What is Denarius (DNR) Crypto Beginner’s Guide
The cryptocurrency world has come a long way from the days of Bitcoin and the few other digital altcoin precursors. Many successful cryptocurrencies began their rise to fame on the back of Bitcoin. Now there are over dozens of altcoins to choose from. Some developers didn’t want to stay reliant on Bitcoin for long and chose to take their cryptocurrency projects to the next level.
Some altcoin developers wanted security or privacy, while others wanted to compete with Bitcoin directly. This is where you can now see all the wide variety of humanitarian projects, decentralized blockchain networks, and dozens of altcoins promising to be the next “it” coin of the decade.
Bitcoin will always have a stronghold on the various cryptocurrency exchanges and markets due to its usability, constantly expanding merchant network, and blockchain capacity. But it doesn’t mean it will always be this way. Some cryptocurrencies have chosen to take on Bitcoin by doing what Bitcoin could not.
Many cryptocurrency developers and teams have taken on the challenge of creating something far more decentralized than Bitcoin while maintaining the value of proof of work and proof of stake.
But what makes Denarius different from the rest? How can they really compete against the other top 100 cryptocurrencies? The answer lies within what Denarius represents and the innovations it has already made for the cryptocurrency community.
Denarius: Bringing Ancient Money to Your Digital Wallet
Denarius, bringing ancient Roman history to your computer by innovating cryptocurrency beyond Bitcoin’s wildest dreams. Denarius started as an offshoot of Bitcoin but slowly became something more as it focused on its algorithms and hybrid system of earning Denarius coins. The major goal of Denarius is to one day be one of the major cryptocurrencies used for various payment networks.
While Denarius may be a young cryptocurrency it definitely has a lot of potential for not only growth but also reaching its mission as a payment currency.
How Does Denarius Work?
Denarius uses a core software similar to Bitcoin. The main inner workings of this cryptocurrency lay within the Tribus algorithm. This algorithm was made specifically for the Denarius coin and is not used by any other cryptocurrency. The algorithm has also allowed the Denarius cryptocurrency to remain impervious to the ASICs.
People earn the Denarius cryptocurrency by using a hybrid method of proof of work and proof of stake. Either method will allow people to gain coins and have them placed in their Denarius wallets.
For those who take part in the proof of work method, Denarius will give coins to all of the users who took part in the mining process. People who use the proof of stake method get coins placed in their wallet where they can earn interest on a classic saving account. The more Denarius coins a person has the more interest they can accrue.
The Denarius wallet works on Windows OS and Mac OS, which is a bit of a bummer for Linux OS users. But people who have the Coinomi application on Android can use the Denarius wallet.
Final Thoughts on Denarius (DNR)
Denarius offer people another type of payment currency. With its sound algorithms and hybrid method of earning it is definitely a cryptocurrency worth trying or investing in.