CUPRUM Coin is a start-up cryptocurrency project that will have a specific physical underlying asset as a backup, an ultra-high purity nano Copper Powder. For a start, we have analyzed, evaluated and stored in the security house Cu Powder worth $1 billion.
Why the cryptocurrency of the future?
Blockchain is a digital ledger of transactions maintained by a community of users. It’s called a blockchain because new transactions are bundled into “blocks” of data and written onto the end of a “chain” of existing blocks that describe all prior transactions. The idea is to prevent any one entity from controlling the blockchain. Blockchain has long been associated with cryptocurrency as it was originally created as the ultra-transparent ledger system for Bitcoin to operate on, but the technology’s transparency and security has seen growing adoption in a many other areas.
Blockchain as technology relies on a vast decentralized network of computers and, as such, has resource-intensive design in terms of energy consumption. Recently, the challenge how to promote the environmentally sustainable development of the applications of blockchain without damaging this valuable sector has arisen.
The consensus is that cryptocurrency mining is the one of a very energy-intensive blockchain application. So called “miner” enables new coins to be created while, at the same time, independently verify and record every transaction made in the currency. As cryptocurrency gets more valuable, the computing effort expended on creating and maintaining it – and therefore the energy consumed – inevitably increases. More revenues earned leads to more powerful machines introduced to guess a random number, and at the end more increase in energy consumed.
As we are a very “religious” about blockchain technology, we will not argue and elaborate here whether the power consumption used for mining is justifiable or not. What makes a concern is the fact that the electricity miner use overwhelmingly comes from polluting source (some surveys explored about two-thirds of it is from fossil fuels).
CUPRUM Coin – the cryptocurrency of the future
As already elaborated, CUPRUM Coin cryptocurrency, unlike other asset backed products, relies on the asset which is a very demanded by the industries of the future, like space industry etc. As such it is also less exposed to the market volatility risk and inflation as well.
On the other hand, we want to position ourselves as environment friendly as possible. Having said that, our idea is to promote, as the number of blockchain application grows, rethinking about current blockchain operations and move them towards using more sustainable, renewable energy sources.
At the end, as part of the company responsibility to the environment, we decided to allocate the portion of profit to the programmes and initiatives dealing with nature sustainability, environment safeguarding and conserving biodiversity.
Coming in June 2021.