Chrysos, a Unique Block Chain Based Lending Platform

January 10, 2018 by Cameron Bishop

Distributed Ledger or block chain technology is arguably the most disruptive technology seen so far in this century. The technology, which enables a secure peer to peer data transactions, without revealing the peer’s identity to the public ledger has opened the doors for new technological innovations.

Numerous ICOs are coming up every month. However, only a few of the crypto tokens are unique and add value to a business. Chrysos, which will soon hit the market, is one among them. It is based on a hybrid algorithm of proof-of-work (PoW) and proof-of-stake (PoS) for network security.

Chrysos token is used to operate the one of a kind lending platform. In traditional lending platforms investors will lend crypto currency in the value of the US dollar and get their investment back in crypto currency, but calculated using the US dollar as a reference. In case of Chrysos platform, the entire lending happens with the number of CHR tokens as the reference. For example, let us assume that CHR coins are trading at $10 and you are lending $500 or 50 CHR tokens through Chrysos platform.

At the time of maturity, you will be paid back 50 CHR tokens. So, if the value of CHR token is $50 at that time, then the value of your holdings will be $2,500. To put it simpler, the investor will always get back 100% of his assets at the time of maturity.

Coin lending schemes for various periods will be offered and the dividend will be paid on a daily basis. The principal will be returned back at the end of the tenure. Soon, the developers are also planning to launch a gambling-on chain project.

The developers are planning to launch the lending platform on January 27, 2018. Using CHR coins, anyone can subscribe to the lending program. The platform will have its own internal exchange for buying and selling CHR coins. The coins will be initially listed on HitBTC and Yobit.

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Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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