WRIT Media Group, Inc. has announced several technology innovations within its Pelecoin cryptocurrency system, and plans over the next year to enhance its software platform by adding additional features and by expanding its ecosystem through new products.
During the past several months, WRIT Media’s development team has built the core functionality of its digital currency system, and is now able to offer a new feature which enables users the ability to mine four cryptocurrencies simultaneously by utilizing Pelecoin’s proprietary mining algorithm software.
Pelecoin now provides simple downloadable software that allows for optimal mining by enabling users to mine Ethereum (ETH), Ethereum Classic (ETC), Zcash (ZEC) and Monero (XMR) simultaneously. This scalable system optimizes mining output and revenue by mining a ‘bucket’ of four different cryptocurrencies. By spreading risk over a portfolio of digital currencies, Pelecoin’s proprietary mining algorithm reduces price volatility and generates more coin than single cryptocurrency mining. Additionally users can safely withdraw and send Pelecoin to any external wallet that accepts transfers of ETH, ETC, ZEC and XMR, by using the platform’s automated withdrawal form.
Now that the core system is complete, the foundation is ready for Pelecoin to expand with updated core features and extensive new ones for its ecosystem. A series of new features will be integrated into Pelecoin to enable high volume transactions, security, optimized currency mining and trading, and other business tools which will provide a scalable ecosystem that can handle real-world commercial use.
One aspect that Pelecoin plans to expand is the cryptocurrencies available by expanding its mining platform with up to eight additional cryptocurrencies, including Bitcoin, Litecoin, and hedging instruments which will adapt to the volatility of the marketplace, and further optimize system mining.
The addition of a trading platform will allow users to spread their portfolio across real and crypto currencies via trading, so users will be spreading their risk. Cryptocurrency trading allows for larger blocks of transactions and lower transaction fees, enabling thousands of additional Pelecoin transactions – making the digital currency a good fit for consumer applications.
Mobile app engagement and mobile cryptocurrency wallets will be added so users can store Pelecoin tokens and use them for everyday transactions – which the team holds as an important feature for addressing consumer use of any digital currency asset. Pelecoin’s smart contracts are also going to be developed to run for the price of a normal transaction and will allow for system token offerings. Multi-signature transactions will be developed and implemented, as will anonymous transactions in order to cater for real-world business applications.
Eric Mitchell, WRIT Media Group CEO, commented: “Together, these measures will make Pelecoin a truly unique digital currency and ecosystem. It will be suitable for high frequency currency transactions, with the business logic and security features that are fundamental to the confidence that consumers and mainstream organizations require in a digital currency platform. As a result, Pelecoin will be better positioned for real-world applications.”