What is Tokugawa (TOK) Crypto Beginner’s Guide
Tokugawa is a decentralized, blockchain-based platform that supports a digital currency, the Tokugawa Coin (TOK). Tokugawa utilizes blockchain technology to create a peer-to-peer system for the exchange and reward of the coin. With fast transaction confirmations and instant payments guaranteed, Tokugawa aims to become user’s first choice for transferring digital money on a global market.
The Tokugawa platform and corresponding coin got their name from the Shogunate, the name for Japan’s pre-modern supreme military leaders. From 1603 to 1863, Japan was ruled by a series of shoguns known as the Tokugawa Shogunate. Tokugawa aims to be Japan’s first Masternode crypto coin.
Users may use Tokugawa to safely and securely send and receive currencies from anywhere in the world. With regular maintenance and smooth flow, the platform supports fast and instant transactions and uses a Proof of Stake (PoS), Scrypt hashing algorithm. With a single wallet, participants have the option to either stake the coin or create Masternodes; these produce the coins and ensures that the network continues to run. The Tokugawa coin is a PoS-only coin, which ultimately benefits wallet holders.
Features of Tokugawa
Tokugawa did not have an ICO, an initial coin offering. Instead, the platform relies on its users to create Masternodes or stake its coins; this way, users can start earning rewards directly before the coin even hits exchanges.
Tokugawa’s fast transaction time is made possible by 20 second blocks. Proof of Stake Masternodes confirm the transactions; investors who hold at least 2,500 Tokugawa coins in their wallets create the Masternodes and receive a reward in return. A Masternode is a wallet that is kept online 24/7 from a home PC. The wallet continually verifies the transactions of the Tokugawa coin; in return for leaving their wallets open and running, participants receive 75% of the block rewards.
The Tokugawa Coin (TOK)
The Tokugawa Coin is Tokugawa’s internal form of cryptocurrency; this is the coin that users mine in their wallets, and that they can send and receive all around the world. The TOK is used in transactions and exchanges, and is currently listed on Cryptopia, with plans for lisiting on KuCoin, Bittrex, and Poloniex. The supply of TOK has a hard cap at 20 million.
The Tokugawa Coin is a PoS-based token. Rewards are given in the form of TOK for users who participate in the mining of Tokugawa Coins. Users can invest in the token and hold 2500 coins in their wallets to create Masternodes. If they can’t afford to hold that many coins, they also have the option to stake and still receive daily awards by keeping any amount of coins in their wallet. Staking also depends on age; the longer users hold coins, the more those coins are worth, and the more rewards they receive. Staking receives 25% of the block reward, while creating Masternodes receives 75%.
With its PoS coin, Tokugawa is a cryptocurrency that both depends on its users, and ensures that it benefits those users. With fast transactions times and guaranteed security on blockchain technology, Tokugawa aims to provide Japan with a cryptocurrency that is beneficial and unique.