The TrumpCoin was originally created to support the presidential campaign Donald Trumps. According to his motto “Make America Great Again”, the TrumpCoin crypto currency is to be used to support projects and companies. But now that he has been president for some time, is it worth buying this coin? And does the forecast depend on the president’s success?
TrumpCoin – What is this Bitcoin revolution doing?
The crypto currency is based on the Bitcoin revolution and performs a similar function. It is to be used as a digital means of payment for transactions. However, the Trump/Coin is not technically identical to the Bitcoin. Unlike Bitcoin’s Proof-of-Work, the Trump Coin uses the Bitcoin revolution Proof-of-Stake algorithm. Proof-of-work consumes a great deal of computing power and power in order to be able to carry out any transactions at all. The Proof-of-Stake algorithm reduces power consumption, this method also makes it possible for the TrumpCoin to buy and earn its own: With the Proof-of-Stake you freeze some coins on your own TrumpCoin Wallet and help to verify transactions. As a reward you have the chance to earn some coins yourself. This is 2% of the frozen amount per year. During the development, value is placed on a stable crypto currency, the inflation is only 2% per year. Maximum there should be only 12 million Trump / Coins.
The generation of new blocks should take place with the Trump/Coin every 30 seconds. Thus the crypto currency is faster than Bitcoin, transactions should be able to be carried out within a few minutes. Furthermore, the fees for a transaction should be converted into a few cents. At the beginning of the development 6 million Trump/Coins were generated by the team, whereby 2 million of it were used for the financing of the presidency campaign of Donald Trump. Since then, fans of the crypto currency have been encouraged to use the coin to finance new projects, in keeping with the president’s campaign slogan. This involves, for example, rebuilding the American infrastructure, supporting the homeless and the poor or securing America’s external borders.
TrumpCoin – Who is behind the Bitcoin profit?
The initiator of the TrumpCoin development and the Bitcoin profit would rather remain anonymous. He has the user name “Chicken65”, according to his own statement a Scottish music producer from around 40 years. He’s not just a fan of Donald Trump, he says that he doesn’t agree with everyone what the president says about himself. Like many others in the world of Bitcoin profit crypto currencies, however, he is a friend of free markets and against state regulations. He is most likely to belong to the libertarian spectrum. The decentralized blockchains correspond to his ideals. This is also the case with Trump, who for him is currently the best representative of these liberal values. That’s why he chose the president to decorate the crypto currencies. Meanwhile, a small team has come together to work on the development. It should be noted that neither Trump himself nor anyone in the government has recognized Trump/Coin as some kind of official crypto currency. That was also never the goal of Chicken65.