Glenn bolger bitcoin

Worldfree’s FreeMark is a new cryptocurrency to be introduced in 2018 that will eventually have 100% backing, automatically pegged by the Atomic Central Bank ® to a basket of 20 commodities. It can be immediately converted into most other currencies or used to purchase goods and services on the Worldfree Network. Holding it should deliver an increase in ownership on an average balance, correlated to the positive growth of the money supply. Thus it works contrary to normal fiat currencies, where increases in money supply reduce value; with the FreeMark they receive more of them at the same value. Existing cryptocurrencies are often unstable over short periods, massively inflationary or deflationary. Worldfree also introduces Nodechain technology, which is different than a blockchain because it does not store transactions system-wide. It operates in a massively parallel architecture, and data file sizes per node are anticipated at less than 1Mb, with a 50X redundancy factor, irrespective of the network’s size. Transactions on the Nodechain network can be processed predominantly on the participating parties’ systems, with an effectively randomly-selected node updating the coin ownership, accessed through a function of a hash pointer. The patent-pending Nodechain still fulfils the design requirements to eliminate double spending, with greater security and better privacy, overcomes the limitations of the consensus paradigm, and processes transactions in seconds for each participant, irrespective of network size. It is distributed with redundancy, using extent-based parallel access.