ToaCoin – a hub, similar to the neighborhood coffee shop
ToaCoin is a digital currency that is purely targeted at the travel scene. It's impossible to summarize the overall concept behind this remarkable cryptocurrency in a few brief words. A hub built around the coin enables service providers in the travel industry and customers to find each other.
There are no limits as far as the nature of the journey is concerned, although honeymoons are not necessarily part of the offer. However, travel enthusiasts will find many opportunities for a relaxing, adventure or action holiday on the platform. Long-term solutions are also available for digital nomads and campers.
One of the goals is to establish ToaCoin as a means of payment for travel bookings. This includes hotels, airlines, trains and other types of public transport. Online stores and shops from that industry should also accept the TOA as currency. In this respect, the developers have always been in search of well-known partners to expand their offer globally.
The developers imagine the hub that was created for it to be a little like a popular coffee shop in the neighborhood. All parties share a common platform, but without disturbing each other if they're not interested in the other's offer.
Technical structure of ToaCoin
Overall, there are 8.8 billion coins. And with the developers locked away the 50% of the coins virtually cutting down the coins to 4.4 billion coins. The locked coins were only kept active for staking but no withdrawals were ever made from the locked wallets and they're marked in the block explorer as well for everyone to see if a withdrawal has been made.
Every year, inflation is added, with an increase in the total volume of 2 percent. While the cryptocurrency relies equally on PoW and PoS, this is done using the Scrypt algorithm. As long as PoS is active, users will receive an annual profit distribution of 2 percent.
The fact that the coin acts globally due to the industry, helps translation into many different languages. Numerous users were directly available for this purpose from the thread of the BitcoinTalk forum. The fact that only native speakers are involved means that unfortunate translation errors are avoided from the outset.
No integration into other cryptocurrencies is possible
The blockchain of ToaCoin cannot be combined or extended with others. The reason for this is that this coin has its own blockchain. A transfer without a currency exchange is, therefore, impossible.
Classic mining is not possible
Mining, as it is often known from other cryptocurrencies, is not possible with ToaCoin. Instead, the account balance is enriched either by the annual profit distributions or by staking. The coin is already listed on many platforms, so it can be purchased.
Given the reasons for which this cryptocurrency has been developed, it is only marginally suited to trading. Active trading is not an option, at least not until the in-house booking platform for travel and related services have matured.
TOA can now be traded in 5 exchanges (and growing) so far: Cryptopia, C-Cex, Trade Satoshi, Coins Control, Crypto Bridge and Nova Exchange. The most common exchange currencies are BTC, LTC, DOGE, ETH or US dollars.
The developers of ToaCoin have big plans for their digital currency. While wallets are provided for different operating systems, mobile versions are already being planned. However, travel planning won't be possible through the wallet itself but will be followed by its own applications.
Scam allegations can be immediately ruled out
Allegations that TOA is a cryptocurrency with fraudulent intent emerged soon after its release. However, it has never been listed on sites that specifically list scam services. The developers also rejected all accusations of this nature. In addition, many users have confirmed and reported positive experiences.
The developers have discovered a gap in the market
Platforms and services specializing in the travel industry are steadily available. The general public is also becoming steadily more interested; travel booking, for example, is increasingly done online.
At the same time, life as a digital nomad is becoming more and more attractive, which also benefits the TOA. For this reason, the developers have definitely found a niche for themselves, which they are prepared to fully exploit.
The developers are trying to build an ecosystem where one can use TOA in simple activities so aside from spreading Cafe which accepts TOA and an Online booking platform, they're also involving themselves in creating Freelance, E-Commerce, Remittance platforms while at the same time working on improving their blockchain and wallets focusing on great customer experience.
They believe that real world usage is what will separate TOA from other cryptocurrencies.