TROY - Fort Knox In Your Pocket (Project review)
Crypto's Only Producer Of Gold Products And Creator Of The World's Most Secure Digital Vault
INTRODUCTION
In 2017 the price of bitcoin reached parity with gold (by ounce) which grabbed the attention of gold investors around the world. With cryptocurrency going mainstream there has been a surge in interest with the concept of gold-backed cryptocurrencies.
A brief history of digital gold currency. The idea of a gold digital currency has always had an appeal for those looking for an alternative payment system. Not long after the internet went mainstream E-Gold emerged as the first digital currency backed entirely by gold in 1995. At its peak, millions of people around the world were using this service until it was shut down. Other attempts to make a digital gold currency were also made, but this was before the age of Bitcoin and blockchain technology. Now with blockchain technology established as a secure accounting method, and with Bitcoin becoming better known to the general public, a new era of gold-backed cryptocurrency is emerging. There is a proverbial (and literal) gold rush happening now in the crypto world, and even countries are looking to issue their own gold-based cryptocurrency. The basic concept is certainly compelling. A token or coin is issued that represents a value of gold (for example 1 gram of gold equals 1 coin). The gram of gold is stored by a trusted custodian (preferably third party), and can be traded with other coin holders. At a minimum the price of the coin will always equal the current gold rate. If the cryptocurrency becomes popular then the price of the coin can potentially increase in value, greater than the value of gold. If the cryptocurrency doesn’t take off then the value remains as the value of the gram of gold. It’s like a built-in stop-loss. There of course many risks as well. While the blockchain accounts for the coins, accounting for physical stored gold is another matter. When evaluating such tokens look for who actually owns the gold and how it is stored. In this regard our online gold partner BullionVault as a good example of accountable gold storage. When evaluating a gold crypto make sure that you own the gold.
Gold-Backed Cryptocurrency Directory. This is a current list of gold-backed cryptocurrency. This is a directory and not an editorial endorsement, so research all of the alternatives before investing. Some of the cryptocurrencies listed here don’t detail how they store and account for gold either, so proceed with caution. Any questions regarding each coin should be referred to their social media channel or forum listing. Since this post was first published there have been new coins added to the list and some are now ready to buy. The list is now sorted in order of availability.
TROY is the Ethereum-based cryptocurrency which is designed to allow both experienced and layman users to purchase gold products. The tokens issued during the Initial Token Offering (the private sale is going on) will be accessible via one of the most secured and reliable digital asset wallet in the world. With the advancement of fingerprint, live facial and live retina technology, TROY is creating the world’s most secure and simultaneously user-friendly digital storage. And we believe TROY is the Ethereum-based cryptocurrency can strengthen it with a right and reliable framework
The 'TROY Vault'
The TROY Vault Is A World Leading Cryptocurrency Wallet In Terms Of Security And Ease Of Use. TROY’s vault will be accessible via easy-to-use cross platform mobile and desktop apps. They will include the following features:
• Advanced multi-level biometric security;
• Personal portfolio analysis;
• Offline wallets;
• Live market updates;
• Secure moderated social interaction.
The app will soon be open for your feedback! Join our ongoing ITO now and get your 40% bonus: troy.gold
The TROY Vault Provides Secure Access To Sensitive Personal Information, Images, Videos And Other Digital Files Accessible Only By You.
Secure & Simple
Offering triple lock biometric security, customers can combine or use separately facial, retinal, thumb print or password as the access key to their Vaults. Accounts are automatically generated and ready for use in less than 2 minutes.
Confidentiality & Privacy
Your private keys are stored only on your phone which means they cannot be accessed from any outside source or be stolen from cloud based storage. TROY will never store any personal information relating to its users, with the exception of your email addresses and public wallet addresses.
Ether & Token Support
Through TROY's connection to the Ethereum Blockchain, users will be able to send any token or Ether to friends or family – quickly and easily, even if they don't have an account or wallet!
TROY's ERC-223 Smart Contract
When we were preparing our Smart Contract we took took a long time comparing our options based on protection, compatibility and how easy it would be for our customers to use. With these considerations in mind we decided to use the ERC-223 Protocol and here's why:
Improved Security: ERC-223 handles transactions explicitly. It protects token holders from accidentally sending tokens to a smart contract. So far, this issue has resulted in more than $600,000 being lost to various smart contracts. With ERC223 this problem is in the past.
Lower Fees: ERC-20 conducts a transaction by sending tokens to the smart contract, and then forwarding the tokens to the recipient, this results in two transaction fees. ERC-223 sends the transaction direct to the recipient without the requirement of two transactions and thus costing 50% less.
Blockchain Speed: As ERC-223 only requires one transaction as opposed to two, this technically halves the transaction speed. As a result, bloating of the Ethereum blockchain is prevented
Backward Compatibility: Although ERC-223 is a different standard, it is backward compatible with ERC-20 applications and DApps.
TROY's Smart Contract:
TROY's smart contract will be launched on the Ethereum blockchain after TROY's token sale is complete. This is to allow for code audit's to be completed and to allow TROY to launch code with the most up to date security patches upon completion of TROY's token sale.
Why Invest In TROY?
The Main Reason To Invest In TROY Is To Make Money And Here's How:
TROY GOLD tokens are offered with as much as a 40% bonus
TROY's 50% Token burn will continually increase the value of your remaining TROY GOLD tokens
The expected increased spot price of gold when you exchange TROY Gold tokens for gold products
You can recommend a friend through our affiliate program and earn Ethereum
Free competition and Bounty campaign where you can complete simple tasks to earn more tokens
How To Buy
In order to buy Troy Gold tokens you have to do the following:
-Register
-Set up a Troy account
-Go through KYC
The entire process takes between 5 to 10 minutes and you only have to do it one time. After that you can log into your account anytime and see how many tokens you have purchased. If you decide to become an Affiliate or benefit from any of our promotions, you will also see how many extra tokens you have earned.
https://www.minds.com/danilhadiwinata/blog/troy-fort-knox-in-your-pocket-project-review-997069169378926592