CUPRUM Coin is an emmy liquid PoS native blockchain, a commodity coin, built on forked Tezos. CUC is backed by underlying assets in the form of ultrafine high purity copper powder, with the vision of creating a missing market for one of the most valuable elements in the world, through blockchain technology.
Cuprum Coin solves the problem of a missing market and opens the possibility of trading to small and private investors, as well as institutions, while until now this was only possible for privileged banks and the manufacturing and consumer industries.
For the purposes of the CUC project, 10,800 kg of ultrafine high purity copper powder worth over $30 billion is stored in a high security facility in Germany.
Cuprum Coin was founded in 2021, and it is named after the Latin name of today’s Cyprus (Cuprum), where large amounts of copper were mined in the time of Roman era. CUC bears the symbol Cu, the symbol of the chemical element copper, from which ultrafine high purity copper powder is produced.
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.
Cuprum Coin is listed on the WhiteBIT exchange on August 22, 2022. Trade CUC/USDT now.