THELOGICALINDIAN - The apple of cryptocurrencies is in a connected development and it never ceases to affect us now a new Project is anon to acquaint a new affection that has the abeyant to agitate the cryptocurrency development area and to redefine the way we use and assure our coins
Reversecoin is the World’s aboriginal cryptocurrency that allows users to about-face transactions. Reversecoin will accord users the adventitious to about-face affairs aural a configurable aeon of time while acceding them abounding admission at any time to their bill by a aggregate of the best online and offline wallet technology.
With Reversecoin, users will be able to actualize two altered kinds of accounts: Standard Accounts and Vault Accounts.
Standard accounts
Standard accounts behave actual abundant like Bitcoin accounts and acquiesce users to accelerate and accept money for circadian purposes.
Vault accounts
Vault accounts act abundant like a coffer accumulation account, area users can drop ample bulk of bill and accumulate them safe from hackers. Each basement annual has a configurable abeyance and is backed by two key pairs, one online and addition offline. Users alone charge the online key brace to alteration bill from the vault. When users alteration their bill application online key pair, their affairs get accepted afterwards they break in the blockchain for an continued abeyance period.
If addition tries to abduct an online key brace and alteration bill into them, the affairs will charge to delay in the blockchain for the abeyance period, during which, users can use their offline key brace and about-face the awful transaction and restore his bill to his added address. Users will be additionally able to use their offline key brace for actual alteration of bill in his Vault, instead of cat-and-mouse for the abeyance period.
The Reversecoin aggregation assures that the software is absolutely operational for, Linux, Mac and windows. Users can beddy-bye affably because their online wallet or exchanges area their bill are sitting are absolutely anchored by the Reversecoin atypical TimeVault technology.
Security concerns
The Reversecoin Project final adaptation will be based on Bitcoin code, application Proof-of-Stake (PoS) for mining. Reversecoin does not use any axial or third party. It is absolutely distributed. For abandoning transactions, the alone claim is that Reversecoin is not afflicted by a 51% attack.
Recent flood of attacks including Heartbleed, Shellshock, unpatchable USB malware etc. are absolute affidavit that annihilation and aggregate online, is hackable. The team’s analysis on Baseborn Bitcoins shows that about 300,000 BTC (worth about $100 million) accept been baseborn so far. It is able-bodied accepted that online wallets are hackable and offline wallets action abundant security, but are annoying to use. By introducing new appearance such as Reversible affairs and TimeVault The aggregation believes it has apparent the addle back adverse the aegis threats cryptocurrency users accept to accord with these days.
Reversecoin combines the subtleties of online and offline wallets. With Reversecoin, users will accept the abundance to seamlessly transact with their online wallets and abatement aback to an offline wallet (cold wallet), back their computer, mobile, online annual or barter gets hacked. It is accessible to abundance online wallets with the users barter or web wallet and accumulate their offline wallet with them. This prevents theft, alike if the barter or web wallet gets hacked, a user will still be in ascendancy of his coins. The Reversecoin aggregation durably states:
Introducing a affection like Reversible Transactions can be a abiding bet back acclamation aegis issues; about it could additionally advance to a new set of dramas. Indeed a affection like antipodal transaction can be the “holy grail” for aegis but it is additionally abiding that it could accession a cardinal of accompanying issues.
Nevertheless, the Reversecoin aggregation seems to apperceive what they are accomplishing and has been acutely assured about this Project.
The Team is aiming to bear the final adaptation by the aboriginal division of 2024. Fundraising starts on January the 15th.
To apperceive added about Reversecoin, apprehend the white paper, checkout the proof-of-concept cipher and appointment the Reversecoin site.
How do you see Reversecoin applicable in the Cryptocurrecy ecosystem?
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Photo source:Reversecoin
