What is GOLD?
Introducing INDUCED STABILITY - pegging to GOLD at 1:1 Ratio - STABLE CURRENCY
There has been many attempts to create a "stable" crypto currency using many different algorithms and methods, yet all of them has failed due to a simple fact that you cant control Supply & Demand. Further, mining cost varie and therefore if they are lower than the peg than the coin price will go down while in mining diffuculty goes up the price will be above the peg. INDUCED STABILTY solved the issue from its root. Even though in traditional crypto currenices mining is "available" to everybody in reality it is not. in Bitcoin it is a priviledge of the largest miners and pools with huge investment in mining equipment, and most people just purchase BTC on the exchnage. GOLD will be backed by gold at 1:1 ration. each coin = 1 Gram of Gold. has over 10 billion USD worth = 250 Million Coins issued. No new coins will be issued before the full original allocation is sold and then the next allocation will be released to the market, ensuring that there are always just enough coins in the market and never surplus. The model is simple. coins are only sold at cost of 1 gram of gold on the exchnages therefore setting the cost of the coin to a fixed price of 1 gram of gold. further, GOLD will buy back on the exchnage any GOLD at price of 1 gram of gold price any time. The block reward for mining is only the transaction fee and therefore miners cant downsell the coin on the market and if they do GOLD will purchase it back at price of 1 gram of gold. GOLD strives to become the De-Facto global currency that will enable worldwide trading with complete anonymity. as the coin price is fixed there is no need to be dependant on an exchnage for liquidity. you can use GOLD as an actual currency directly without using any exchnge or utilize an exchnage if you are in a zone where GOLD is not accepted. GOLD (GOLD), is a new, Open Sourced, fully decentralized, Peer-to-peer (P2P) currency; unlike any other in existence.
It was designed and developed, from inception, to be scalable to handle unlimited number of coins with a full inflation proof mechanism, similar to traditional fiat currencies. Yet, at the same time, it removes all limitations other coins have; by introducing a 15 second block time, 40x faster than bitcoin, which confirms transactions in one minute (four blocks) instead of one hour.
There are no block size limitations, allowing virtually unlimited transactions per minute. The block reward is only for the transaction processing fee and therefore prevent miners from manipulating to coin price. Price stability is induced with no inflation, while offering an unlimited growth potential.
There is no reward "halving" or any future "end" to production of coins, allowing the coin to grow into a transactional currency for the foreseeable future.
issuing only as many coins as the market demand ensures a stable economy with no imflation and no surplus of coins.
The combination of fast processing time and virtually unlimited TPM makes it realistic to have a debit card for instant transactions at Point of Sale (POS) worldwide.