS) algorithm, which allows proposals to spend up to 70% of future block rewards espoused by community stakeholders.
Therefore, 30% of the maximum monthly expansion goes directly to stakeholders who help secure the network, and these users decide whether the rest is mined or how it is spent. It is also decided by stakeholders will go.
SwiftCash is a digital store of value and decentralized governance through master nodes with a peer-to-peer cryptocurrency that also enables instant payments. Still, SwiftCash is more than just another option for Bitcoin or Dash. Users can play flawless lotteries that run entirely on the blockchain, such as 0.01 SWIFT or long-term open deposits in the blockchain between 1–12 months, also known as HODL deposits.
The SwiftCash community includes early investors, cryptocurrency, admirers, developers, and traders. Professional development, support, and outreach activities may endeavor to mine SwiftCash in a proof-of-labor fashion through the blockchain’s suburbanized administration system.
SwiftCash is the best altcoin or alternative to Bitcoin
By placing the label as a misnomer, the proof-of-work algorithm allows those who have robust hardware to pick up new bitcoins. Indeed, this process involves an element of luck, but those who have stronger hardware try to pick up more Bitcoins than anyone else. On the other hand, PoS algorithm leaves the competition up to your stake in an equal & fair way.
This means that anyone who has cryptocurrencies can mine more. So first, you must buy, and then you can increase coins by mining them. You will not need any costly hardware to mine the coins. More attractive is that the PoS algorithm protects the network just like the proof-of-work algorithm, but with a less costing.