Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Levelcoin - Proof of Stake / Proof of Burn Hybrid - Inflation Immune
by
Level Coin
on 29/01/2014, 23:02:43 UTC
The anonymity is a courtesy to users. By personalized I did not mean have their name attached to it. I simply meant they will have a username/password that they create the first time they run the wallet. Once logged in they will see their specific amount of Level 1 coins which I hand placed depending on their funding amount.
ok, thanks.
What’s with the security? If everyone is having on wallet then there will be a time when someone has a lot of money within this. In BTC or other cryptos you can save something of your coins on a paper wallet or cold storage or you can split it in several wallets to secure your money from data loss or cybercrime. Is there anything possible like this with this one-per-person-wallets?


Level 1 and 2 coins have diminishing returns that are attached to the wallets. If you transfer these coins into a new wallet, then these diminishing returns are reset. Which is why I am personally handing out wallets one by one (for now, until I get a reliable automated system to do it properly). You can create multiple copies of this wallet. This wallet is far more secure than most wallets available, including BTC. Should someone steal your wallet, to access it they would need to input the username and password that you created upon startup the first time. As long as you had a backup somewhere and your passcode is difficult to crack, your coins will be safe. On the other hand, if someone got their hands on your BTC wallet, kiss that money goodbye. You could probably created hundreds of copies of your wallet and upload them all over the internet and your coins will still likely be intact. Thieves will have to crack both the username and password, and since these are encrypted on the wallet, its nigh impossible. You are more likely to get your e-mail account hacked into because hackers will already have the user name.