Dinero Insights and Pre-Mine Burn
In a world where we say a new virtual coin being introduced, Dinero is a cryptocurrency that stands out because of many fundamentally distinguishing features.
Before we dive into details, it should be clarified that Dinero is an open source cryptocurrency based on Bitcoin and Dash with an aim to provide prompt personal transactions while keeping transaction fees to bare minimum. Dinero incorporates many of the improvements which Dash has made on top of Bitcoin as well as the addition of an ASIC resistant hashing algorithm called Neoscrypt to avoid any undue centralization of mining resources.
Here are the aspects that differentiate Dinero from other cryptocurrencies:
While Bitcoin and Ethereum are the most popular cryptocurrencies globally in terms of magnitude of trade and market cap, they are of very little use to common consumer. Bitcoin has basically become an asset for trading for cryptocurrency enthusiasts while Ethereum has turned into a virtual currency that's job is to facilitate Initial Coin Offerings (ICOs).
Contrastingly, Dinero coin has actual applications that can benefit common people. The coin can be used for merchant solutions, money transfer services, remittance transfers, policy holdings, insurance, trust fund and more.
Generally cryptocurrency startups rely on pre-selling or ICOs to fund their projects which means developers owe a lot of money as well as responsibility toward investors and backers. Usually, this doesn't end up well as cryptocurrency project fails to deliver on the promises or turns out to be a cryptocurrency exit scam. That's why Dinero project hasn't taken that route. Instead, it started out with mining of 2,000,000 DINs (Dinero Coins) in block #1 with intentions of funding the project. However, the Dinero Team has reached a decision that the the entire 2 million coins from the premine will be burned accordingly. With the Dinero Governance portal up and running, the team will utilize the said feature as a source of funding for any particular future developments and innovations needed for the project as a whole. Dinero Premine Burn date will be announced soon.
Bitcoin and other popular cryptocurrencies have been populated by miners who use purpose built ASICs to mine coins which enables people with higher financial resources to employ concentrated mining and earning higher number of coins as a result.
On the other hand, Dinero Coin depends on Neoscrypt Proof of Work (PoW) system which is designed as an ASIC resistant algorithm to discourage GPU mining. It is designed to require RAM as well as GPU power to solve. Since RAM requires more area on the chip than CPU-based designs, this approach makes the production and usage of high-powered ASICs unprofitable.
These are the leading features that separate Dinero coin from other cryptocurrencies in terms of applications, decentralization and project transparency. These points also highlight that Dinero team has sincere intentions to see through the project and penetrate the industry with legitimate solutions that help people and the world.
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