Advertisements are cluttered all around the internet today and are ruining the user experience. Content providers and website owners are forced to clutter them all around their content in an attempt to monetise. An innovative new cryptocurrency project, Purk, has an interesting solution to this project and is based on technology which has been successfully implemented in the past. It is looking like this technology is set to reshape the way users experience content and provide a more valuable and focussed experience.
Purk is a cryptocurrency which enables users to accept completely private and untraceable donations. Many believe cryptocurrencies are anonymous and private, but they are better described as pseudo-anonymous. There is a whole collection of companies whose sole focus is to link identities to cryptocurrency wallet addresses. Purk is built on cryptonote technology, making it completely private, untraceable, and providing anonymity to both business and user.
Many of the most successful privacy enabling coins have been based on cryptonote technology including Boolberry, Bytecoin, and Monero. Purk is a fork from Boolberry, one of the first coins to successfully implement cryptonote technology.
Purk has fast block times at 90 seconds per block, and equal mining opportunities with a mining algorithm focused on a fair and equal distribution between cpu and gpu miners. This distribution is ensured by the mining algorithm Wild Keccak.
Purk is designed in a way which is fair for users and miners. There was no ICO, pre-mine, or insta-mine. With many of these mechanisms used enrich the founders and take away from users, it is refreshing to see a project that has went with a fairer initial distribution. The Purk team operate solely from donations and 1% of the block reward is put towards future development projects.
Who are the Purk Stakeholders?
Content creators or website owners. Content creators and website owners are using Purk to get rid of the advertisement clutter and provide their users and customers with a more focussed and aesthetically pleasing experience. Users are achieving more value through this approach and in most cases, the donations being received are actually greater than the advertisement revenue. The button reduces the need for intrusive adverts, affiliate links, pop ups, sponsored posts so that content creators and website owners can focus on what they do best which is providing value.
Mining operations. Mining has become extremely competitive in most cryptocurrencies. Asics dominate many coins and to mine from a cpu will typically involve a lot of damage to your computer. Purk uses the mining algorithm Wild Keccak which focuses on providing a fair distribution between cpu’s, gpu’s and asics. This provides early practitioners with the perfect way of learning how mining works, with even cpu mining being possible. 99% of the block rewards go to miners with the other 1% going towards further developing Purk.
Privacy. Privacy is becoming increasingly important in today’s world. Many of us give up all of our data to the centralized tech giants of the world such as Google, IBM, Facebook, Alibaba, and Microsoft. They control this data, and this means they can also access it. If you believe you are using these products for free, think again. It is great when you see a cryptocurrency which values privacy as it is difficult feature to achieve in the modern world. Since its development, cryptonote technology has been the gold standard for privacy-oriented coins. Transactions remain private via ring signatures which obfuscate the amounts and make the transactions untraceable and in no way linked to your identity.
Security. Purk utilises advanced cryptography to make sure that users of the coin are both secure and are in complete control of their accounts and money. The blockchain utilises a proof-of-work consensus mechanism which is widely believed to be the most secure for blockchain technology. The network is run by a collection of nodes that validate every transaction and maintain the ledger.
Those who love the concept. Many of you reading will be cryptocurrency enthusiasts who believe in the power of using decentralized technology to improve the business experience from both the provider and the consumers point of view. The advertisement model ruling the internet at the moment is flawed and focuses on invading consumers privacy to ambush them with targeted advertisements repeatedly. The project is open-source and developers are actively contributing to advance Purk.Content creators have already begun to install the button on their websites and with many reporting a positive experience, more content creators are likely to follow and adopt the Purk button.
What does the future look like for Purk?
The Purk donation button has already been successfully developed and implemented but going forward, the team look to further innovate and provide further value to both creators and end users.
Purk plan to be the payment method for goods and services online. A straightforward plugin is being developed that will be intuitive for both merchants and content creators to adopt. Businesses and users shouldn’t be forced to use centralized payment processors where all their privacy has to be handed over. Privacy should be an option and the Purk features are giving this option.
Communication is an important part of payment. Purk see this and are developing an encrypted messaging platform where you can message securely and privately.
It won’t just be the Purk team deciding on development updates. Purk are also developing a decentralized process whereby all stakeholders can vote on development proposals and have a significant say in what is next for the project.
Picking Purk & Picking Privacy:
Purk is active on social media platforms so if it is applicable to you, you can keep up to date via social media. The project is already being adopted so it will be interesting to see how the future unfolds with more valuable features being developed. Any content creators and website owners can already easily set up the Purk donation button and the new features look set to provide a lot of additional value. Users can donate to speed up the development of these.
With recent scandals in the media surrounding personal data handling by big corporations, it looks like privacy is going to become a bigger and bigger issue. Coins which put a preference on privacy are setting up for a big future and Purk are taking every measure to use the right technologies to treat their users in a fair way while respecting their privacy.