New Virtual Currency: Breakout Coin

Still recovering from the trauma associated with learning the in’s and out’s out bitcoin, the blockchain and all that other jargon? Did you realize that it’s not the only cryptocurrency available? Oh yes, there are more where that came from, but don’t panic, we’re going to lay out all the details for you right here. Just think, if you’ve already got the hang of bitcoin, you’re one step ahead of the game.

What is Breakout Coin

Breakout Coin (BRK) is a new digital money option meant for making purchases in online gambling company Breakout Gaming’s store. Just like bitcoin, BRK uses a payment system that cuts out the middle men such as banks and governments. In fact, if you have the know-how and the desire, you could audit any transaction at any time. The information is public and there for your inquisitive minds to view.

This type of currency is available immediately and may be used to make deposits to play a variety of online games such as casino, poker and lotto. Beyond the gambling sector, you can use it to purchase gaming titles from 505 Games, Bethesda, Funcom, Sega and Trion.

Just like any other currency exchange, you may use your local currency to buy BRK.

Getting BRK Off the Ground

It’s traded on the open market in limited supply at the moment but more people using it, will mean higher values. For this reason, Breakout Gaming has jumped in to get things moving along more swiftly. To promote BRK, the gaming company has accepted a loan of 7,000,000 BRK to be paid back with interest over the course of 35 months.

Each of the payments are to be held in blockchain escrow with the help of a deferred availability function known as CHECKLOCKTIMEVERIFY. No portion of the loan will be available for trade until the load is completely paid back in full. Once complete, the 7,000,000 BRK will then be available for new loans to help encourage the adoption of the currency.

The current value isn’t worth much at all right now. For example, 100 Breakout Coins is worth 2.38 USD. It’s got to start somewhere, right?

According to the official website, “This system establishes a highly controlled pool of funds that can be used in perpetuity to promote Breakout Coin by essentially providing low-interest marketing funds to businesses. The marketing escrow and repayment conditions ensure that the BRK supply in circulation is stable and virtually eliminates sell pressure related to promotional giveaways.”

“Alongside Breakout Coin is another currency called Breakout Stake (BRX). Breakout Stake owners have the right to validate blocks of Breakout Chain ledger entries. For each block, the validator is permitted to claim a reward for performing the validation.”

How BRK Works

If you’re looking to get your virtual hands on some BRK, visit BreakoutPvP.com to buy it using a credit card. Once complete, the value will be held in the BRK wallet app where you will have the option to play games via Breakout Gaming sites to collect more BRK or visit Bittrrex.com to trade it in for another currency.

In summary, BKR is a real virtual currency that may be exchanged for another. In terms of buying power, it seems that we are limited to game play via Breakout Gaming websites.

Is this something you’d be interested to try? Give us your thoughts.

Source:

‘Cryptocurrency – Introduction to Breakout Coin (BRK)’, breakoutgaming.com