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Destiny Wants To Change Finance And Cryptography

by on March 5, 2016

This is a sponsored story, paid for by the Destiny team.  Always invest at your own risk. 

There are various alternative forms of digital currency, and most of them try to bring something entirely new to the table. Destiny – the coin, not the person – is one of those currencies that sees itself more as a project than an altcoin itself. In fact, the developers firmly believe cryptocurrency in the future of money, so why not develop a plan that will help achieve that goal?

Destiny Is A Digital Currency Project

Although there is very little information known about the Destiny project for the time being, the team behind it is determined to change the way we think about cryptography and conducting finance. With a huge lack of innovation in the financial sector over the past few decades, there is no more opportune time than now to get involved in the digital currency space.

Unlike a lot of other altcoins which have launched in recent months, Destiny is not subject to a premise or insta-mine by the developers. This means all of the coins ever to be mined – roughly 170,000 during the proof of work phase – will be distributed among the miners. Speaking of mining Destiny, there are two mining pools up right now, as users can choose between Suprnova and GCPool.

Block rewards for people mining Destiny will decrease over time, similar to how Bitcoin mining works. However, after the first 40,500 network blocks, Destiny will switch over to its proof-of-stake phase, which will net coin owners 10% interest per annum. That number will also decrease by 50% every year, avoiding hyperinflation of the altcoin. Coins will start staking after 60 minutes, and it takes 20 blocks for stake amounts to become spendable.

What makes Destiny so interesting is how the wallet addresses are completely different from what people have seen in the digital currency industry to date.Rather than starting with one number or one letter, all wallet addresses begin with “DES” followed by a string customer numbers and letters. This may not seem significant to some people, but it’s nice to see something different at least.

So far, Destiny has been listed on the YoBit exchange, where it sees decent trading volume so far. Prices are picking up as well, as the coin value increased from 4,000 Satoshi to over 20,000 Satoshi at the time of publication. This may be due to the roadmap the team announced a few days ago, which makes mention of an expanse-asset swap and getting listed on major exchanges shortly. Additionally, there is also a note about the development of smart contracts for anonymizing the Destiny-token.

Source: BitcoinTalk

Header image courtesy of Destiny

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.
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