Entrepreneurs from Argentina are developing JasperCoin (JAC), a virtual currency that could potentially change how cryptocurrencies are mined in the future. Gerardo Ratto, the CEO of JasperCoin, highlighted that the platform is based on blockchain technology and includes putting together a team for the mining of the cryptocurrency.
Focus on Payments
JasperCoin will initially be aimed at purchases and payments for products and services between companies. Preferably, the companies should be SMEs (small and medium-sized enterprises). For mining, it will use a “Jaspberry” minicomputer which can be connected to a WiFi network and operates with low power consumption. This would be a qualitative difference when a comparison is made with how Bitcoin operates. Bitcoin mining requires large equipment with huge electricity consumption for mining. The platform also includes a digital wallet that will work as an app on smartphones.
Any person or company can acquire a Jaspberry (do not confuse with the raspberry). The Jaspberry comes with a mining license when purchased. When JAC is successfully mined, the coins will automatically appear in the users’ digital wallet. The reward for the miner would be 100 JACs in the initial stage, but this number would gradually reduce to create zero inflation conditions. The Jaspberry project will be financed through the Kickstarter platform.
A More Accessible and “Cleaner” Mining Process
“Jasper is an equal, decentralized and non-competitive platform,” said Gerardo Ratto. Jasper aims to make the mining process more accessible and generate a value proposition so that the currency can be used as a business tool. When explaining why JasperCoin is a sustainable option, Ratto pointed out that unlike Bitcoin mining, that requires large amounts of energy at high costs, mining JACs is simple and economical. Only a CPU with minimal electricity consumption is needed.
The mining process that creates the JasperCoin (JAC) currently uses a small fraction of the electricity required by the proof-of-work (PoW) platforms. Consuming less power means the mining of JACs solves a major environmental problem.
“Our goal is for the cryptocurrency to be in the hands of millions of people,” Ratto said. The Jasper network is designed to operate with a high volume of transactions at a speed 40 to 50 times greater than the Bitcoin network. All this is done in a more economical way and is also scalable. “We are focused on delivering a good customer experience,” Ratto pointed.
Ratto encourages the population as a whole to study the use of cryptocurrencies because they are here to stay. His other reason was that the Latin American market would not want to be left behind. If you are interested in Jaspberry, you can check out its website for more details.