When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of SuperCoin.
Origin & Background
SuperCoin is an inventive cryptocurrency that offers quick and completely nameless transactions. The coin uses a multisignature technology to make sure that all the payments are verified, secure and extremely confidential.
SuperSend Trustless is a decentralized peer-to-peer network where there is no central body to take control of the transactions. The ledger is entirely distributed and does not require the involvement of any third party to validate the electronic payments. There are no limitations for the sender and the recipient and anyone anywhere can buy and trade SuperCoins. Also, the transaction fees are much lower than the ones applied to conventional money transfers with fiat currencies.
SuperCoin launched their special new wallet with SuperSend Trustless on 25 August 2014. The SuperSend Trustless is a decentralised anonymous system in which there is impartiality between all nodes. The nodes symbolize the clients and all nodes receive an even amount of information. Coin transfers are executed with the assistance of erratically selected middle nodes. Usage of mini-escrow ensures that all participants in the transaction follow the transfer rules. If any party attempts to defraud someone else, he will surely lose more than he has won. In addition, the multisignature technology further improves the safety of the transaction. With SuperSend Trustless there are two middle service nodes that facilitate the coin transfer. One of those arbitrarily picked nodes performs mix service and the other one provides guarantee service.
The mixer is the node that mixes the sent coins with their own coins and sends them to the destination. Usually, the guarantor creates a multisignature address and transaction. On the other hand, if any disputes between sender and mixer occur, the guarantor is the one to decide. Moreover, the system creates multisignature addresses with three public keys, one from the sender, one from the mixer and one from the guarantor. Each of these three parties holds the private key which corresponds to the public one. In order to authenticate the transaction, at least two out of the three nodes have to sign it. Consequently, nobody can spend coins in a particular address alone. This guarantees complete security to the users.
Pros & Cons
We have not identified any particular advantages or disadvantages with the SuperCoin. However, we urge you to form your own opinion on the merits of this cryptocurrency. But remember: knowledge is power.
Finally, if you have concluded that this is the coin for you, congratulations! Buy SuperCoin here.