The world is constantly in search of a reliable means of exchange – money that is not only for buying and selling but serves as a store of value and highly immune to inflation. With the advent of blockchain, there is the sudden demand for money that is completely out of the control of governments and financial institutions. Bitcoin opened everyone’s eyes to that possibility.
Over the years, money has not been able to show that it is indestructible; only Gold has measured up to that quality as a means of exchange. Even with that, gold still lacks some qualities that should make it the standard of payment globally. The SoundMoneyCoin (SOV Coin) has beaten gold to a second place.
Why the world should adopt SoundMoneyCoin
SoundMoneyCoin possesses several qualities that make it better positioned than any other money – fiat or cryptocurrency – to meet all the requirements that sound money should have. Some of these sterling attributes include:
Physically indestructible: Before now, gold was the only recognized means of exchange that was physically indestructible but gold has now been overtaken by SoundMoneyCoin (SOV Coin) which is not only indestructible but proven to be harder than gold. This makes it highly durable and able to withstand wear and tear.
It is browser-mined: Bitcoin and a lot of other altcoins require the use of hardware and expensive machines for one to be able to mine them. Apart from making it difficult for miners to make tangible profits, it also makes bitcoin out of the reach of the common man. Since SOV Coin is browser-mined using Metamask, you don’t need to invest too much money to mine it.
It is decentralized: This means that the coin is not under the control of state governments and financial institutions. You are in complete control of your portfolio and you determine how to spend your money.
It is fast: The SOV Coin is built on the Ethereum blockchain, which is known to be several times faster than the bitcoin when it comes to transaction confirmation.
Mining is free: You only need to pay the Ethereum transaction fee.
It is tradable: You can easily trade your SOV Coin on the ForkDelta app: https://forkdelta.app/#!/trade/DAI-ETH and exchange it for other currencies.
Supply and distribution
The supply of SOV Coin is capped at 21 million. The coin is emitted slowly, with the generating rate of the coin tied to Ethereum block generation rate. New coins are only minted once per block with the minter receiving 0.005 SOV. The sum of 0.0001 SOV is added to the fund to develop the SoundMoneyCoin ecosystem further each time a new coin is minted. One great advantage of the coin is that it is going to take up to 122 years before its total supply is fully mined.
A new hope for the financial industry
SoundMoneyCoin could easily become the darling of the financial industry and displace gold as a secure store of value. Since the world needs money whose value is not easily affected by global inflation, SounMoneyCoin may likely become globally adopted and the most reliable coin for transactions. For more information, join the Discord group: https://discord.gg/CaRXygb