A lot of industries, having tasted cryptocurrencies and attested to their benefits, really want to see these digital assets grow to a global level.
Its sway on the global financial system just within the little time it has been in play is so enormous as it has introduced unrestricted profits into the system and by using it either as an investment type, or a payment medium, different individuals, industries, and other establishments, have gained greatly.
Just within a few years, cryptocurrency was created, and the world is already experiencing a robust economy, so just imagine what could be achieved with this digital currency, being used over a long period of time.
Most systems that have seen its potential and have begun using it have been elevated all around, leading to increased output.
For this level of benefits offered by the cryptocurrency to its users, there must be something that makes it tick, a technology that is behind its efficient performance and its ability to function as a tool for unrestricted cross-border payments as well as a cashless economy.
That brings us to Blockchain technology, the revolutionary tool responsible for the effectuality and numerous benefits of cryptocurrency.
While having a taste of the cryptocurrency, security is still very paramount, being that these digital assets are used digitally, the security issues and threats are real, as user’s assets, transactions records, and personal information stored digitally, can be stolen by hackers or siphoned by the system owners, probably for their personal gains.
The main reason for the slow adoption of cryptocurrencies in nearly every part of the world is that no one would want to lose their funds to dishonest systems or the incessant attacks of hackers, it isn’t fair.
A Solution To Cryptocurrency Adoption
Cryptocurrencies need to be introduced into all facets of life and a means of using them should be made available too. One of this incorporation is seen in the creation of a digital asset by the Republic platform, using the Algorand Blockchain as a Building Block.
Before we dive into the digital asset that will run on the Algorand Blockchain, we need to have a foreknowledge of the Republic platform.
The Republic Platform
Republic is a digital platform that serves as a private investing system and provides technology-based services to global users.
Republic gives its users the opportunity to invest in any company, especially in those at its early stage of development to give them full access to the profits that come from the company.
Since its inception in 2016, the Republic private investing platform has verified more than 200 different start-ups to ensure their Genuity and protect the users, when they invest. It currently supports investments from over 700,000 users and has recorded a high success rate during its operation.
A platform as good as this which is focused on giving global users hope for the future through investment in start-ups is really vital to the world.
But, to remain relevant in today’s world, the Republic platform needs something that will guarantee this and so the need to adopt cryptocurrencies.
Republic sees the need for this adoption and understands how far it will go in improving its services to the world, so it has planned to launch its own token to keep up with the technological revolution to do this, the use of an advanced Blockchain is very important.
Algorand Facilitates The Creation Of the Republic’s Token
Algorand INC. is a system that has built the first open-source, Permissionless Blockchain, which uses the PPOs(Pure Proof-of-Stake) algorithm as its consensus mechanism to facilitate a great revolution in the financial system.
The Algorand Blockchain makes available tools for building DeFi projects and improving different systems.
Algorand Blockchain makes the creation of applications and tokens to be easy, and it has the tools and all the techniques that will make the creation of the Republic’s token.
Distinguished Features Of Algorand’s Blockchain
- Algorand Layer-1 smart contract: This smart contract helps for seamless payments as well as easy transfer of assets to be made, through the removal of intermediaries and in most cases, dishonest actors by introducing trustless transactions.
- Algorand Standard Assets (ASA): This is another feature of Algorand Blockchain which lets it tokenize any asset easily, using its Layer-1 mechanism thereby solving the problems of asset tokenization on other Blockchains.
- Atomic Transfers: Algorand Blockchain is also built to facilitate every kind of transaction such as the simultaneous transfer of assets in a secured way.
Every transaction on the Algorand Blockchain is executed at a low cost with great speed.
All these are just a piece of the cake when it comes to the features of the Algorand Blockchain.
The Republic platform prefers to use the Algorand Blockchain which at different times, has demonstrated its reach and efficiency when compared to other Blockchains.
The digital asset that will be created by the Republic on the Algorand system will be a profit-sharing token which will help unlock more profits for users when they invest.
Benefits Of The Republic’s Token To Users
The holding the Republic’s token, the users now benefit from whatever profit is realized on the platform.
Now here is the great thing about this token…
The token isn’t just open to those investors who are considered to be worthy because they have lots of funds to invest, rather it is made accessible to even non-accredited users who do not have a lot of funds.
It makes it possible for anyone to become an investor irrespective of the person’s monetary worth or income rate as they are free to invest even little amounts into different start-up projects.
A user does not necessarily need to have millions before they can invest and enjoy the benefits thereof, all one needs is the acquisition of the Republic token.
The Algorand Blockchain just keeps surprising people with interesting features and great benefits, this has led to its adoption by different digital systems that wish to perform effectively.
Because the Algorand platform is an open-source Blockchain where anyone can take part and even build, a use case that is in line with the Republic’s aim of letting anyone invest in start-ups, it is just the best of its kind and the qualified Blockchain for the job.
The Republic’s token being built on the Algorand Blockchain is one of the sparks that lead the world to realize the solid structure of the Algorand Blockchain.
For cryptocurrencies to take effect in the world, it needs to be globally accepted and integrated into different systems, and the Algorand system is here to help the world transition into that, by giving them tools that will help in the successful incorporation of the Blockchain and cryptocurrencies.