Blockchain is a decentralized public ledger of all transactions that have ever been executed. It uses files to store transactions on the network, and these files are referred to as blocks. The blockchain is constantly growing as completed ‘blocks’ are added to it with a new set of recordings.
The blocks are added to the blockchain in a linear, chronological order. It is the technology on which Bitcoin, Rainbow Currency and all other cryptocurrencies are based on.
The Rainbow Currency (Trading Symbol YEM) has been created late 2017 by more than 3,700 Internet users from 157 different countries. First launched on the public Ethereum blockchain, Rainbow Currency moved in August 2018 to a private blockchain called TwnklChain.
It has been created as a pure currency with no connection to any particular business, while it is represented by the Rainbow Currency Foundation, a global non-profit organization with board members from all over the world.
The main purpose of Rainbow Currency is to bring value and stability into the crypto world by establishing and growing an economy where YEM is the only accepted form of payment. YEM stands for Your Everyday Money.
As one of very few digital currencies, Rainbow Currency fulfills all requirements by the Federal German Ministry of Finance regarding its function as a substitute currency for the Euro (EUR).
No comments:
Post a Comment