How to Use SpyritCoin: A blog about using SPYC on the Spyrit platform.
About Blockchain
Blockchain is a decentralized ledger. It is a network of computers that have identical copies of a database and change their state (records) to a common agreement based on pure mathematics. All this means that there is no need for a central server or any entity we trust (e.g. central bank, notary, bank, Paypal, etc.). Blockchain is the technological basis for all cryptocurrencies, be it Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is a smart contract, a piece of code that is stored on the blockchain network (in the database of each participant). It basically defines the conditions under which all parties use a contractual agreement. Therefore, if the required conditions are met, certain actions are executed. Since smart contracts are stored on all the computers on the network, everyone should run them and get the same results. This way the user can be sure that the results are correct.
Some of you may confuse the notion of the collapse of traditional money and digital currencies. While in conventional money, emptying is a terrible thing, it is a positive component for digital currencies. In conventional money, emptying refers to a resource reduction in costs due to certain conditions, for example, over-stamping. With regard to Bitcoin, smoothing will generally refer to the most extreme supply of the digital currency. To be honest, the flowing supply of BTC will diminish in the long run as private keys are lost and coins become unrecoverable. Many other forms of digital money are also deflationary.
Deflationary crypto dwindles in its market supply over time. This variable indicates that the client or business group will take part in an exercise that reduces the coin stock on the blockchain. A typical method of achieving this goal is to use tokens. The important point is that a limited-supply form of digital money is of course deflationary. They achieve this status because as long as financial backers buy and hold coins, their supply decreases. An outstanding model is Bitcoin, the main coin in the crypto market and holding the most important power to date.
About SpyritCoin
SpyritCoin is a deflation utility token based on the Polygon network built around two practical conventions; Reoccurring Tax Back to Investors, and Liquidity Acquisition.
What is Utilities?
The utility for SpyritCoin will be used in the working platform around SPYRIT. The stage has conventions that allow clients to swap with fast exchange speeds, automatic compound marking, high return cultivation, and non-stop NFT tagging.
Our Progress
- DEFI
Applications that rely on the DeFi standard, to ensure the liquidity of the free streaming business sector. - Decentralized Trading DEX
based on the Polygon Network which will allow clients to buy, sell and trade their coins or tokens securely. - Range
Convert your SpyritCoin from Polygon organization to Spyrit Chain. - Staking and Farming
Staking your SpyritCoin or NFT to earn from your guest house or liquidity pool. - Blockchain
The Spyrit Chain will be another Layer 1 blockchain convention centered around further developed usability and scalability, with insignificant gas costs. - MetaVerse
A unique story-based MetaVerse game with NFT uses and in game NFT content, called Spyrit Realm. Created and delivered on Spyrit Chain.
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