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Jadeitecoin — The Solution To Banking Problems Jadeitecoin is applying blockchain technology to fight income inequality and other economic issues

By Shishir Jajoo

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Jadeitecoin was created to "help reduce income and wealth inequality" and "connect global economies by giving everyone access to overseas transactions." Borjan, the founder of Jadeitecoin, stated that "The World Bank reports that more than 1.7 billion people still do not have a bank account. Banks would need to open thousands of more branches globally. It will be costly, time-consuming, and near impossible.

On the other hand, people can use the Jadeitecoin wallet from anywhere in the world to send and receive funds, regardless of their resources. In other words, Jadeitecoin helps level the playing field by allowing people who otherwise never had the chance to now participate in international transactions. This in turn connects economies which would otherwise have remained isolated and promotes economic growth."

The Rapid Structure

In sharp contrast to traditional transactions that may take a couple of days to finalize, Jadeitecoin is fast and secure. As a result, it helps users overcome the tiresome experience common to traditional transactions, offering them a smooth, efficient, and quick alternative transaction method.

Thus, its users can make international transactions within seconds as the coin prides itself on being one of the fastest and easiest decentralized options for sending and receiving assets.

Besides ensuring fast and smooth international transactions, the coin is also another big player in the remittance sector. As a result, millions of people working overseas can bypass the traditional and slow money transfer services and embrace Jadeitecoin.

Jadeitecoin connects global economies and allows users to securely secure international transfers, thereby ensuring easier, cheaper, and more secure overseas remittance processes.

Security and Privacy

The NIST5 algorithm was integrated into Jadeitecoin to ensure that it is efficient but also highly secure.

The NIST5 is a proof-of-work mining algorithm that combines hashing algorithms to the final stage of the NIST hash function competition.

The algorithms are:

· Keccak (Daemen et al.)

· Skein (Schneier et al.)

· BLAKE (Aumasson et al.)

· Grøstl (Knudsen et al.) and

· JH (Hongjun Wu)

While explaining the reason behind using the NIST5 algorithm, Borjan noted that "it was designed as an ASIC-resistant algorithm. That is why it is very energy-efficient and approachable for almost any grade of gear. Besides, due to the five algo-based protections, NIST5 is very safe and secure."

The future of Jadeitecoin looks bright. With its recent surge in usage, many people are turning towards cryptocurrencies as an alternative form of payment that does not rely on banks or governments for security. The currency was valued at over 9 million dollars and has already surpassed one million dollars' worth of daily volume; with this number expected to increase as it becomes listed on more exchanges and interest grows worldwide.