Nollar (NOS) Stablecoin: Legit 1:1 USD Backed Cryptocurrency?
NOLLAR is a fully redeemable and audited 1:1 USD-backed stable coin that operates on a novel technology to facilitate instant and feeless transactions. NOLLAR believes that cryptocurrencies lack adoption due to fundamental issues and therefore, identifies the following problems:
- Slow transaction times: NOS seeks to increase economic productivity by eliminating waiting times. International wires can take between 2 and 5 days. The team behind NOLLAR affirms that time is money and wasting it is inexcusable.
- High transaction fees: At peak network congestion, a single Bitcoin transaction can cost up to 50 USD. Besides, the remittance industry charges up to 50% for each transfer. NOLLAR seeks to eradicate this industry-wide exploitation by offering free transfers across the world.
- High price volatility: volatility is a major problem that dates back to the early cryptocurrencies. It prevents widespread adoption and damages their reputation. NOLLAR is backed by the USD and therefore, it remains stable.
- Wasteful mining: Energy-inefficient transaction mining is a huge detriment to the crypto industry. NOLLAR utilizes Blocklattice technology instead of blockchain technology to curb this problem.
How Nollar Works
After passing KYC/AML check, customers receive USD bank account details. This enables them to purchase NOLLAR directly.
Redeem NOLLAR directly
Any person who holds NOLLAR can redeem it after passing the KYC/AML checks. It will be wired from a bank account in the United States
Buy NOLLAR with crypto
NOLLAR will be available on crypto exchanges where anyone can buy it at a market price toward crypto pairings. NOLLAR is the first IOU/USD stablecoin based on Nano-technology offering instant, feeless, and green transactions.
The platform believes that cryptocurrencies such as Bitcoin have architectural limitations due to the traditional blockchain, which limits scalability. This leads to slow transaction times, turbulent price volatility, wasteful mining and legal uncertainty.
Most importantly, price volatility breeds distrust and panic. Money, by its widely adopted definition, must be a store of value, a medium of exchange, and a unit of account.
These qualities cannot be fulfilled with huge swings in the price of bitcoin and other altcoins. Nollar seeks to solve these problems by providing price stability, instant, and feeless value transfer. It’s fully asset-backed and audited by PwC.
The developers’ goal is to distribute a feeless and permissionless currency. According to their website, NOLLAR works best if you keep it in your wallet and start paying people with it in your daily life.
NOLLAR welcomes any exchange, merchant, or service to integrate NOLLAR. There’s no permission required. They will actively seek out to exchanges, ICOs, charity organizations, and supermarkets in emerging markets.
Why choose NOLLAR?
The following are the reasons why NOLLAR is recommended:
- Instant transactions: NOLLAR transactions take an average of 2 seconds
- Feeless: the project utilizes delegated Proof of Stake voting instead of fees going to miners.
- Stable, 1:1 redeemable: NOLLAR coins are 1:1 USD-backed by several banking partners in the United States. Besides, it’s audited.
- Green: NOLLAR uses 0.000112 kWh per transaction, which is 8 million times less than what Bitcoin consumes per transaction.
NOLLAR comes with Trust wallet that offers the following:
- High security: NOLLAR is 100% cryptographically secure
- Payments: the platform offers simple management of daily payments
- Full control: users have full control of their wallet seed and private keys, which they must keep safe and secure.
- Back up your seed and phone: NOLLAR highly recommends that users back up, store their seed securely, and backup their phone regularly.