Denarius Review – Ancient money for a new world
Denarius(DNR) is a cryptocurrency created by Carsen Klock. DNR is popularly referred to as ancient money for a new world. It is been characterized with a proof of work and proof of stake hybrid consensus. This cryptocurrency features a new algorithm known as Tribus.
The normal fiat Denarius is quite an ancient Roman coin carved out of silver. Not too long a cryptocurrency was introduced with the name Denarius. it is based off the original Bitcoin core by Satoshi Nakamoto.
Tribus is the proof of work hashing algorithm for DNR. It is been characterized by three high profile cryptograpghy algorithm.
Denarius features many changes, such as Stealth Addresses, Encrypted Messaging and Tribus(a new PoW hashing algorithm that is ASIC resistant). A max of 10,000,000 DNR is to be created during the hybrid PoW/PoS lifecycle of 3 years. This will now transitions to Proof of Stake entirely after the first 3 years.
VALUE OF DENARIUS
Presently one(1) Denarius(crypto) is valued at $1.73 according to coin market cap. Although for the past few weeks there have been tremendous fluctuation in the price of cryptocurrency. Its market cap is $4,099,840. There are about 2, 8289,991 DNR is in supply.
The ancient fiat denarius was considered to be relatively low. If we were to base the value on the relative price of silver. A denarius(fiat) weighs on the average 0.10 Troy ounces. With silver selling at approximately $20 per Troy ounce, this would have a value of approximately two dollars in today’s currency. Therefore, it was a relatively low valued coin when it was in circulation over 2000 years ago.
Denarius (ancient money for a new world) was built with intentions of solving the issues in bitcoin’s growth. It uses the same trusted block chains technology directly from bitcore code. This decreases the block time significantly to provide a much faster and responsive network. Bitcore code is necesssary. In helps to achieve a much higher transaction volume and speed that are now expected of mass-adopted modern crypto currency network. Moreover it has certain decent advantages. Below is a chart showing the growth of DNR from July 2017 to February 2018.
DENARIUS FEATURES/ ADVANTAGES
Besides fast transaction and being the first Tribus algorithm in existence, the developer also focuses on delivering encrypted messaging (already implemented) and stealth addresses that are hidden from the block chain for increased privacy.
Highlighted Core Features
- ASIC Resistant.
- Fast Transaction Speed.
- New algorithm Tribus.
- Encrypted Messaging.
- Stealth Addresses.
- DNR Mining can only be done with GPUs and CPUs
- It is a Limited coin with a maximum supply of 10 million
Denarius allows ease of integration with previous open source technologies. It is a secure and stable Cryptocurrency based off the original Bitcoin Core by Satoshi Nakamoto. It utilizes bitcoins block chain network which is very safe to transact and hold. This allows ease of integration with existing open source technologies.
Fast transaction speed
Denarius is a very fast cryptocurrency built for the 21st Century. It is characterized by 30 second block times and 10 confirmations. It takes only 5 minute for a transaction to be fully confirmed.
Denarius focuses on the Proof of Work(PoW) and Proof of Stake consensus mechanism to facilitate security and process the network. Tribus is the hashing algorithm used for PoW that is Application-specific integrated circuit(ASIC) resistant. This makes DNR very reliable.
Denarius easily sends DNR via stealth addresses for classified and secure transactions unlike Pinkcoin
You can easily send secured messages hence they are encrypted. These messages can be sent via the Denarius network to and from public address. Stealth addresses can also be used to send or receive encrypted messages.
Multi-Signature Addresses & Transactions
Denarius supports Multi-signature addresses. This means that it requires another user or users to sign a transaction before it can be broadcast onto the block chain. Multi-signature in DNR allows the creation of “2-of-3” escrow services.
In order to get Denarius (DNR) you need to have a wallet. A wallet is a digital place where you store your DNR. Check down for types of wallets. To obtain DNR, follow the simple procedures outlined below. This will help you send and receive denarius coins from other users of this wallet. it will also help you buy from exchanges that deals on DNR.
How to invest in Denarius (DNR).
Step 1: Buy Bitcoin (BTC)
Step 2: Open an account with an exchange that trades Denarius
Now that you have some Bitcoin, you need a place to trade it for DNR.
Step 3: Get your Bitcoin address
After opening an account at one of the exchanges above, obtain your BTC wallet address.The details for obtaining a wallet address vary from exchange to exchange. it is usually relatively straightforward. Ensure to get your “deposit” or “receiver” address.
Step 4: Send Bitcoin to your new wallet address. Send Bitcoin from your Coinbase account (or any other account/wallet funded with BTC) to your receiver BTC address.
Step 5: Trade BTC for DNR
After you receive the BTC in your “secondary” exchange account (it usually takes a few minutes). you can trade it for DNR within the exchange. The details for trading currencies vary depending on the exchange. Generally, you will look for the DNR/BTC trading pair and buy or “place an order” to buy DNR with your BTC balance.
Finally you are free to sell your DNR when it appreciates by converting it back to bitcoin. Then sell your bitcoin for fiat currency
WHERE CAN I STORE DENARIUS
You can store DNR on
- DNR paper wallet
- DNR web wallet
- coinomi wallet
- exchanges such as cryptopia, Nova exchange, Stocks exchange, crypto DAO
WHERE CAN I BUY OR SELL DENARIUS
You can simply buy Bitcoin and exchange them for DNR on Bittrex. You can buy or sell DNR on coinsexchange or coincodex.