JasperCoin, an Argentine cryptocurrency to democratize the digital market

About to immerse itself in the digital market, JasperCoin, a new cryptocurrency created in Argentina, was born through an algorithm that seeks to "democratize" access to this type of currency, by allowing small businesses and even individuals to operate with them without great electrical dependence.

One of the characteristics of the field of operations in which cryptocurrencies are managed is that the amount of energy used for transactions is very abundant, since an extensive network of computers is required to carry them out. Jasper seeks to simplify this process and, in addition, make it more "accessible"

"The reduction is radical in energy expenditure, Jasper can use any device or any computer with very low power: a common PC can do the mining, so the expense is smaller," he said in an interview with Efe. Jasper project, Gerardo Ratto.

The mining process, as the virtual production of cryptocurrencies is known, has two forms of operation: the Proof of Work (POW) method gives priority to the most capable actors in solving a mathematical algorithm and the Proof of Stake (POS) based on giving priority to whoever owns more digital capital.

Jasper moves in a different line of action and is what most stands out Ratto of the new technology they have launched.

"Instead of deciding who is the next miner based on who solves a mathematical problem before, as it is done in other platforms, here is a round in which the next miner is chosen, which is the one that has not been for a long time. has still mined, "explains the Argentine expert in technology.

Despite the increasingly extensive market that the cryptocurrencies play - it has been created in the South American country up to a currency with wine bottle equivalencies - the benchmark is still the network conceived in 2009 and which currently has a great role in the global investor community.

"The concept was invented with bitcoin and from there it became possible that many projects that use the same technological concept can cover different aspects or needs according to the philosophy of the project," says Ratto.

What the creators of Jasper have tried to differentiate from the bitcoin, the digital currency par excellence, is that the production of coins "is distributed among the producers of economy in an equitable manner" and that small and medium enterprises can not be displaced.

How is this "democratization" achieved in a decentralized virtual space? Allowing all players to have access to the mining through a device that is consistent with that new process under which Jasper operates and distributes the shift "for a round, not for who is the strongest," according to Ratto.

That little processor they are creating has been called "Jaspberry" and it is compatible with computers and telephones, a novelty in the field for its ability to carry out the creation of coins without being connected to a more complex electrical network.

In this way, it is strengthened in Latin America, where the JasperCoin is initially presented, that this form of payment is made available to individuals and smaller agents, taking into account that the concept seems reserved today to large companies with knowledge in the technological and mathematical field.

"The concept is very powerful, it is disruptive in what we think," admits Ratto, who is not mistaken: few people are alien to the revolutionary presence of bitcoin.

Therefore, encourages the population as a whole to "study" the use of cryptocurrencies, "to use them to pay, to learn with small amounts" because virtual currencies have come to stay, and the Latin American market does not want stay behind.