Security Coin will be swapped for BTI Currency, on Friday 8th May. But before we offer you more info regarding this swap, here is more info regarding the 2 communities that are getting ready to merge.
Who is Security Coin? Who is BTI ?
The Security Coin (SCSY) Development Team released the first “true” variable proof-of-stake (VPoS) cryptocurrency. SCSY was on the market at the beginning of 2015 with good initial success and a devoted development team. The Team is devoted to the entire cryptocurrency ecosystem, not only for SCSY. Security Coin was appropriately named because VPoS was designed to incentivized people to hold their investment long term in their local wallet rather than keeping their coins in a wallet on an exchange. This increased the security of the Network and protected coin holders from losses due to exchanges being hacked or simply closing up shop.
BTI (Blockchain Technologies Inc) was established on October 29, 2014. BTI focuses on using the revolutionary, publicly-available, open-source concept called the ‘Blockchain’ and related technologies that are currently being used primarily in the bitcoin/cryptocurrency industry. A blockchain is a public ledger of all transactions or ideas. The foundation of this revolutionary technology, the blockchain, has limitless possibilities to modernize and increase the efficiency of many day-to-day, real-world applications from voting to charitable processes to government processing.
Why BTI Currency?
BTI Currency is created by Blockchain Technologies Inc. to sustain their business model for the products they release in the real world. They affirm that they aren’t interested in pumping or dumping the coin as it fills a need to create their own economy in the crypto space.
Too many cryptos are being created with no purpose. BTI Currency will be solely used to purchase physical hardware or software from their company at a discount compared to using fiat or BTC. This model is how they see cryptocurrency having a solid use for the future. The idea itself is wonderful considering that they are selling very impressive products, a “Hardware Wallet Staker” which we will discuss in another article.
This is not the traditional cryptocurrency model that is out there now. The sole use for this crypto is to fund the development of their products and provide people with a way to get their products at a discount.
Security Coin Swap BTI Currency Process
They have decided to move from SCSY (Securitycoin) to BTI (BTI Currency) and merge the two Development Teams for a much better and stable ecosystem.
The Security Coin developer stepped away from the project due to the constant forks that he was unable to contain. Meanwhile the CEO, Darren James aka @AllCryptoAllDay, has been working on Blockchain Technologies Inc outside of crypto since October 2014 and decided to take on the SCSY Development Team and bring them to the BTI team due to their strengths in technical analysis, copy write, marketing, and community development.
The news about the swap has been posted frequently in the SCSY Bitcointalk thread to ensure that all people who own SCSY are aware of the swap and can participate if they chose to do so. Current holders of SCSY are being swapped for their BTI as of Friday May 8th.
SCSY to BTI Currency will be paid on a 10:1 ratio to BTI. Current Price of SCSY at the time of swap (0.00000026). Any SCSY received during the swap will be publicly burned to ensure the amount of SCSY in existence after the swap is adjusted accordingly.
Any SCSY received during the swap will be publicly burned to ensure the amount of SCSY in existence after the swap is adjusted accordingly.
BTI also was added on C-CEX Exchange with BTC Pair , you can check it out here :https://c-cex.com/?p=bti-btc
Technical Information & Links of BTI Currency
[mks_one_half]Social Media & Links
Exchange: C-CEX BTI/BTC
Total Mintage: 6,000,000 BTI
Mining Algorithm: 100% mined
Proof-of-Stake: 3% POS per year