Technology and prospects of the cryptocurrency JOYS

The internal cryptocurrency JOYS has the properties of utility tokens that is, it can be used either to take into account the actions of users or as a reward to miners. This is a digital asset that does not give the right to manage the company or distribute profits, but gives access to various services of the open blockchain platform Joys.

Before creating your own cryptocurrency, we studied in detail the tools Blockapps, Monax, Waves Platform, Hyperledger, Multichain, Lisk, Stratis Platform, Chain and Ethereum. As a result, Ethereum was chosen as the most suitable solution to fulfill the project goals.

Ethereum is a large and developed community, a good API, detailed documentation and a wide choice of software clients. As well as the ability to use PoS instead of PoW. Plus, everyone Joys available at any time the latest version of the Geth, Ethminer and Mist.

In order to avoid risks from possible too abrupt changes of Ethereum, we have developed the Wallet-server service, which is a bridge between our API and JSON RPC API Ethereum.

It is possible to connect directly to the network for mining or buying currency. But to use all the features, you need to create an account in our system.

The process of the transaction depends on whether the buyer pays JOYS or other digital money, as well as on the scheme by which the store operates: accepts bonus points or digital coupons (prepaid cards).

When making a transaction, our platform automatically exchanges various cryptocurrencies for bonus points of the loyalty program of the store at the current exchange rate. Funds are transferred in accordance with the rules established by the seller. The purchase is registered in the POS-system.

If digital coupons JOYS are used under the streaming agreement, it buys the card in the store and exchanges it at the internal Joys Marketplace for the cryptocurrency specified in advance by the buyer.

The aim of our project is to create a reliable infrastructure for the legitimate use of cryptocurrency in the real economy.

After the ICO, we plan to withdraw our tokens to crypto exchanges and complete the development of marketing mechanics. Next, we integrate the joys V2 API.0 in POS stores in Russia and CIS, then in UES, Southeast Asia, Latin America and North America.

Related posts:

Legality of playing Background music in a Business, a Medium series by Naveen Kumar

Sometimes you need to create the ideal dream job, the one that ticks all the boxes for you, the one that lets you be as creative or fulfilled in your daily working life as you want. It may be that…

Units are impactful for students when they are relatable, interactive, and are the complete opposite of the traditional lesson. These three components were kept in mind when designing my C3 Inquiry…