Rubycoin is digital money used for secure and instant transfer of value anywhere in the world, with no borders or limits. There is no government, company, or bank in charge. Utilizing blockchain technology, Rubycoin are issued and managed without any central authority.
Every user with a Rubycoin wallet plays an important role in processing transactions on the decentralized, peer-to-peer network. Interest is earned by each participant and users stay in full control of their money.
A blockchain is essentially just a record, or ledger — one that’s distributed, or shared between many different parties. The Rubycoin blockchain contains a verifiable record of every transaction ever made. It can only be updated through consensus of a majority of the participants in the system. Once entered, information can never be erased. It creates a true record of events, past and present.
Every user that has Rubycoin is eligible for occasional stake rewards from the network, as compensation for their participation.
Rubycoin is a truly democratic form of money. It represents an alternative way of thinking about saving, economic freedom, and privacy in financial transactions. Anyone can save and exchange value in a completely transparent way — without having to trust each other or any central authority.
Rubycoin must first be purchased on Bittrex using Bitcoin.
The official wallet should also be downloaded. Withdraw Rubycoin from the exchange to your wallet, and keep it running as much as possible. Hover over the lightning bolt in the bottom left corner of the wallet to see your estimated time to stake.
About every minute and a half, a stake reward is given to a non-zero balance wallet connected to the network. Large balances receive more frequent stake rewards, but all active participants earn roughly 5% of their balance per year.
Bitcoin acts as a gateway to Rubycoin, while Rubycoin provides access to staking. Rubycoin and Bitcoin enjoy a mutually beneficial relationship. Move between the two as needed using Bittrex.
Order books are the mechanism used to list the number of Rubycoin being bought and sold at each price point on a cryptocurrency exchange. As people, businesses, and software move the market through buying and selling, a price is naturally agreed upon.
When Rubycoin launched, 1.2 million coins were mined with the purpose of being used towards growth, development, and marketing. The growth fund will help ensure the continued success of Rubycoin, but has not yet been used. It contains the initial 1.2 million and all of its stake rewards: view on block explorer