Aricoin is a digital currency that enables hassle-free, open-ended payments to any internet user without any pre-created account. The platform aims to make cryptocurrency simple for the public. On the Aricoin platform, users can trade, tip, perform payments, and create gift cards.
According to its whitepaper, in the case of digital currency projects, new users are completely overwhelmed with the learning curve and complex technology, therefore resulting in individuals not using cryptocurrency for its intended purpose. Users also find that the cost of entering the crypto market is too high. Thus, Aricoin offers a platform that helps users easily understand the complex digital currency technology. The team intends to reduce the entry cost and simplify technology without focusing on end-users.
Further, Aricoin is the social coin that values the creator's and consumers' Likes' and 'Creative Content.' The platform is designed to map web addresses for people and organizations. Mapping is extracting information from web addresses to improve the users' experience on various websites and platforms. Subsequently, the platform encourages users for public tipping and donations, which are later reflected on their AricoinPay profile. Doing so, helps the platform publicly show the support for projects and the cause they believe in while supporting.
ARI is the native token used to perform social tipping and transactions among the users of the Aricoin ecosystem. The platform aims to use the scrypt mining algorithm rather than SHA-256 to generate blocks quickly and perform target transactions effectively. The scrypt mining algorithm is used in many cryptocurrencies as a Proof-of-Work (PoW) consensus.
