RUPEE is digital cash, anonymous, instant, and untraceable. It is a lite version of Bitcoin using scrypt as a proof-of-work algorithm. RUPEE enables sending and receiving of digital payments instantly and 100% securely resulting from the use of RUPEE’s peer-to-peer network.
The primary goal of its developers is complete adaptation by the Asian cryptocurrency market, as the developers are Indian citizens. As other currencies, such as Bitcoin, become more investment-driven tools; the rest of the world needs an electronic means of exchange that can, for instance, buy a loaf of bread or split the cost of a pizza delivery with friends.
RUPEE uses a modified version of the original Scrypt Proof of Work mining algorithm. The original Scrypt algorithm was created by Colin Percival, for an online backup service called Tarsnap. The technical definition of the Scrypt algorithm is that it’s a ‘password-based key derivation function’, which means that it derives a secret key from a password.
Percival deliberately designed the algorithm to be computationally intensive to perform, requiring a large amount of memory to perform. The purpose of this was to make brute force attacks more expensive to perform. The idea behind this is that a person who knows their password would be required to pay the computational cost of performing the mathematical operation once, which would be negligible, but a person trying to guess someone’s password would have to pay the computational cost many times, significantly adding to the cost and difficulty for the attacker.
Most cryptocurrencies including RUPEE, Litecoin, Zcash, and many others chose to use Scrypt as a direct response to the increasing dominance of ASIC computers in Bitcoin mining. Bitcoin mining ASICs were designed specifically to perform the SHA-256 calculations required, and are able to comprehensively out-compete general purpose personal computers. To stand a chance of actually mining the reward you need to buy some very large pieces of equipment which can cost at the top end $10,000 dollars. This has meant Companies backed by investors are gradually taking a large market share of the network hashing power.
To some people this has meant Bitcoin has lost some of its distributed charm, as it’s no longer run by individuals throughout the world on their personal computers. This is where RUPEE, Litecoin and other Scrypt coins came to the fore where it was thought that there was no possibility of allowing large mining corporations to usurp network power.
Implementation of the Scrypt algorithm makes their mining more accessible and more decentralized because they are ‘ASIC-resistant’. Because Scrypt is ‘memory hard’, meaning it has high memory requirements, it is more suited to a general purpose processor and for this reason it was chosen for use by RUPEE.
Scrypt mining can be performed on a personal computer’s CPU, but can be performed even more effectively on a Graphics Processing Unit or GPU. As a result of this much of the early Scrypt mining in other cryptocurrencies using Scrypt such as Litecoin was performed using graphics cards designed for gaming computers. Today, ASICs are available for Scrypt mining.
RUPEE users currently have the option of creating a paper wallet that is around the same size and layout as many world currencies. Here is some background information to help you understand why this is important: Crypto wallets consist of two ‘keys’. The one you’ll already likely be familiar with is the public key, which is your wallet address and is how other people send Crypto to you. The other part of your wallet is the private key. It is this that enables you to send Crypto to other people. The combination of the recipient’s public key and your private key is what makes a cryptocurrency transaction possible.
It is important to understand that, if anyone else obtains the private key of your wallet, they can withdraw your funds – this is why it’s absolutely essential that nobody else discovers it. So, if you keep your coins in either an online wallet, or a hard-drive-based software wallet, you are vulnerable to attacks by hackers or malware that can log your keystrokes. Furthermore, a stolen PC or a hard-drive crash could also see you waving bye-bye to your digital treasure.
Used with care, a paper wallet can protect you from these possibilities. A paper wallet is a document that contains copies of the public and private keys that make up a wallet. Often it will have QR codes, so that you can quickly scan them and add the keys into a software wallet to make a transaction.
The benefit of a paper wallet is that the keys are not stored digitally anywhere, and are therefore not subject to cyber-attacks or hardware failures. The disadvantage of a paper wallet is that paper and ink can degrade, and paper is relatively fragile – it’s definitely worth keeping well away from fire and water for obvious reasons.
Furthermore, if you lose a paper wallet, you’ll never be able to access the RUPEEs sent to its address.
RUPEE Virtual debit card.
Eventually, users of RUPEE will be able to order RUPEE payment cards, which instantly convert the RUPEE to the local currency on-the-fly at the highest market value, allowing the user to pay with RUPEE the same way he/she pays with current debit card offerings.
RUPEE (RUP) Coin.
Coin Type: PoW.
Block Reward: 50 coins.
Block Halving: 210,000 Blocks.
Coinbase maturity: 10 Blocks.
Target spacing: 5 min.
Target timespan: 10 min.
TXT confirmation: 6 Blocks.
Current coın Value: $0.005569.
Market Cap: $121,874.
24hr volume: $934.
Cırculatıng Supply: 21,885,250 RUP.
Total coin supply: 42,000,000 RUP.
(As of 8/24/2017)
Mining pool Stations.
If you want to generate RUPEE on a mining pool, you need a RUPEE wallet address (You can get one from CointoPay.com) and a mining pool station that provides mining service where anyone can generate RUPEE.
Is RUPEE a viable investment?
It is a stable, long-term investment opportunity for those outside of the intended physical market, as current developments in the project as well as entry into the US market have caused the value of the coin to rise by as much as 800 times (80000%) its initial market value since 07/01/2017, before finally market-correcting down to 375x the initial value, or in other terms, being worth just under $.01 US cent per RUPEE. The estimate is that, by September 30, 2017, the RUPEE will see an increase of value to the point where a single unit will be worth approximately $1.08 each.
MADRAS Partnership negotiation.
Driving this explosion of RUPEE’s value will be the newly announced partnership negotiations between RUPEE developers and the revolutionary MADRAS dispute resolution service. This is a revolutionary system that will allow users to settle disputes according to the rule of moral law and bylaws established by MADRAS without governmental intervention. This protects users from the government’s intrusion into this last great innovative store of value, created by the common man to empower the masses against the super-wealthy.
The last time that governmental bodies in the United States took over control of all physical stores of value was when President Roosevelt decreed it illegal for average citizens to own gold, and instead, said citizens were required to turn their physical stores of value over to the federal government under threat of imprisonment. Indeed, the federal government literally raped the American people and robbed them blind under duress.
Rest assured, if the federal government begins to pass legislation to regulate cryptocurrencies such as Bitcoin, RUPEE and the rest, it will not be long before all of the value and wealth created by their users will be sucked dry by those who are in control of those who publicly rule over us. MADRAS is the beginning of the solution.
The MADRAS brainchild has expressed interest in pegging MADRAS to the RUPEE for a period of 6 months, during the initial growth phase. One can only hope that the outcome of these negotiations will breed positive results. The MADRAS partnership would also be a huge step for the RUPEE Digital team in realizing their mission of creating a cryptocurrency that everyone in the Asian market will eventually be able to seamlessly use in the same manner as they do cash. The integrity that the MADRAS partnership will bestow upon RUPEE would definitely boost confidence in using a digital instant store of value in place of paper cash.
RUPEE developers are looking for investors at the moment, as an upgrade of their systems is necessary with the expanding growth of the project. If you are looking to get in on a solid investment, there is still a little bit of time left. The first growth phase saw direct negotiation with many global corporations and contracts signed with multiple US retailers for direct acceptance of RUPEE for purchases of goods. There was no public campaign whatsoever, yet RUPEE still multiplied in value 375 times.
Just imagine what the next phase, with a global ad campaign and RUPEE payment cards, combined with the power of the MADRAS partnership, will do for the intrinsic value of RUPEE as an investment.