“Honest Scheme” or What PoWHCoin Is
There is a huge number of fraudsters and Ponzi schemes existing in the crypto world one must mind. Curiously enough, there are also reliable schemes which do not keep their operations in dark. PoWHCoin project presents itself as the world’s first autonomous and self-sustained scheme.
Ethereum smart contract technology allows for automatizing various finance and managing companies matters. No wonder, there is someone eager to test the technology and establish a kind of investment program.
To date PoWHCoin is one of the most challenging concepts in this respect. It’s algorithm is based on what is called «Proof of Weak Hands» which makes the name PoWHCoin. Instead of using PoS, the project is to distribute funds from token selling to already existing investors. As a result while being among the first investors you’ll get sufficient amount of tokens as profit. It all might resemble Bitconnect much, but people are fully aware of what they go for when using this option.
In addition, business expectations for PoWHCoin are quite low. This is the coin which pumps and resets itself on a regular basis. Smart contract will rise the price for future tokens immediately for each existing token purchased. For each token sold future tokens will sink in price, which is just as intriguing.
To some extent the project is going to reward PoWHCoin owners more than any other currency. For instance, the team expressed confidence, they can protect the users from pump and flush as well as from market manipulation. As more people buy and sell this token from smart contract they produce efficiently more profit for those just holding their coins. Yet it is still to find out whether this is enough for making people investing into another Ponzi scheme.