TWNKLCHAIN – A New Dimension of Blockchain
BENEFITS OF THE TWNKLCHAIN
TwnklChain has all the security features of modern blockchain technology. It is impossible to manipulate transactions, and it is impossible to create additional coins, once a currency is created.
A big drawback of public blockchains is that everybody can see every detail of every transaction as well as every balance of every wallet. It is like posting your bank statements on Facebook. With TwnklChain, nobody but you can see your balances, and nobody can retrieve any personal data from transactions.
Nevertheless, TwnklChain is fully transparent. Every interested person can check at any time the total supply of coins as well as the ledger of all transactions. For each transaction, there will be the transaction ID, the hash, the timestamp, the amount, the value, and the status displayed.
Public blockchains suffer from very long transaction times, literally making instant payments impossible. With TwnklChain we are set up for processing thousands of payments per second, which adds up to more than 100 million transactions per day.
Especially in busy times, not only transaction times, but transaction fees explode on public blockchains. How does it make sense to pay $50 fee to pay for a $5 coffee? With TwnklChain, there is a fair and low fee for transactions: 0.1% per transaction with a minimum fee of 0.001 TWNKL and a maximum fee of 1,000 TWNKL. Paying $5 for a coffee with TWNKL is a tiny fee of a half (0.5) U.S. Cent in value.
The TwnklChain is legal in every aspect, and it is prepared for the future. For example, Governments might establish a transaction tax or other forms of fees. On top of that, we already fulfill all requirements for being an official substitute currency for Euros. Every currency holder needs to go through an identification process, which is a nightmare for all the bad guys, because they love the anonymity of public blockchains.
Making payments with TwnklChain is convenient and easy. The PerNumPay App just needs the amount and the PerNums of sender and receiver, all secured by your random One-time PIN. Our payments are faster than any other form of payment with comparable security features.
Another huge drawback of other cryptocurrencies is the high volatility. Thus, it is hard for merchants to accept payments in virtual currencies because they never know what the value will be tomorrow. This is due to another big challenge for most cryptocurrencies: instead of being used as a form of payment, their main purpose is being traded. Most people holding virtual currencies hold them as an investment. Unfortunately, trading is not creating any value, and the inner value of most cryptos is zero. So, even for Bitcoin this means that without demand the value must drop to zero one day if no ‘real’ demand is created. Because of this risk, and because of manipulations, we can see a high volatility. The more a virtual currency is traded, the more volatility you will see.