Rimbit is distributed not by mining but by direct sales, negating all issues that mining encounters and also eliminates the 51% attack. It does this by limiting how many coins it has available for sale and has created a end of sale period, which ends on April 18, 2015 at which time there are no more coins being distributed at “ground zero” and instead they need to be purchased direct from those who currently hold the coin, or by some local distributors in Germany, UK and Belgium. This is innovative and the closest thing to full decentralization. Theyare building as many tools, such as user based exchanges, shopping carts, Geomapping for Droid and so on, so that after the 300 days, there would be no primary facility that they dont have covered. As far as known Rimbit is the only Crypto Currency that is doing this and they are doing it all inhouse with strict development regime and with salaries being paid to developers. After the 300 days, there is no reason that Rimbit cannot continue to prosper with all the resources that have been put into it. All other crypto, relies on time given and donations to get projects done. Decentralization is fine if it works and so far its people scrambling around and falling short when tasks need to be completed. A simple look at GITHUB will show how many projects (and good ones) have been abandoned, simply because the time and resources where not there. Rimbit is building simplicity inti features and thats the primary goal. Will Rimbit be the next gifted child of the Digital Currency era? We can only speculate, but they have done some interesting, yet controversial way of developing and distributing the coin that on the surface is 100% centralized, but is programed in such a way to reverse its centralization in 1 day to become fully decentralized and owing its existence to nobody but the user. Another interesting feature that simply blows imagination is the fact that Rimbit increases its coin production every year, at the wallet end, by having in its code the ability to create more coins, based on the amount of coins the user holds in their wallet. For some its called “stake” but for the layperson, its called Interest (10% per year) and that in itself puts the wallet closer to operating like a bank than any other coin on the market.
Posted on: Sat, 01 Nov 2014 11:11:12 +0000
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