Sapphire Coins: Pushing Crypto Use In Mainstream Global Economy
Bitcoin and other decentralized public cryptocurrencies have been here for almost a decade and have made their place in the global economic framework. The reason why cryptocurrencies have turned popular is because of its transparency, security, peer-to-peer money transfer, and better control over their fiat counterparts.
Although cryptocurrencies bring all these benefits to the table, they have seen a relatively slower adoption among retail investors and users. Also, the aim of using crypto assets in daily purchases for goods and services remains compromised at this stage.
This is because P2P crypto payments take a few several minutes to process the transactions. Although cross-border cryptocurrency transactions are faster and cheaper over the traditional banking systems, the infrastructure isn’t robust enough to handle PoS terminal transactions. Thus, cryptocurrencies have turned out to be more of investors’ paradise over retail use.
Breaking this ice is an upcoming cryptocurrency project dubbed Sapphire Coins (SAPP coin). Also called the “Pragmatic Coin”, the Sapphire Coin will have payments and rewards systems based on the principles of the real-world economy.
The Sapphire Coins (SAPP) shall be used as a stable means of payment in the real economy and shall be issued only to the trustworthy partners bringing value to its ecosystem.
Catering the Demands of Real-world Economy with SAPP coin
Unlike several other cryptocurrency projects which launch their crypto tokens through ICO or IEO, the SAPP developers have taken a different approach. With the SAPP coin, the goal for developers is to develop an easy-to-use crypto-token, ensure faster payment transfers and can be used and wanted for different purchases.
The current developers for the SAPP coin have experience working in the real world economy and thus they know the pulse of the market. Thus, while developing this SAPP coin, stability, real value creation, and money supply are the key essential parameters.
Besides, the developer team is also working on robust interfaces wherein the SAPP coin can be used for real-world purchases online and offline while complying with all laws.
For supporting the entire community, the developers receive rewards in different ways. One is in the form of staking rewards. This means that the developers receive an interest in staking their SAPP coins on the Sapphire blockchain that operates on the Proof-of-Stake Consensus model.
The other way is rewards obtained as part of the compensation obtained for the provision of masternodes. Masternodes is similar to a full node server in a network. Full nodes are a key part of any blockchain responsible for processing transactions and later storing them on the blockchain network. Additionally, a Masternode has special rights not usually available to the full node operators. The Masternodes are also responsible for the safety of the entire network.
However, to be a Masternode operator, you first need to deposit some coins to the network as per the minimum threshold. From 2020, the SAPP masternodes will supposedly receive 95% of each block reward.
Some Key Features And Utility of the Sapphire Coin
- SAPP Shopping: As Sapphire is looking to push the mass adoption of SAPP coins, The SAPP shopping platform allows users to pay for their goods and services without using any sort of fiat money. You can grab your Amazon gift cards against your SAPP tokens.
- The rewards you earn with SAPP masternodes (ROI far over 200%) can be exchanged directly into Amazon Vouchers on SAPPSHOPPING. This, in turn, can enable the purchase of real goods.
- SAPP OTC: Sapphire’s “Over the Counter” services is for those who want to buy/sell the SAPP tokens in a massive quantity. Trading huge quantities on normal exchanges can result in wild price fluctuations triggering several orders. Thus, to avoid any foul play by the speculators, SAPP has its own OTC counter for making large purchases.
- SAPP Rewards and SAPP Explorer: To support its entire community of developers and node operators, the Sapphire platform has got a built-in comprehensive rewards system.
Similarly, the SAPP Explorer platform offers real-time information about block times, transactions, masternodes, etc.
To make use of the SAPP features, you first need to purchase the SAPP coins on any of the three exchanges including Heliobank, Midas, and Crex24. The SAPP wallets are available on both – Windows as well as MacOS platforms.