SwiftCash

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Description

SwiftCash is an open-source, self-funded decentralized governance and economy project that aims to be a digital store of value and facilitate peer-to-peer daily transactions. Launched in 2018, it features cheat-proof lotteries and on-chain HODL/Term deposits, enabling time-locking of coins without custodians. Utilizing a Proof-of-Stake consensus mechanism, up to 10% of maximum inflation funds stakeholder-supported proposals, another 10% rewards network maintainers, and 80% benefits HODL/Term deposits. SwiftCash actively trades on 8 markets with a recent price of $0.00040687 USD and a 24-hour trading volume of $324.24. Current total supply is approximately 262 million SWIFT.

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FAQ

What is SwiftCash and its primary purpose?

SwiftCash is a cryptocurrency launched in 2018, designed to function as an open-source, self-funded system for decentralized governance and economy. Its primary purpose is to serve as a digital store of value and to enable peer-to-peer transactions for daily use. Additionally, unique features include cheat-proof lotteries and on-chain HODL/Term deposits.

How does SwiftCash's Proof-of-Stake mechanism work?

SwiftCash employs a Proof-of-Stake consensus mechanism, where stakeholders contribute to the network's security and decision-making. The system allocates up to 10% of maximum inflation funding to stakeholder-approved proposals, another 10% to reward those securing the network, and the majority 80% can go to coins that are time-locked on the blockchain from 1 to 12 months.

What distinguishes SwiftCash from other cryptocurrencies?

SwiftCash differentiates itself through its decentralized self-funding model, cheat-proof lotteries, and on-chain HODL/Term deposits, which do not require custodians or third-party services for locking coins. Its reliance on a Proof-of-Stake system further sets it apart by focusing on rewarding stakeholders for network security and decision-making support.

What are the benefits of participating in SwiftCash's HODL/Term deposits?

Participating in SwiftCash's on-chain HODL/Term deposits allows users to lock coins for a period of 1 to 12 months, possibly earning rewards associated with holding without needing custodial services. This method supports the decentralized aspect of assets management while potentially increasing the stake's value based on future market conditions.

Is SwiftCash actively traded, and how has its value changed recently?

SwiftCash is traded on 8 markets, with a 24-hour trading volume of $324.24. The last known price of SwiftCash was $0.00040687 USD, noting a -1.69% change over the previous 24 hours. It's important to monitor these metrics to make informed trading decisions.

How can stakeholders propose and support projects in the SwiftCash ecosystem?

Stakeholders can propose and support projects through the decentralized governance system funded by SwiftCash's unique self-funding model, allocating up to 10% of maximum inflation for stakeholder-approved proposals. Engagement in the governance process is crucial for enhancing network growth and adapting to community needs.

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