The developers of YoCoin, one of the fastest-growing cryptocurrencies in the world, have announced that they have converted their peer-to-peer digital currency into a new Ethereum-based asset.
Formerly based on the Scrypt mining algorithm, YoCoin now enables smart contracts that function without lawyers; stock exchanges without central clearinghouses; financial record-keeping systems that can be verified without an auditor; and even tamper-proof voting systems that automatically guarantee one vote per person.
Since YoCoin initially launched, targeting the younger millennial crowd has been one of the primary goals of the project. YoCoin sees itself as the premier internet currency, and now it also encourages the development and integration of Distributed Autonomous Applications that can run without any human involvement.
“Our initial implementation of YoCoin was great, but we wanted to take it much further,” said Dave Wilson, Chief Operating Officer of YoCoin. “The new version of YoCoin provides a backbone for smart contracts, asset trading, real estate transactions, escrow services, income distribution systems, and an unlimited number of other uses that can all run as programmed without any downtime, censorship, fraud, or third party interference.”
YoCoin uses the Ethereum network to transact, as well as for storage purposes. YoCoin is revolutionizing the digital economy by harnessing the power of an already established blockchain to boost security and ensure reliability.
Owners of the old version of YoCoin can swap their coins for the new YoCoin at a 1:1 ratio. The new YoCoin is also available to anyone else who would like to buy the asset.
For more information on YoCoin, visit http://www.yocoin.org
Press release distributed by Pressat on behalf of YoCoin, on Monday 1 August, 2016. For more information subscribe and follow http://www.pressat.co.uk/