Cryptocurrency

Russia created a cryptocurrency to replace Bitcoin – SibCoin!

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Russia created a cryptocurrency to replace Bitcoin – SibCoin! It has garnered huge support in the national crypto-community. It has become the coin of choice for thousands of seasoned numismatists.

Siberia is Russia’s legendary treasure trove, yet denizens of this rugged land, just like the rest of the country, often do not feel like their living conditions fully reflect their input to the economy. The blockchain is seen as a solution to corruption and bureaucratic inefficiency by many. But due to insular political views and general mistrust towards big ideas coming from the West, most Russians until now were not ready to trust bitcoin easily. They needed something familiar and relatable to introduce them to the world of the blockchain. And thus, Siberian Chervonets (SibCoin) was born. The cryptocurrency’s adoption has been growing since then.

SibCoin is a Dash fork, employing additional encryption algorithms devised by Russian cryptographers. The coin’s adoption has been growing rapidly ever since the first block was mined in May 2015.

SibCoin is striving to become the driving force behind the consolidation of Russian blockchain community. Frequent community meet-ups are held in every large Siberian city and scores of cities in western Russia and neighboring countries.

Learn more about SibCoin at – http://sibcoin.org/en/

Source: BitCoin News!  For all the latest trends, tech news, reviews & new technologies follow us on Instagram, TwitterFacebook.

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Article By
Saurabh Sharma
Saurabh Sharma

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