Qovar (QC)

Truly Decentralized Coin

Review Score
ICO Price
0.027897 USD
0.00016 ETH
Pre ICO Price
Soft Cap
Hard Cap
Pre ICO Start Date
2 August 2018
Pre ICO End Date
31 August 2018
Start Date
2 August 2018
End Date
31 August 2018

What is Qovar?

QOVARCOIN is a decentralize crypto currency that is created on the proof of stake concept Proof of Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins he or she holds . This means that the more Bitcoin or altcoin owned by a miner, the more mining power he or she has.

The proof of stake was created as an alternative to the proof of work (PoW ), to tackle inherent issues in the latter. When a transaction is initiated, the transaction data is fitted in to a block with a maximum capacity of 1 megabyte, and then duplicated across multiple computers or nodes on the network. The nodes are the administrative body of the blockchain and verify the legitimacy of the transactions in each block. To carry out the verification step, the n des or miners would need to solve a computational puzzle, known as the proof of work problem . The first miner to decrypt each block transaction problem gets rewarded with coin . Once a block of transactions has been verified, it is added to the blockchain , a public transparent ledger.

Qovar (Qc) is a community-led coin that has 70% of its development completed before its website is launched. The purpose of doing this is to create the next bitcoin meant to eradicate feeling of being left out, feeling of animosity and to give the CPU and desktop holder a chance to use his laptop and phone and gadgets in a more decentralize way. With BTC about to be mi ed to a closure of 21 million coins , All CPU and mining gadgets usage are going to be focused on other decentralized coins w hile just a percentage of them will still stick to transaction backup.

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