What is Coins ? Salmonation coin or token?
Images : Salmonation Blockchain
What is coin?
Coins in the crypto world refer to digital assets built on their own blockchain network. These digital assets are published by those who developed the blockchain protocol. Coins are often referred to as native crypto assets, aka “natives” in the blockchain network. For example, you must be familiar with Bitcoin (BTC), the champion in the world of digital assets. Yes, BTC is a coin in layer 1 (L1) because it is built on its own network. Then there is also Ethereum (ETH) which is the native coin of the Ethereum network. And other coins built on own blockchain network.
Following are the characteristics of crypto coins.
- Decentralized, the amount of circulation is by mining (PoW)or staking (PoS) and does not depend on one particular institution or authority.
- Built on a blockchain Technologi or other type of digital ledger technology.
- Using cryptography as a security network.
Coin Usecase
The origin of crypto coins comes from Bitcoin which was launched in 2009. At that time, the anonymous developer Satoshi Nakamoto intended to make Bitcoin a decentralized peer to peer (P2P) payment transaction. and as a medium of exchange
In other words, the intention of creating crypto coins was originally a payment medium like fiat money, with freedom and without being regulated by certain institutions or authorities. because Crypto is on a decentralized network.
now not all countries want to recognize Bitcoin and Altcoin payments. In fact, only El Salvador has legalized the use of Bitcoin for transaction purposes.
However, that does not mean the value of the benefits of crypto coins just disappears. Because crypto coins also have two other functions today.
- Investment Asset
Crypto assets such as BTC and altcoins as investment assets. An example of an investment company in America opening up BTC and Altcoins as value for investment instruments.
Today, the crypto community and investment companies consider Bitcoin to be “digital gold” because it has the properties of a store of value like fiat money. However, the supply of bitcoins is limited, which is only 21 million BTC.
2. Coin as the Guardian of the Blockchain System
Using coins as transaction fees is the guardian of the sustainability of the blockchain network. Using blockchain technology, the community must compensate developers for maintaining the reliability of the technology. Well, that’s why the crypto community is required to pay a “blockchain transaction fee” to the developer or miners, which of course is paid for with the native coin.
Salmonation (SUI) Coin
Salmonation Smart contracts are created on the Binance smart chain network (SUI Smartcontract) and are managed by a team of technology and blockchain professionals and experts in the crypto asset business. Binance Smart chain is our first step to step further into the stage of the smart contract based blockchain world.
Salmon chain is one part of the goal for wider development and will reach local and international markets with technology that is compatible with Ethereum virtual machine, we are very confident, that we will be able to become part of the local Token association that will be present in the Salmon chain network in the future.
The technology that what we use is the same technology as developed by Ethreum , and the reason for us to develop this technology is the Algorithma which is very compatible and environmentally friendly, and has been used by some of the world's leading companies.
With the presence of this Blockchain “Salmonchain SRC20 & SRC721", we believe that we can become a big part of blockchain technology and we are ready to compete with foreign developers.
Blockchain SalmonChain
Website : https://salmonchain.com
SalmonChain Explorer :
https://testnet.salmonscan.com
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