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February 24, 2018, 11:40:05 PM |
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Would DIRA be an interesting investment in the future or is it a shitcoin? What do you think?
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What is DIRA?
DIRA is a new cryptocurrency created on top of the NXT platform, an advanced and feature-rich blockchain system that has widely proved its reliability and safety. Unlike Bitcoin and other cryptocurrencies, it is based on a Proof-of-Staking (PoS) algorithm to achieve distribuited consensus, that is new blocks are randomly created based on the weight of their stake. Its main advantage is a reduced risk of centralization and, not least important, it is way more power efficient than Proof-of-Work (PoW) algorithm used in Bitcoin-like cryptocurrencies.
In DIRA we brought the best of these worlds by creating a sort of hybrid new system where the core of DIRA, the blockchain itself, based on a pure Proof-of-Staking algorithm SHA-256, it is accompanied by a central rewarding system where users can get DIRA through Proof-Of-Work algorithms. In particular we implemented the BrainMining, where users have to solve problems in order to get a reward and a more classical CPU mining with an SHA-512 algorithm.
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