Thursday, November 20, 2014

PandaCoin: Develops World’s First Hybrid Cryptocurrency Wallet - Inbuilt Lightweight Mode, Instant Sync Technology & Rapid Blockchain Download

Courtesy of PandaCoin

PND Accepted: PSDrPgAGybQagcRct2G1usKFD1SELpS5DA

Press Release

Pandacoin (PND) Develops World’s First Hybrid Cryptocurrency Wallet - Inbuilt Lightweight Mode, Instant Sync Technology & Rapid Blockchain Download

November 17th, 2014:  Pandacoin (PND) released a major update today to their ‘Crypto-Banking’ wallet – PandaBank, making it the world’s first cryptocurrency main storage client with the ability to switch to a lightweight version of the client, ‘PandaBank Lite’. Pandacoin’s main wallet mode is now called ‘PandaBank Hybrid’, integrated with ‘Instant Sync Technology’ (IST) and ‘Rapid Blockchain Download’ (RBD); allowing their new users to immediately synchronize with the blockchain and utilize their Pandacoins right after installation of the client, and reducing the time to download the entire blockchain from 4 to 24 hours, down to 5 to 15 minutes. 

A spokesperson for Pandacoin explained, “We as a team had identified several user experience problems with the typical main storage of cryptocurrency clients that have yet to be addressed adequately. New users to any cryptocurrency should not need to wait for many hours and in Bitcoin’s case, sometimes even a week, for their wallet to download and synchronize with the blockchain, before being able to see and utilize their cryptocurrencies. Using lightweight clients is a possible solution to this problem, but not ideal for any Proof of Stake based cryptocurrencies, as users are then not participating in interest staking or helping to secure the network to prevent 51% attacks. However, we understand that some of our current and future users will have bandwidth and hard drive storage restrictions, so we are giving them the option to easily switch to ‘PandaBank Lite’ within the same client.”

Cryptocurrency ‘Wallet’ User Experience Redesigned

PandaBank was the world’s first main cryptocurrency wallet designed with a familiar conventional internet banking interface, released on August 30th this year. It was designed with a user experience catering to those that are new to the concept of cryptocurrencies, reminiscent of their own online internet banking experiences. The latest major update to Pandacoin’s ‘Crypto-Banking’ storage client focused specifically on making cryptocurrencies more appealing to the mainstream audience, by improving the user experience for someone new to the cryptocurrencies when they interact with their main storage client after installation for the very first time.

One of the most common and frustrating complaints with users new to cryptocurrencies is “Why can’t I see or use my cryptocurrencies after installing the wallet?”. For the majority of current cryptocurrency wallet clients, syncing with the network involves slowly downloading the entire blockchain from a single peer before being able to see and utilize their newly obtained cryptocurrencies. With Bitcoin, most of their new users have to resort to using lightweight clients such as ‘Electrum’ or ‘Multibit’ to bypass downloading gigabytes of data and taking days or even a week before synchronizing with the network and being able to use their Bitcoins. 

Pandacoin’s approach to this issue is introducing ‘Instant Sync Technology’ and ‘Rapid Blockchain Download’ for their main wallet mode, PandaBank ‘Hybrid’. ‘Instant Sync Technology’ synchronizes with the Pandacoin network immediately, so users don’t have to resort to a lightweight client if they want to see and utilize their Pandacoins immediately, and still be able to earn 2.5% annual interest and help secure the Pandacoin network. ‘Rapid Blockchain Download’ uses multiple peers (up to 16) to download the entire blockchain, resulting in download times reduced to an average of 5 to 15 minutes. 

Hybrid Wallets Provides Users the Best of Both Worlds

Pandacoin users can now opt to switch back and forth between ‘Lite’ and ‘Hybrid’ versions of PandaBank under the mode settings tab of the client. This is useful for individuals that have limited bandwidth or hard drive storage space restrictions and require a lightweight client that does not store the entire blockchain on their device. Typically, stored data with PandaBank ‘Lite’ will only be several megabytes. 

The ability to switch back and forth between modes also allows users flexibility if they are travelling to a location where they have limited access to internet bandwidth, and would like to be able to access and use their cryptocurrencies on their laptop whilst away from home. In this scenario, there is no need to download and install a separate lightweight client to remain synchronized with the network, and have your cryptocurrency all in one place with the same client and the same addresses, all at the touch of a button. 

About Pandacoin (PND)

Pandacoin (PND) is the first cryptocurrency designed, developed and packaged specifically for the mainstream mass market, with a specific focus on simplicity and ease of usage. It has been around since early February 2014, with the aim to bring something new, fresh and better than Bitcoin on the market. 

For more information about Pandacoin (PND), please visit Detailed information regarding current development releases, future planned developments and general future direction could be found from our official announcement here -   

Pandacoin (PND)
Jo Sidaris (Bdanyo) / Public Relations Coordinator

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Sunday, November 16, 2014

QuickSilver: A Pure PoS Coin Catering To The Taxicab Industry

Courtesy of QuickSilver

QSLV Accepted: QQzb1nni2SE3J2EQsWTgJbW9PLG1ZQkW7W

QuickSilver is a next generation cryptocurrency with a unique focus upon winning the taxicab industry by providing improved security and privacy for consumers, and reducing transactions fees for business owners.  The pre-announcement of QuickSilver was unveiled on October 26th, 2014, but the open sourced software was not officially launched to the public until November 5th, 2014.  This followed a successful ICO which raised 173 BitCoin in crowd share funding, which is going towards the development of the infrastructure and branding necessary to bring the project to success.  QuickSilver is lead by Benjamin Harrison, who has been a part of the altcoin community since 2013 and runs his own writing and editing service called

QuickSilver is an innovative altcoin which is a pure Proof of Stake coin, and has an annual stake rate of 6% with a minimum staking age of 4 hours.  The coin was initially designed with a total of 5,000,000 coins, however, after the coins which went unsold in the presale were destroyed via Bittrex, it's total coin supply was reduced to under 3,500,000.

The wallet's user interface is a next generation wallet with several built in functions which surpass the usability of the first generation QT wallets.  Along with the standard, Overview, Send Coins, Receive Coins, Transactions, and Address Book tabs, it contains an in-wallet Statistics tab which displays current network information, and an in-wallet Block Explorer for convenient blockchain search.

The QuickSilver Team is on a mission to establish QSLV as a meaningful form of payment in the multi-billion dollar taxicab industry to further push cryptocurrencies along the road towards mainstream adoption.  Consumers in large cities are becoming increasingly wary of credit card fraud and cash theft, and QuickSilver provides a swift and secure payment method to protect them from these dangers.  A mobile application is under development which will allow consumers to conveniently load QSLV onto their phone, and then make instant one-click payments at the point of sale.  The taxicab drivers are encouraged to adopt QuickSilver as a form of payment as the drastically reduced fees will lower their bottom line due to the avoidance of expensive credit card fees.  Protection from any potential volatility in the market will be provided through instant QSLV to USD transfers, which will be implemented through the mobile app.  Additionally, plans are in place to rollout a taxicab review system, complete with bounties that consumers can earn for taking the time to review a cab.

The simplicity behind QuickSilver allows consumers who are not familiarize with cryptocurrency to utilize cryptocurrency without even realizing it.  QuickSilver has the ability to achieve where BitCoin has failed by making the process simple to use.  Consumers can easily load cash directly into their QSLV account for instant usage, whereas cash to BitCoin conversion is often a multi-step task that often discourages new consumers from adopting cryptocurrency in their everyday lives.  QuickSilver has designed the process to be easy to use for both the consumer and taxicab business operator.

The concept behind QuickSilver is simple and focused, and could grant a big boost for mainstream cryptocurrency adoption when it begins to catch on in the taxicab industry.  For the purposes of establishing a Proof of Concept for the system, the QuickSilver Team is currently focusing the majority of their efforts upon reaching a level of adoption in New York City, however they are simultaneously building strategic relationships in international markets as well.  The QuickSilver Team is building a future where consumers will be able to use the QuickSilver app on their mobile phone to locate, rate, and review, and hire rides from all sorts of transportation services around the world.  Thus QuickSilver's long-term goal is to reach widespread adoption far wider than just the yellow cabs of New York City. 

The ambition behind the QuickSilver Team's project is tempered by their focus upon reaching achievable goals and milestones, thus the project avoids the common pitfall of aiming too high too soon, and so missing any meaningful goals all together.  QuickSilver is backed by a hardworking and transparent developer team who are determined to leverage their experience in business communication and marketing to make QuickSilver a long-term and widespread success.
"Streamlining the taxicab industry through cryptocurrency" - QuickSilver Team

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