Just for a fun social experiment I am having unbiased individuals write reports on Crown to describe to me how they see it. Here is one of the first reports that came in - just to give everyone an idea of how people view CRW as a project
*Note these are not my own thoughts but rather the thoughts of a friend*
MY UNDERSTANDING ON CROWN
One word comes to my mind when I started exploring CROWN for the first time and that is “Revolution”. This revolution has a capability of changing economies of world on the basis of decentralization. The Power of decision making lies with each and every individual rather than handful of people. I am sick of one day democracy when I cast my vote and on other days I am powerless. I want to breathe democracy on a daily basis which is peer to peer. This desire is a distant dream if we continue to live with traditional approach. The CROWN of Blockchain technology offers us a golden opportunity of life-time which not only changes our lives and outlook, but also traces light on loopholes of Traditional Centralised System which we are forced to adopt due to the lack of any alternatives. Now we have alternatives. Then what are we waiting for?
I am very new to the world of blockchain Technology and knew nothing about it before. I heard about Bitcoin, but didn’t know what it was. In my part of world we are still obsessed with Paytm and never think beyond it. I had a vague idea about Bitcoin that it was a Digital currency. The term ‘Cryptocurrency’ sounds too technical to my ears. To clear my doubts, I started browsing those web pages which give informations on Blockchain Technology and Cryptocurrency. According to Don & Alex Tapscott, Authors of Blockchain Revolution (2016), “The Blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” Blockchain technology is like the internet in that it has a built-in robustness. By storing blocks of information that are identical across its network, the Blockchain cannot be controlled by any single entity and has no single point of failure. Wikipedia describes Cryptocurrency (or crypto currency) as a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets. Cryptography is a set of mathematical equations which are designed to make people get confused when they’re run forward. They only get clear when they’re run backward using special keys.
Crown (CRW) is a digital commodity and application platform for driving technical & financial innovation which uses both Blockchain technology and cryptography. Crown is more advanced than Bitcoin. The Crown project aims to become a global payment, messaging and application platform, enabling developers to build complex new economy applications and offering an efficient low transaction cost platform to store value, register ownership and manage contractual relationships.
Key Facts about CROWN
Launched transparently in mid-2014 as Crowncoin
Powered by 1208 Tron Masternodes
Decentralised
Democratic governance system
API-driven model
Merge mined with BTC
No to anonymity
Crown prime intention is to create a viable application platform for merchants, developers, and communities.
The major differences from Bitcoin are that:
Crown corroborates transactions quickly. Transactions are confirmed within seconds
Consist of additional layer of security created by Tron network Masternodes
Crown is a hybrid system that makes use of a token to run a computer program, which in turn, uses keys to encrypt and decrypt any messages. The computer program also stores data about the tokens in Blockchain- a public database that is shared by various users.
The founders have a significant emotional investment in the project and a strong belief in the future of Blockchain technology which has seen continuous development and Crown coin rebranded to Crown with a new team of developers with a new vision, a global appeal and above all what we think is going to be a market changing product. The change to a new team was gradual and in stages. Some original team members left to work on other projects while others remained to keep the project alive and introduce new features such as Timestamping (an embedded notary function within Crown). As people began to see the new vision for Crown, more and more people have decided to get involved in different capacities. Some original team and community members are renewing their interest in the project after recent progress and
events.
Crown has had a consistent focus on building their Blockchain as a commercial utility. The team has stayed away from the current atmosphere of smoke and mirrors that the ICOs have developed. Anonymous transactions are not regulatory friendly, they enable fraud and crime. Crown believes that Governments should be enabled to participate in further business and Blockchain development. Removing Darksend from Crown coin will aide in the objective of widespread legal compliance. Crown has also hired a high profile law firm which is planning to help the team to comply with all the US and EU regulations so Trons will continue to be a legally safe instrument to build a next generation business. The Crown team are united in the belief that proof of work consensus models are a waste of finite natural resources and that the future of Blockchain and cryptocurrency cannot depend on the use of millions of dollars of electricity every day. This is the main reason that Crown currently uses merge mining to piggyback and make use of already expended resources on the Bitcoin network. Crown is a masternode coin which is a decentralised system of governance and also a way to generate passive income.
