What you'll learn 👉
Introduction
Crown (CRW) is a digital currency influenced by royal European history. It was launched as Crowncoin in 2014.
Crown includes capabilities of both the DASH and Bitcoin protocols. The currency can be purchased via the platforms Bittrex, LiteBit. eu, C-Cex, YoBit and CoinExchange.
Crown Coin – The Cryptocurrency
Crown coin can currently be mined together with bitcoin. For the future, however, it is planned that this will change with a new consensus mechanism.
The most important differences from Bitcoin are that Crown confirms transactions more quickly, and has an additional layer of security provided by Throne network masternodes. The most important difference from DASH is that Crown can be merge-mined with Bitcoin so that it has the capability to leverage the security provided by the bitcoin network’s hashpower.
Crown can be mined via Cryptoid and Crown Explorer. Technically, Crown has the capabilities of the DASH and Bitcoin protocol.
Crown is a masternode coin. Users with 10,000 CRW can run the Crown program, called Thrones in server mode (or masternode).
Crown has three types of nodes. Service Nodes, Specialised node and Chronos Nodes
Service Tron nodes; These are Traditional Tron nodes which will process transactions.
Specialised Tron nodes; Will enable decentralised applications to be run on them.
Chronos nodes; These nodes will serve as the time keepers of the network.
The Crown team are united in the belief that proof of work consensus models are a waste of finite natural resources and that the future of blockchain and cryptocurrency cannot depend on the use of millions of dollars of electricity every day. This is the main reason that Crown currently uses merge mining to piggyback and make use of already expended resources on the Bitcoin network.
Crown has developed a new consensus model that will eventually replace PoW. Crown Atomic paves the way for this new consensus model which will subject to academic rigour during the course of 2018.
With a clear and logical structure that includes an app feedback and a user interaction model, Crown offers its users the freedom to act.
Crown Coin – The Company
Crown has been in existence since mid-2014 and was founded by Filip Major and Jan Brody.
In cooperation with 1229 Tron Masternodes, the company designs its concept according to the self-government concept, which guarantees the user development and independence.
The founders behind Crown are pursuing two major goals: a decentralized, self-financed project led by the Crown community itself, which is designed to provide free and accessible Internet based on the blockchain.
Crown Coin also wants to support its growing community and encourage them to develop their own apps based on Blockchain and Crown.
This is to be integrated into an economic model which should expect a major development in the future. Crown wants to be more than just a coin for his community.
Conclusion
The Crown community is written in capital letters. This statement is underlined not only by the fact that the platform is completely self-financed, but also that it is governed and managed by the community itself.
The company plans to carry out further developments with the help of its community in the future.
You can’t buy it directly for fiat on any exchange. You can choose the best coin exchange for your region and buy BTC there, then trade it for CRW on exchanges. Read here how you can quickly convert other coins to bitcoin and the other way around.
Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase is trustworthy and has acceptable fees and it is a leading platform for buying BTC.
If Coinbase doesn’t support your country, use Cex.io – read how Cex.io works – it is a good Coinbase alternative. Coinmama is also safe exchange for buying cryptocurrencies – click here to visit Coinmama.
If your country is not available on Coinbase – check for best Coinbase alternatives (such as Cexio and Indacoin – see here Indacoin exchange review) and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see if Changelly is legit place to trade crypto), instantly and directly to bitcoin.
Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet (if it is supported) – our recommendation is just go and buy Ledger Nano S or Trezor Wallet
or KeepKey
, those are the safest options. You can read our articles on how to use Ledger Nano S wallet and where to buy it and Trezor Wallet Review or check out other top hardware bitcoin wallets here. You can also create a paper wallet – learn here more about crypto wallets. We have also compared top 3 hardware wallets: Ledger vs Trezor vs KeepKey.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
