A blockchain is a digital technology that records and verifies transactions. It is a key tool behind innovations, especially cryptocurrencies in general, and OneCoin in particular. A blockchain is based on protocols that authenticate, validate and store information in consistent, unbroken sequences that make a system safer by eliminating any attempts of fraud, duplicity and forgery.
A secure tool that creates cost-efficient business networks, OneCoin’s blockchain’s ledger can track and trace anything of value and consists of each transaction ever performed in OneCoin. Because of its centralized system, the OneCoin blockchain does not resemble a public ledger like the blockchains of decentralized cryptocurrencies. The new OneCoin blockchain (October 1, 2016) will instead be unique in its capacity and will process more transactions than major credit card providers. It will run every minute, store users’ KYC documents and set a new standard in the cryptocurrency industry.
Anonymous transactions are not allowed and OneCoin strictly follows anti-money laundering (AML) policies. OneCoin is the first cryptocurrency company to introduced a monthly audit of its blockchain. All OneCoin blockchain audit reports have proven that the OneCoin blockchain is consistent and that the number of mined coins provided to users is genuine.