Also available in: Indonesian
Zippcoin is invite-only for two reasons: rewarding zippcoin users and increasing trust.
Rewarding All Users
Virtual currencies are all created with two steps. First, currency founders decide on a core concept. Second, the founders launch and market the coin. However, marketing can only take a currency so far, and the success of any coin depends on a third step:
ultimately, the success of any coin depends on the coin’s own users introducing the coin to others.
By being invite-only, zippcoin is the first virtual currency where any user who lets another know about the coin may be specifically rewarded for this word of mouth process.
This is because with zippcoin, whenever you invite someone who joins (and who properly validates their account with either Facebook or Twitter), both of you receive coin worth the equivalent of one month’s allowance.
All currencies are ultimately based on trust.
If you’ve been invited to join zippcoin, you know at least one person in the system. Furthermore, you also know that everyone in the system was invited by someone – and that every invite chain leads all the way back to the founders.
Speaking of trust, since zippcoin accounts are transparent, you can search the system for others, either by specific name or by other available transparency tools. For example, you can see a world map of the most recent 50 people to join.
Zippcoin Is As Different As We Can Make It
If you’ve read any of our previous blogs, you’ve already seen that zippcoin is as different as possible from other virtual currencies:
- zippcoin is a virtual currency, but it is not block-chain based (i.e. zippcoin is not technically a cryptocurrency)
- zippcoin has replaced mining with a simple weekly allowance for all account holders (easier for everyone, much more fair)
- zippcoin accounts are transparent (there are no account secrets possible in the zippcoin system)
You can read more about these differences and their advantages here.
Who would you like to invite to zippcoin?