The idea of using cycling energy to mine cryptocurrency
There is currently an open-source Blockchain known as Transcendence, that is focused on decentralisation and offering full competitive advantage to existing systems like AmiCloud.
The Amicloud system is an internet-based file storage and file sharing facility, that can be found on the indieGO app store. The company is busy making its platform ready to offer an open marketplace for developers and artists alike. This will give content creators a way to interact through a decentralised messaging service that will be provided as an option for private communications.
The native cryptocurrency of Transcendence is called the Telos coin, with wallets being made available soon through eight operating systems. These include Mac, Android, Linux, Windows and iOS, while support will be offered to AmigaOS, morphOS and AROS. Currently there is a online web wallet for the storing of Telos coins, which makes transactions quickly and easily executed. However it is not very well known for storing crypto’s safety. Merchants can integrate the TelosPay system into their website if they so choose or wait until the release of the wallet app.
The Transcendence team has released a video explaining its offerings to consumers, stating that its Telos coin was a direct fork of the PIVX crypto algorithm. The video explains that:
“Low energy consumption in comparison to other Proof of Work coins means Telos Coin offers an extremely low cost entry point, which means there is a significant reduced barrier to entry for users. Everyone can now enjoy the benefits and security of the Blockchain technology and cryptocurrency.”
The project is said to be based on a decentralised and democratic peer-to-peer model. This makes the network resilient for the Transcendence coin, as no single entity will be able to stop the network from working, keeping funds safe and secure for the users.
The next generation in cryptocurrencies and blockchain networks
One of the most focused points of this project is the integration of a dashboard which gives users the freedom to send and receive coins, check balances and monitor current exchange rates for the Telos.
The project has released a whitepaper where the Transcendence project is explained. Furthermore, users will be able to experience ProfitCycle, which is a concept that will enable crypto enthusiasts to earn Telos cryptocurrency as they ride their bikes. The app can be used as a wallet, a navigation system and community hub, while directing the user to places where their cryptocurrencies can be spend.
A power bank can be used in order to power the ProfitCycle features, with the launch of the product, users will be able to purchase a kit to adapt to their current bike, or through buying a completely new one that comes ready with the technology.
The Transcendence blockchain project has a lot going for it, with a monthly online contest and global ranking system as well as a trading card called CryptoMages. The Telos coin is currently listed on a few exchanges including Graviex, BiteBTC and SouthXchange.
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