Cryptocurrencies in the current state are suffering from several drawbacks and issues related to absence of stability, scalability and most importantly security. Several algorithms and techniques were recently introduced aimed at addressing those issues. Unfortunately, those attempts met with one solid drawback from cryptocurrencies giant Bitcoin price volatility. This instability of the main markets pair resulted into the almost daily market volatility. This is expected specifically, when measurements are against an unstable metric. As a result, you will always end up with volatile unstable value which is here considered as price of the currency. The main reason for this instability and extreme volatility is absence of structured backing system which is supposed to be in a form of assets. Assets backing for any currency is an important element in order to allow stable value, and preservation of capital. This paper addresses those issues and introduces a new Proof of Wealth (PoWL) to solve the above problems. We present Cash Telex Ecosystem to demonstrate the use of Proof of Wealth (PoWL) algorithm. The solution requires several components to work together in order to achieve the desired scalability, stability and a secure environment. The described solution guarantees to maximize the investors’ wealth and preserve the initial investment capital and ultimately provide a reliable payment solution.
Token | CTLX |
Type | Utility |
Price in ICO | 1 CTLX = 0.82 USD |
tokens for sale | 4,000,000 |
KYC | KYC |
At Cryptoknowmics, find all the information you need on ICOs with ideas and concepts similar to the one given above. We help you scout through the best crypto projects to keep your interests piqued in the world of cryptocurrencies and blockchain. As a major information provider of all the crypto-related news and developments, we bring to you updates on some of the most highly rewarding ICO projects.