AAA Coin is a speculative PoW/PoS altcoin with CPU mining capabilities and PoS minting at a rate of 100% per year on staked coins. Find out how it works today in our review.
What Is AAA Coin?
AAA Coin is designed as a profitable blockchain-based currency. The currency is preparing for its ICO, with 100% of the profits from the ICO going towards the elimination of terminal diseases.
The coin itself is a speculative PoW/PoS altcoin with CPU mining capabilities. The coin offers PoS minting at a rate of 100% per year on staked coins.
The ICO for AAA Coin began on October 10, 2017. It lasts for 90 days.
Ultimately, AAA Coin is a unique cryptocurrency. The developer of the coin admits that it’s designed specifically to make money. Here’s how the first page of the whitepaper explains everything:
“Most altcoins of today are missing a purpose. Disruption and greed seem to be the leading motifs. AAA COIN is purposefully designed to be different. Whilst satisfying the human desire for greed, it also serves a purpose of making men better. AAA COIN is a speculative blockchain-based cryptocurrency altcoin with the short-term goal of making men rich and long-term goal of making them better.”
Some cryptocurrencies are introduced to compete with credit card payments. Others are introduced as investments. AAA Coin seems to be specifically designed as a money making tool that promises to double your money every year.
It’s a bit like a pyramid scheme, because the earlier you buy into it, the more money you can make.
Obviously, if you’re buying into the cryptocurrency through an ICO, then the company is going to have real assets and real money to spend. The company claims that it’s spending its money on “strategic global initiatives to prevent disease and extend human life.”
How Does AAA Coin Work?
AAA Coin lets you make money by mining the coin for a 99 coin block reward. Then, you mint new coins just by holding them in your wallet, in which case you receive a return of about 0.3% per day (about 100% annual returns).
What’s the point of a coin that just makes more copies of itself? As mentioned above, the point of the coin is to make money. Here’s how the whitepaper explains the moneymaking process:
“Making men rich is accomplished through easier than Bitcoin mining and 100% annual interest (~0.3% daily) on existing AAA COIN holdings, effectively doubling your money every year. In addition to the 100% annual interest (~0.3% daily) through Proof of Stake (PoS), the market price increase of the AAA COIN is designed into itscreation through limited supply of coins that could be mined through Proof of Work (PoW).”
Meanwhile, the money from the ICO will go towards good causes. The company claims they’ll spend it on strategic global initiatives to prevent disease and extend human life. Just like we’ve made disease-resistant plants, AAA Coin envisions a future with disease-resistant humans. Neither the whitepaper nor the website mention any specific causes or organizations.
AAA Coin Features
- Scrypt algorithm
- PoW block reward of 99 coins
- PoW and PoS reward time of 1 hour
- PoS percentage of 100% per year
- Coinbase maturity of 1 block
- 7 block transaction confirmations
- Block age of 10 days
- Total coin supply of 138,600,000
What Problems Does AAA Coin Seek To Solve?
AAA Coin believes that most of today’s altcoins “are missing a purpose.” These tokens are fueled by disruption and greed. Many of these coins disappear after a few months with little contribution to the world.
AAA Coin’s developers also see a problem with the large cap cryptocurrencies like bitcoin and Ethereum. These cryptocurrencies have become excessively difficult to mine over the years. Mining is dominated by mining farms with millions of dollars in infrastructure investments. PoW algorithms are designed in a way that makes it increasingly difficult to mine each consecutive coin.
That’s where AAA Coin sees an opportunity for its unique coin.
The AAA Coin ICO
The AAA Coin ICO began on October 10, 2017. A limited pre-sale took place in the week leading up to the ICO.
The ICO will last 90 days. You can purchase AAA Coin using PayPal, credit cards, and most major cryptocurrencies.
During the first day of the ICO, the tokens are priced at $0.50 USD. During the second day, they’re priced at $1. For every additional day, the price will increase by 1%.
70% of the total supply of coins will be available through the ICO. That means 97,020,000 of the total supply of 138,600,000 is available.
Who’s Behind AAA Coin?
AAA Coin is led by creator and founder Alex Povolotski. Alex is a Toronto-based MBA with experience in the financial industry. He has previously worked at JPMorgan Chase & Co, and he’s listed as the CEO of a Toronto-based payment processing technology company that involves combining IoT data with traditional POS terminals.
No other team members are listed. Povolotski appears to be running the entire project himself.
AAA Coin Conclusion
AAA Coin is a unique project that seeks to create a currency that’s consistently profitable to mine. The price of that currency rises by 1% each day of the ICO. And, by holding a stake in that cryptocurrency, you can double your money every year (PoS).
The currency also promises to use profits for benevolent purposes. The developers vaguely claim they’ll invest profits in curing diseases. However, no specific causes or organizations are mentioned, so it’s not totally clear where the profits are going.
You can learn more about the unique project at AAACoin.us.