What is JioCoin?JioCoin is used to create a standard payment platform for $200 billion eCommerce industry in India and eliminate the need transaction fees and high sales tax andcreate awareness of CryptoCurrency in India which has 1.3 Billion population.
Real Time Applications of JioCoin
Developing a SmartContract based eCommerce Platform
1. Seller lists the product. Ji platform creates SmartContract.
2. Buyer buys the product & tracks using BlockChain Technology.
3. Once the product is delivered the SmartContract gets executed and money is transferred to the Seller.
4. Transaction will be held using JioCoin
Why Not Mining?1. Due to the high infrastructure costs, people are hesitant to mine. The research and news articles states that India was never part of CryptoMining unlike other countries.
2. High Electricity costs in the cities, and no continuous electricity in the Villages
Why PreMine?1. Distribute coins for every user at minimal price, 1JioCoin = 0.30Indian Rupee (or 0.01USD)
2. 70% of the Coins have been PreMined, the total valuation of the Premined Coins = 9,80,000 USD (98000000 * 0.01 ). The money will be used to hire developers and build the platform. The money will be used for development of the eCommerce.
Algorithm Scrypt
Type PoW/PoS
Coin name JioCoin
Coin abbreviation JIO
Address letter J
RPC port 32498
P2P port 32497
Block reward 100 coins
Total coin supply 140000000 coins
Premine percent 70%
Premine amount 98000000 coins
WebSite:
http://www.myjiocoin.orgWe are open to suggestions to improve and become the largest cryptocurrency in India.
