As bitcoin in the virtual currency world flourishes in the marketplace, Russell’s coin, as its successor, has been popular with countless people since its birth in 2017. They all say Russell is good, so what’s the point?
As we all know, the most basic function of money is to act as a medium of communication for a product or service. Mishkin points out that in order for a commodity to act as a medium of exchange, it must meet the following requirements:
First, easy to standardize. Obviously, Russell coins are highly standardized because they are only numbers that exist on the Internet and there are no differences in type or quality.
Second, it must be generally accepted. Although Russell coin has not been widely accepted around the world, but Russell coin in just about half a year has been the world’s high attention, as well as the United Kingdom, the United States, Japan, South Korea and other countries in varying degrees of recognition.
Third, easy to split also is easy to find zero. Because of the non-physical nature of Russell coins, people can pay directly to any decimal amount without having to find zeros, this degree of fragmentation is far beyond the reach of the real currency.
Four, easy to carry. Russell coins are very portable. Users simply save their personal private key and can use it on any computer or terminal equipped with Russell Coin software, similar to logging into online banking with a password.
V. It will not decay quickly. Russell Coins are just numbers on the network that neither wear out nor deteriorate and do not disappear over time.
In addition to the above advantages, compared to Bitcoin, the Russell coin has a greater advantage in the blockchain, the Russell coin is more secure than Bitcoin. Russell Coin in this blockchain database decentricization is better than Bitcoin, so-called decentralization, to give a simple example, such as we shop on Taobao, I pay merchants, will be through Alipay, a third-party platform to achieve transactions. Although the security of the transaction is guaranteed to some extent, the personal information is easily disclosed.
At present, the decentivization of The Russell Coin’s trading concept makes buyers and sellers do not need a third-party platform, which not only makes trading more convenient and secure, but also does not worry about their own information leakage. This decentricization of transactions also reduces the cost of maintaining third-party platforms for transactions in the long run.
In the end, the anonymity of the Russell coin is more prominent than bitcoin does. The confidentiality of information is a core advantage of Russell Coin RC, Bitcoin transaction process can not achieve real privacy protection, for those business users who do not want to disclose a little information, this is not enough, now they have a reliable choice – Russell Coin, based on the above anonymous privacy technology characteristics, Russell Coin can theoretically be completely confidential to business users.
The many advantages of Russell Coin make it a natural king currency, and Russell Coin avoids many defects in the design concept of other digital currencies, so this is why it is recognized by everyone.