The car market breakers, The Auto Block, announces the launch of The Auto Coin, a simple and commercial solution for the purchase of cars through cryptocurrency
The Auto Coin, the first autonomous blockchain-based cryptocurrency created specifically for the automotive industry, has been launched to offer cryptocurrency owners the revolutionary opportunity to use their coins to be able to pay for new vehicles through a secure and digital transaction for the first time time.
Automatic money was built in response to the growing demand for place to spend cryptocurrency – particularly in the United Kingdom. Its introduction into the market will result in a new and substantial outlet for cryptocurrency owners to spend their digital resources where previously they have never been before, since until now it has been virtually impossible to spend it.
Powering The Auto Coin is a hybrid blockchain technology that combines both public and private blockchains. The possibility of using the private blockchain platform increases the eco-efficiency as it requires a much lower computing power. Automatic Coin uses the borrowed game-tested consent that a user can own or hire to reflect the power of user extraction. For mine, users will need a hosted server and at least 1,000 coins, of which there will be a fixed supply of 400 million available.
Mohamed Ezeldin, director of The Auto Coin, said: "As a completely new purchase model, automatic money also addresses the flaws in the current blockchain system using a hybrid approach." Through its revolutionary approach to bridging the gap between current online consumer buying habits and digital finances, The Auto Coin's main goal is to bring cryptocurrency into the mainstream and provide a commercial level for the use of digital pay-per-use currencies. "
Thomas Delgado, CEO of We Buy Cars Today (webuycarstoday.co.uk), believes Auto Coin will transform the automotive industry:" As one of the UK's leading auto purchase companies, with hundreds of thousands of customers in the last seven years, we recognize how blockchain technologies are gaining momentum in the industry.As a result, we are pleased to be one of the pioneers in the op Automatic Coin, which allows faster and safer transactions for our customers and a way to unlock new business opportunities for ourselves. "
Automatic money also benefits from the same level of anonymity as other currencies to support secure and private transactions, allowing cryptocurrency users to purchase cars so as not to exchange personal information when making payments and all resources will be stored on Hyper Ledger Fabric: automatic money will be managed on the Ethereum block-block public platform and using smart contracts to communicate between both blockchains.
The entire platform is designed to enable and improve vehicle payments making them instantaneous with the ability to process 200,000 transactions per second Currently, traditional credit or debit payments, which also entail high transaction costs, within the automotive space are often hampered by delays in liquidation by the Buyer, this can result in long and embarrassing temp i wait for owners of new cars.
Through technology, buyers will simply have to scan a QR code to make the purchase of their vehicle.
Ezeldin continued: "The Auto Coin is solving the problem" now "for the future of the use of cryptocurrency – the automotive sector is just a market where you can use this digital currency."
# I; ICO of automatic coin sales has just begun and is expected to end in mid-September.
For more information, visit: www.theautoblock .com / autocoincars