The evolution of cryptocurrency systems: GMB
GMB is a platform that powers a dual cryptocurrency system, created to facilitate ease of transacting in the real world with a virtually generated money. GMB will make the use of cryptocurrency easy by merging the virtual and real world together through a payment system that is convenient, fast and borderless. The dream that created the very first cryptocurrency on a blockchain many years ago, is coming to reality as the GMB coin. This is a great opportunity for early adopters to enjoy a ton of benefits, because GMB coin has come to function as real money for use across the globe. GMB offers the reality of coin accessibility that will drive cryptocurrency adoption.
The first use of blockchain technology was to develop a digital currency that would allow payments without having the limits and restrictions associated with government issued currency (fiat). Since the first cryptocurrency was created, many millions of transactions have been executed in the virtual space. However, the adoption of cryptocurrency for everyday use, both offline and online has been really slow. A large percentage of cryptocurrency users prefer to trade in the crypto market rather than use it for daily payment for goods and services. The great thing is that GMB coin is created to ensure cryptocurrency is universally accepted and used for daily transactions.
GMB UNIQUE FEATURES
GMB platform has created a solution that breaks the boundaries of existing cryptocurrency models, by offering a dual currency system to power transactions in a less complex way for easy adoption by everyone. GMB coin has come to simplify the use of cryptocurrency for everyday use just like fiat.
GMB offers two cryptocurrencies that are unique and dynamic – The Master Coin and the Branch Coin. GMB is an acronym for Gold “Master and Branch”.
1. Master Coin (is the native currency on the GMB platform with asset value and coin features that allow price volatility. It is valued as an investment asset and is listed on various global exchanges as a token. It will be used majorly to power the GMB Decentralised Exchange.
2. Branch Coin is a stable coin that will be pegged to fiat currency issued by the government and it will be issued individually for each country. Because Branch coin is linked to fiat currency, it offers price stability that is important for ease of daily transaction everywhere. The Branch coin is guaranteed with a reserve of 2 billion Master coins already mined.
3. Objective Smart Contract – This is not a coin but an expansion of Smart contract in such a way that is easy for use by professionals to create solutions. Unlike other Smart Contracts created on the blockchain which are usually complex, GMB offers simplified tools for everyone (including people without programming expertise) to create Smart contracts for everyday use. Just like creating a website was made simple with fixed templates, Dapps can be created on the GMB platform with the programming tools by using a varying set of fixed functions.
Factors Limiting the Universal Adoption of Cryptocurrency
· Comprehension: The world at large assumes cryptocurrency is too complex, only for geeks and they are unwilling to explore its possibilities. This is premised on the literacy level in the world and how the early coins were introduced. It is not accepted as real money and its use is limited to a really small percentage of earth’s population. In January 2020, less than 25% of the world population own or use cryptocurrency.
· Fluctuation: The volatility of the cryptocurrency market has contributed largely to skepticism surrounding it. Payment for goods and services will be more trusted if the value exchange is done with a currency that is stable. A merchant may not accept a currency that will plunge in value after a transaction has been concluded.
· Transaction Speed: The main cryptocurrencies in the market operate slowly and offer very low TPS (Transaction per Second). This is one of the main problems of adoption.
ADVANTAGES OF USING THE GMB PLATFORM
1. Overwhelming transaction processing: GMB blockchain is powered by hardware-based Proof of Stake Consensus Algorithm. This fast agreement process is achieved by using block generation nodes that offer high-speed communication between nodes.
2. Scalability – Block generation time is 5 seconds and this will allow the platform to perform efficiently as the user base increases, it will process huge volumes of transactions seamlessly.
3. Better TPS – The GMB platform can power up to One million (1,000,000) transactions per second. This will be the highest TPS in the blockchain space.
4. Security – As a blockchain based platform, transactions are tamper-proof and immune to central storage attack. GMB also ensures that a user completes a transaction by self thereby providing an added layer of security.
5. Objective Smart Contract – Provides a smart contract package that is simple to use. With Dapps that have preset functions, users can quickly create and execute smart contracts without errors while having little or no programming expertise.
6. Simplicity – GMB offers services to allow you make simple and fast exchanges everywhere you go. The interface of use will not be complex and users will not be overwhelmed by the idea of using a blockchain software.
7. Accessibility – Stable coin available for both offline and online transactions, anytime and anywhere.
8. Store of Value – A Master coin that can be used as a store of value due to its potentially high percentage ROI (return on investment).
9. Democratic governance – GMB coin will operate as a transparent and democratic decision-making blockchain platform which would not necessitate a hard fork.
10. Income Generating – Registered users on TravelSpace Dapp will earn through their active participation and original content creation. Sharing fun travel experiences and rating businesses.
How to Obtain GMB Coin
The GMB coin is listed in Cointiger Exchange - https://www.cointiger.com/
For more information: gmbplatform.io/