What is Jolofcoin?
Jolofcoin (JOL) is a cryptocurrency built on its own blockchain through a robust Proof of Work consensus.
It is an open source peer to peer digital currency and doesn’t need the Stellar (XLM) network or the Ethereum (ERC-20) platform to exist.
The single currency zone project through Jolofcoin uses a realistic approach based on verifiable data, tangible goals, and visible achievements.
Specific targets are set and they aim to bring stability in the financial ecosystem of West Africa by providing the means of utility of JOL in the digital economy.
Innovation is at the heart of the Jolofcoin ecosystem, hence resources (desktop wallet, web wallet, mobile wallet, blockchain, explorer, mining pool, and source code) have already been made available.
1,340,598,147
The population of Africa in 2020 at the height of the COVID-19 pandemic was 1,340,598,147 according to the United Nations. This number is symbolic and now represents the total supply of Jolofcoin that will ever be created. Jolofcoin gives the opportunity for every African to own a piece of the future. Jolofcoin provides transparency, accountability and minimize corruption in financial transactions in Africa
Name of Coin: Jolofcoin
Symbol of Coin: JOL
Blockchain: Jolofcoin
Consensus: Proof of Work
Network: Jolofcoin
Type of Coin: Cryptocurrency
Public Address: Starts with “J”
Maximum Supply: 1,340,598,147
Mining Rewards: 100
Halving Interval: 2 years
Block Interval: 2 minutes
Pre-Mined Coins: 1%
Algorithm: Scrypt Algorithm
Store Coin
Store your JOLs in a wallet to keep them safely for a short or longer period of time. There are different types of wallets available. You can choose how to store your JOL based on how you're planning to use them.
Send & Receive
This is one of the core building blocks of Jolofcoin. Sending and receiving JOL securely over the internet gives your JOL value. To send and receive, you need a wallet where you will put the public address of the sender and recipient.
Buy & Exchange
On the Jolofcoin platform (www.jolofcoin.io) you can securely buy JOL with FIAT, or exchange it to a popular cryptocurrency (BTC, ETH, DOGE, etc).
In Q3, you can sell and buy JOL on crypto exchanges.
Mining
Jolofcoin mining is the process of creating new JOL by solving extremely complicated math problems that verify transactions in the currency. When a JOL is successfully mined, the miner receives a predetermined amount of Jolofcoin.
Jolofcoin Ecosystem
Video Introduction
Greatest Features
01. Web Wallet
The Jolofcoin web wallet is an online service that can send and store your JOL on your behalf.
The main advantage of the web wallet is that it can be accessed anywhere, from any device, as easily as checking your email.
To make your account more secured, you have the possibility to activate a google authenticator.
In addition to that, we have a CAPTCHA (Completely Automated Public Turing test to tell Computers and Humans Apart) which is a type of security measure known as challenge-response authentication.
02. Desktop Wallet
The Jolofcoin desktop wallet is installed on a desktop or laptop computer and provide the user with complete control over the wallet.
The desktop wallet is considered relatively more secure than the web and mobile wallet. It is however recommended to encrypt your wallet and it backup in case your computer get compromised.
03. Mobile Wallet
The Jolofcoin mobile wallet performs the same functions as a desktop wallet, but on a smartphone or other mobile device.
The mobile wallet facilitates quick payments in physical stores through near field communication (NFC) or by scanning a QR code.
The Jolofcoin mobile wallet is compatible with either iOS or Android.
Mining
There are 2 ways to earn Jolof coin through mining:
01. Join Mining Pool (easier)
Joining a mining pool is the easiest way to start mining Jolofcoin.
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Create an account on EASY MINER
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Follow the all of the steps that will be listed HERE
02. Solo Mining
Solo Mining is for loners and it might be the hardest way to earn Jolofcoin. However, it has it's perks. This is perfect for developers and enthusiasts who are not afraid of a little coding.
After the ICO phase is complete, you can download the Jolofcoin Source Code at GITHUB and get started.
Frequently Asked Question
Who runs Jolofcoin?
Jolofcoin is an open source peer to peer digital currency that is not run or own by any individual, company, or entity.
Jolofcoin operates through a consensus mechanism rather than decisions made by an individual or groups of individuals.
Nobody has special access or the ability to interfere, reverse transactions, or recover sent funds.
Who controls Jolofcoin?
No-one does!
JOL holders and miners are all owners and have equal control over the network; everyone does equally.
New software and upgrades are released by the curator team and developers.
However, the community ( miners, end-users, exchanges) can choose whether or not they want to use it
Why use proof of work?
Proof of work (POW) is the original crypto consensus mechanism, first used by Bitcoin.
POW blockchains are the most secured and verified network by virtual miners around the world.
Proof of work has powerful advantages, it’s a proven, robust way of maintaining a secure decentralized blockchain.
This is very important for the transparency, independence, and decentralization of blockchain.
What is the Utility of JOL?
Jolofcoin has one specific clear and concise goal, to be widely used as an alternative digital currency for West Africa.
For that purpose, the curators and developers are actively working on innovative ways to bring cutting edge technology that millions of Africans can use Jolofcoin for.
How to acquire Jolofcoin?
Earn Jolofcoin through solo or pool mining
As a form of payment for goods or services
Exchange Jolofcoin with someone near you
Purchase Jolofcoin at an available exchange (coming in Q3)
Crypto Currency 101
Jolofcoin (JOL) came from a need to empower the regional financial system through technology and blockchain by putting a particular emphasis on innovation, creativity, transparency, and decentralization. With JOL, power is given back to the people who can make the right choices about their own futures without the interference of government.
Roadmap
Jolofcoin cryptocurrency development
Explorer set up
Web wallet
Desktop wallet
White paper release
ICO sale (canceled by consensus)
Payment integration with Xssil (ride sharing app)
Source Code release
Exchange listing (Tier 3)
Mining Pool/Solo mining set-up
Payment gateway integration
Partnership with startups
Mobile wallet
Exchange listing (Tier 2)
Jolofcoin payment debit card issued
Coin donations to selected charities
Exchange listing (Tier 1)
Further App integration
Phase completed
Phase Starting Mid-October
Phase 90% completed
Technology ready [HOLD]
Phase Pending
Technology ready [HOLD]
Phase pending
Phase Pending 30 % [HOLD]
Phase pending
Curators
The curator team does not control Jolofcoin (JOL). Their sole responsibility is to be curators or custodians of the coin.
They can only develop new software and propose upgrades, however, the community can choose whether or not they want to use it. The community is comprised of miners, end-users, exchanges, payment processors, etc.
JOL holders and miners are all owners and have equal control over the network; everyone does equally.
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