Today we are going to review a new cryptocurrency which appeared on the market called Reference Line Coin.
What Is Reference Line Coin?
Reference Line Coin wants to create a cryptocurrency which emulates the bank’s reference lines. This will be useful for people who want to use cryptocurrencies instead of fiat currency (for many reasons like the fact they pay fewer fees) but miss this feature from bank transactions.
If a user wants to, it can leave the reference line in blank, which is coherent with the cryptocurrency market’s policy to let the users be unknown if they want to.
This company was created by Christian Kassler, Stephan Kassler and Ludwig Kassler, which are, respectively, brothers and their father. The has founded the CAD-KAS Kassler Software company in 1993 and have been in the technology business so far.
How Reference Line Coin Crypto Software Development Works
Basically, Reference Line Coin will use the Bitcoin’s source code (which is open source) and modify it to allow the introduction of the reference line’s system. The source code will be downloaded from GitHub and modified.
The company is also going to change the structure of how the transactions work as well. They will take the Bitcoin script as a base and modify to change how the transactions are assembled to include the reference line. The company states that it is a very simple process. The company will also change some of the wallet scripts for the wallets to understand that this is not Bitcoin.
The reference lines will be encrypted, so the team will have to add longer public and private keys for the cryptocurrency, which will make their addresses longer.
The company understands that the Bitcoin original creators did not intend for the utilization of reference lines, so every new transaction has to use a new address. Because of this, deeper chances have to be made in the code lines so you will be able to know where the money comes from.
This will be the backbone of a whole new blockchain tech which will be able to run on its own full nodes and to have its own cryptocurrency mining.
The company intends to apply to the listing of cryptocurrency exchanges as soon as the Initial Coin Offering (ICO) is finished in April and to elevate the price of the token to $50 USD until December.
How To Invest In Reference Line Coin?
If you want to invest in Reference Line Coin, you can participate in the Initial Coin Offering (ICO) created by this company to raise the funds to develop this new cryptocurrency. The company has created ERC20 tokens on the Ethereum blockchain to be used in the ICO. You will buy them via smart contracts and then these tokens will be replaced by the actual cryptocurrency when it is finally launched.
With 1 ETH, you will be able to get 10,000 tokens. The price of the ETH varies a lot, but the company states that their goal was to charge about $0.10 USD per token. The company will 90% of its stock of coins, 9,000,000 tokens. The max supply, which will be reached via mining, will be 27,000,000 tokens.
The company is very sincere when it states that this is a very risky investment and that they do not guarantee that they will be able to create this token. You can transfer ETH via MyEtherWallet to buy your tokens.
Reference Line Coin Verdict
It is somewhat hard to be completely sure is the Reference Line Coin is a bad investment or not. The company states that it is a risky investment and it is a very small company, so you have to understand that there is a risk involved in investing, but at least the company seems legitimate and sincere, which is actually a very positive point if you stop to think about it for a second.
We would say that the major downside is that the idea of this product just doesn’t sound too popular. Not much people would use a cryptocurrency specifically because they can use reference lines. This is really not a very popular selling point. This might be a major factor in the funding of this new cryptocurrency that might make you have to think twice before you actually acquire it in the ICO.
The choice is up to you but we do not vouch for the Reference Line Coin. There are certainly better options for you if you want to use a good cryptocurrency and there are certainly better cryptocurrencies which can grant you a better return on investment too. If you really want to, you can invest in the Reference Line Coin, but know that we have many other excellent choices for you on our blog.