PALO ALTO, Calif., September 28, 2021 (GLOBE NEWSWIRE) – Monsoon Blockchain Corporation, an innovative blockchain company based in Palo Alto, Calif., Announces the next generation of digital cryptocurrency ecosystem to power Bitcoin Latinum. Bitcoin Latinum is an insured, asset-backed cryptocurrency. Based on the Bitcoin ecosystem, Bitcoin Latinum is greener, faster, more secure and poised to revolutionize digital transactions. Monsoon Blockchain is the primary developer of the Bitcoin Latinum network on behalf of the Bitcoin Latinum Foundation.
Bitcoin Latinum was designed as an open architecture cryptocurrency technology capable of handling large transaction volumes, cybersecurity, and digital asset management. Monsoon Blockchain Unveils Official Attributes, Differentiators, and Major Usage Benefits of Bitcoin Latinum, which include the following areas:
Increase in transaction volume
Bitcoin Latinum offers a highly scalable network that will initially support up to 10,000 transactions per second and millions of transactions per day to facilitate retail transactions. Its scalable architecture makes it possible to increase transaction rates to meet demand. With its Proof of Stake consensus method, Bitcoin Latinum ensures that the network facilitates more transactions per minute at lower transaction fees.
Bitcoin Latinum reduces the cost of traditional Bitcoin transactions from the average of several dollars to just pennies per transaction, with an average fee per transaction of $ 0.1 in 2021. This is achieved with a variety of mechanisms, including the protocol. energy efficient consensus, approved node configuration, high performance node interconnect, and shorter confirmation.
Using an efficient consensus mechanism, Bitcoin Latinum provides a much better on-chain payment network than Bitcoin, with an average transaction confirmation in 3-5 seconds. This immediately leads to a reduced transaction size and increases the transaction volume capacity.
Consensus greener and more energy efficient
Bitcoin Latinum uses an advanced version of the Proof of Stake (PoS) mechanism to counter the problems inherent in Proof of Work (PoW) based networks. PoS allows LTNM holders to earn rewards for holding their coins as collateral for placing on the Bitcoin Latinum network. This leads to less electricity consumption. Historical tokens such as Bitcoin ask for up to 885+ kWh and Ethereum 102+ kWh of energy consumption per transaction, compared to Bitcoin Latinum which reduces the amount to just 0.00015 kWh per transaction.
Insured and backed by assets
Unlike other existing cryptocurrencies, Bitcoin Latinum is an asset-backed cryptocurrency and strives to be the largest digital insured asset in the world. Its assets are backed by a fund model, so the value of the core asset increases over time. It accelerates the growth of this asset-backed fund by depositing 80% of the transaction costs into the asset fund that backs the currency. Thus, the more Bitcoin Latinum is adopted, the faster its asset fund grows, creating a self-inflating currency.
Bitcoin Latinum uses a representative government model to achieve democracy in its ecosystem. This is done by allowing community members to participate in the governance mechanism of the protocol through the staking model. The goal is to protect Bitcoin Latinum against 51% of attacks that often expose potentially disabling flaws in many existing protocols.
As an early adopter, Monsoon Blockchain will use Bitcoin Latinum to develop powerful blockchain technologies and business solutions, in addition to digitizing and indexing the assets of businesses and organizations around the world. The first industries to be served will be gaming, financial services, telecommunications, media and entertainment, as well as cloud and data storage. Monsoon Blockchain Facilitates Bitcoin Latinum Launch on Public Exchanges in 2021.
As a cornerstone of Monsoon Blockchain’s strategic plans to drive mass adoption of Bitcoin Latinum, the company has forged global partnerships with companies that will integrate the token for their retail transactions. Significant adoption of the Bitcoin Latinum and Monsoon blockchain ecosystem has taken place, with an emphasis on insurance, entertainment, gaming, and data storage entities.
The global adoption of cryptocurrencies for use in retail transactions has been steadily increasing. In the span of four months in 2021, the global crypto user base doubled from 100 million to 200 million. Big business has taken notice. Major restaurant chains, movie theaters, and retail websites have started testing and accepting cryptocurrencies for payments.
The ease of buying cryptocurrencies has increased dramatically over the past two years. Major online payment services now allow their hundreds of millions of users to buy and sell cryptocurrency. In the world of bank payments, major banks based in South Asia have started testing cross-border payment systems for digital currencies in partnership with a consortium of central banks, according to reports.
Dr Donald Basile, CEO and Founder of Monsoon Blockchain Corporation, is the former CEO of Fusion-IO, a company known to play a major role in the implementation of cloud systems in major financial institutions and global giants of the ‘computer science.
Dr Basile is also co-CEO and Chairman of Roman DBDR, a specialist acquisition company, which raised $ 236 million when it went public in November 2020. Roman DBDR has announced a merger with CompoSecure, a pioneer in premium payment cards whose customers include some of the world’s largest financial institutions. The merger of the two companies will create a combined enterprise value of approximately $ 1.2 billion. CompoSecure will soon launch its new cryptocurrency cold storage solution, Arculus, allowing users to securely and securely store and manage their digital assets on a state-of-the-art metal payment card.
More information on Bitcoin Latinum is available at https://bitcoinlatinum.com/
FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NO INVESTMENT ADVICE. Any Bitcoin Latinum offered is for educational and informational purposes only and should NOT be construed as an offer or solicitation related to securities or be viewed as personalized investment advice. Bitcoin Latinum strongly recommends that you consult a licensed or registered professional before making any investment decisions.
Company: Monsoon Blockchain Corporation
Contact: Wei Ming, Director of Communications
Address: 2100 Geng Road, Palo Alto, CA 94303, USA
Telephone: +1 800-528-0985
THE SOURCE: Monsoon Blockchain Corporation