EB3 Coin is a centralized cryptocurrency using decentralized blockchain technology, referred to as an alt coin. It was developed back in 2015 by K.C. Ching, a crypto specialist and technology enthusiast with a desire for achieving financial freedom. EB3 Coin is based on a Scrypt algorithm using POW type. EB3 Coin was developed with privacy, security and reliability in mind, and with an objective to overcome the limitations of traditional financial systems.
EB3 Coin is a peer to peer global payment network, guaranteeing complete anonymity in all transactions. Its cryptographic protocol ensures that the information being exchanged is encoded with both public and private keys, protecting the sender and receiver’s private information. The transfer of data is secured with encrypted codes ensuring that only a specific person can reveal the data. This means that users can make transactions directly to one another. There is no intermediary required for the transaction to take place. The transactions are recorded in an incorruptible public ledger referred to as a blockchain, once the transaction has been verified by a network of nodes. There is no single administrator or governing authority involved in this process, hence there is no outside interference or monitoring of transactions. Similarly, there is no single agency collecting or storing your transaction history.
EB3 Coin was developed based on Litecoin and reflects all the characteristics of Litecoin with some customization and a different total supply. It is an open source software released on GitHub which has a competitive edge over Bitcoin. EB3 Coin has been enhanced with the adoption of Segregated Witness along with the Lightning Network which basically form a network where many multiples of payments can be verified in a very short amount of time. This means there are no delays in transaction confirmations so things happen almost instantly and no bottlenecks or blockages slowing the network, as seen with other coins. With minimal fees and faster processing than Bitcoin, it’s no surprise that users are flocking towards EB3 Coin.
While EB3 Coin was developed using the same blockchain as Bitcoin, this means the security levels are robust, however EB3 Coin is undergoing a transformation to make it the safest digital currency for transacting in our daily lives.
EB3 Coin has grown in acceptance as users realise its potential and the opportunity it creates for users by giving them access to liquidity at any time, in any country. Users can manage their funds in a more efficient manner with minimal fees and instant transaction confirmation. Users can send EB3 Coin to one another, regardless of country, at their own convenience. Similarly, users can utilize their EB3 Coins for their daily requirements like online shopping and paying bills, through vouchers.
Unlike some other alt coins that have an infinite supply of coins, EB3 Coin has a finite supply of 786,000,000 coins. The rule of supply and demand adversely affects the price of EB3 Coin and with growing demand and an increasing user base, the supply of coin is reducing day by day, thus positively influencing the price of EB3.
EB3 Coin had a buying price of 0.15USD on 17/04/17 and climbed to 0.32USD on 19/05/17, that’s 113% in just 30 days. It also became the second most traded cryptocurrency on C-cex on 07/07/17 reflecting the level of usage of EB3 Coin in transactions. Since EB3 Coin is in its infancy, it has the potential to experience strong volatility as demand grows across its user base and with merchant acceptance increasing daily.
Currently EB3 Coin can be used as an investment tool by those seeking a return on investment or those active in the trading of cryptocurrencies. EB3 Coin ATMs have also been launched in Vietnam in May 2017 enabling users to withdraw their EB3 in Vietnamese Dong, eliminating the need for an exchanger and avoiding higher fees. EB3 Coin can be utilized for making payments abroad, instant transactions, online shopping, and giving you control of your funds so you can use them how and when you wish to while maintaining your privacy and security.
EB3 Coin like all cryptocurrency is digital and is stored in a digital wallet. The purpose of the wallet is to enable users to store and transact their coin. The wallet is basically a mechanism for users to store the credentials of the coin and enables them to make transactions in a secure, private and mobile manner. Your wallet can be stored online or offline and is identified by your personal wallet address. Users can send and receive EB3 Coin using this unique wallet address. The transaction information is protected using cryptographic keys which can only be deciphered by the wallet user.
2015 – – Developed the theory of EB3 Coin and strengthened the foundation of the supporting ecosystem.
2016 – Identified the trading exchange requirements and worked towards enhancing security measures in place before expanding its user base.
2017 – Tested the ecosystem while growing its user base and expanding merchant acceptance of EB3 Coin as a feasible method of payment.
The legal framework for cryptocurrency varies from country to country and continues to change daily as the popularity of cryptocurrencies grow. While blockchain is being supported and integrated into many industries such as finance and healthcare due to its security levels, the adoption of cryptocurrency in trade is slower due to unclear regulation but the response has been primarily positive. The adoption of cryptocurrency as a payment network is expanding globally as users opt for a more convenient method of spending in their daily lives.
EB3 is a democratic form of Cryptocurrency. It represents a whole new way of thinking about investment, economic freedom, security and privacy in financial transactions. Anyone can invest in a completely transparent way — without having to trust any intermediary.
Customers now don’t have to worry about the inflated prices of the goods and services as no intermediary cost is involved in this decentralized network, where merchants do not have to pass on the cost of business to you the customer.
More and more traders are accepting EB3 as a mode of payment as insignificant amount of fees allows parties to sell/buy cheaper than traditional currencies.
EB3 coin doesn’t follow a series of complex steps and procedures to participate in the growing world of Cryptocurrency. It is among the simplest platform to earn and multiply your earnings by following in simple steps.