What IsPutin Coin (PUT)?

Putin Coin is a fan/meme cryptocurrency created with the aim to support the Russian economy. Meme coins are cryptocurrencies inspired by jokes or memes on the internet. Putin Coin is an open-source not-for-profit project. The team at Putin Coin believes that blockchain technology is an innovative invention, and the platform wants to offer its benefits to the users.

Blockchain technology is used such that transactions may not be faked or overwritten. The Putin Coin platform is decentralized and uses proof-of-work and proof-of-stake consensus mechanisms. Hundreds of nodes are continuously working to validate and maintain the authenticity of transactions.

As per the whitepaper, the main features of the platform are;

• Flexibility – The platform can be utilized by personal or private users, financial organizations to run business financial operations, traders, or social projects. The current infrastructure of the project supports the integration of any kind of wallet, block explorer, or any other additional service.

• Technology – The platform uses both proof-of-stake and proof-of-work consensus. For proof-of-stake validation, the users do not require any expensive hardware, and also it offers a 25% mining yield per year to the validators. The proof-of-work mechanism provides improved rates of security. The encryption process is a means of ensuring that only authorized persons can access the given information.

• Decentralized – There is no central authority that controls the flow of information. Decentralization improves the services offered by the platform, making them easily accessible and efficient. Users can gain direct access to their resources without having a central authority do so.

Putin Coin was mainly developed by the Russian fan community to support the growing economy, and they want to provide for various businesses, traders, private persons, and social and economic projects. The main utility of the platform is that anyone may mine new coins without having the technical know-how of the process and without needing expensive hardware. Users only require Putin Coins in their crypto wallets to hold them and earn staking rewards. PUT is the native token of the Putin Coin platform.

The platform also plans to develop an NFT marketplace of digital collectibles of unique Russian impressions. The maximum supply of PUT is 90 billion tokens.