What Is Rutheneum?
Rutheneum is a community-based, Open Source cryptocurrency that is peer-to-peer and fully decentralized. It is stored electronically on the blockchain, as most cryptocurrencies are, is completely safe, and has good security. Rutheneum can be used like any other cryptocurrency to trade for other cryptocurrencies, FIAT currencies, products, or services.
How Rutheneum E-Payment Cryptocurrency Blockchain Works
Rutheneum uses a hash-based proof of work system that is much like Bitcoins, and it can provide the same benefits in terms of creating verifiable, time-stamped transactions that cannot be reversed or edited after the fact. This allows you to make and accept payments without having to know or trust the person you are trading with, and you will never have to worry about being double-charged. Cryptocurrencies like Rutheneum are popping up all over the place as Bitcoin becomes more and more popular, and most of them have some slight adjustments that make them more useful or interesting to users who have certain needs and see these adjustments as improvements.
Why Use Rutheneum?
The average transaction time for Bitcoin fluctuates heavily, and at the time of writing is currently sitting at 3 hours and 16 minutes. Transaction times have been as long as 24 hours and 12 minutes in the past month. In contrast, the average transaction confirmation time for Rutheneum is only 30 seconds. That’s a pretty big difference when you need your transactions to go through instantly.
The average fee per transaction for Bitcoin is currently equivalent $3 USD at the time of writing. It has been as high as $55 USD in the last month. Alternatively, the transaction fees for Ruthenium are only about 0.0001 Ruts, which is equivalent to 0.0002 pennies. These fees go to the RTH miners who provide the proof of work to make sure every transaction is confirmed securely.
Just like Bitcoin, RTH is fully decentralized. This means that there is no central government or federal bank that is holding the funds or the transaction information. In fact, there is no central organization anywhere holding the ledger, and instead, it is stored and updated directly on the blockchain. This also means that there is no central point responsible for management or able to cause a failure in the blockchain.
The total supply of RTH is capped at 5 billion, and the initial coin offering that is currently live is only offering 3 billion. This means that the value of RTH will go up as demand for the coin begins to outweigh the supply, thus delivering a return to those who invested in the ICO. Because there is a cap on the amount of RTH that will ever be made, you can be confident that your investment will never suffer from inflation.
Cryptocurrency is more secure by nature than other payment options like credit cards. When you pay using a credit card, you have to provide your private payment information to the merchant or individual you are purchasing from. With cryptocurrencies, however, you can seamlessly transact without knowing any other the other parties information or having to trust any third parties to facilitate the transaction. As long as you keep your private key private, RTH is a secure payment method.
No More Middlemen
When you make a transaction using RTH, the only people involved are you and the person you are transacting with. You might also consider the person whose computer is confirming the transaction to also be passively involved, but that is a stretch.
Rutheneum RTH ICO Details
The mission of the Rutheneum community is to make sure every person who wishes to have access to alternative options for transactions is able to achieve that. The barrier to entry for RTH is much lower than Bitcoin, and the fact that the ICO is still active also makes it a possible investment opportunity. They are committed to developing RTH into a technology that is accessible, easy to use, and safe, and simply want to provide payment services that are as convenient as possible and at reasonable prices.
Their goal in the coming years is to provide the many benefits of cryptocurrency to everyday consumers, merchants, and mainstream members of society all over the world in a way that is easy to understand and use.