A Hong Kong-based company is preparing to release an innovative encryption currency that can be used offline as well as online. PEPS Technology, which is based in Wanchai, Hongkong, is developing its new encryption currency, called PEPScoin, in Japan.
PEPScoin's vision is to function as a real money, not merely as a virtual currency that is only used online. It seeks to become a future alternative currency through continuous development and management.
The company says customers can use PEPScoin at various service facilities by using PEPScard, which can save coins and points. PEPScard will make PEPScoin usable for all types of online and offline payment systems, including online shopping malls, game sites, POS systems of general stores and IOT platform interlink.
PEPScard affiliates can host a large number of customers through interlocking with the PEPS Payment Gate (PG) system.
PEPS platform's database is currently capable of processing 30,000 cases per second and the company is speeding up the development of networks to handle 100,000 cases per second.
The company encrypts all data to prevent hacking incidents, which occur frequently these days, and uses a certified system using 128-bit SSL authentication system and a firewall to defend against external attacks such as DDos.
And the company also stresses that its development headquarters hold stable assets and uses corporate assets to guarantee payments to coin, thereby maintaining the basic value of coin.
PEPScoin adopted the Lyra2RE algorithm and CPU / GPU mining to help prevent coin concentration at a large mining service company running ASIC and enable everyone to participate in mining.
In an interview with the headquarters, a PEPScoin official said, "Bitcoin is opaque in its development subject, and it's mostly online for investment purposes only, but PEPScoin we have developed will be able to use blockchain technology to pay for a variety of derivatives and live transactions.”
The PEPScoin successfully completed its first ICO last month, and the second ICO is currently in progress until the end of June.