Whitecoin: The Fundamentals
Whitecoin is one of the oldest among the cryptocurrencies. It has its focus on innovative software and safe transactions. The coin is picking up popularity as it is excellent in maintaining the secrecy in transactions.
Basically, Whitecoin is an open source based blockchain. It is also decentralized. The symbol XWC denotes it. The overall figure of its supply of Whitecoin 248 million XWC tokens
It was initially released in April 2014 without a coin offering. The coin employs Proof-of-Stake algorithm in order to ensure the security of the network, and it runs based on a unique style of operation. The WhiteOS software runs the coin, and it modifies the Ubuntu environment to assure the portability of the cryptocurrency.
The coin depends on its community to ensure priority to its projects as well as the important steps that bring it onto the right track of development. The backend team is constantly working on its development that is important to the community through processes like voting, website, and polling. A dedicated community of supporters runs the cryptocurrency. This is the secret behind its growth, stability, and technological developments. People from all over the world are a part of the team
The Whitecoin has stood the test of time pretty well. It has had a rough beginning with the initial developer who was only concerned about the money inflow. Eventually, it has grown into a compelling force in the crypto world. Nowadays, it is driven by motivated individuals and the developer community. Several community-driven initiatives are being undertaken all the while.
As mentioned, the initial developer vanished very quickly after the launch of the coin. Proof-of-Stake (PoS) phase was brought to a standstill due to this, and the XWC almost lost the battle. However, as good fortune may have it, the cryptocurrency gained investors. Developers accepted the coin and continued with the mining process.
The development team is still keeping its main agenda as the improvement of its code. This is not under the control of any entity. Global investors and developers contribute on a volunteer basis.
The WhiteOS is very secure, and the operating system hardens the Ubuntu environment. The cryptocurrency can be easily accessed using a personal system like a PC or a Laptop. It can also be saved on an external device such as the USB. This allows its users to carry the coin around where they travel safely
Whitecoin wallets & browsers are redirected by a TOR proxy which runs locally. Therefore, once the USB or the storage device is unplugged from the device, all the history will instantly vanish. This adds to the safety of the coin.