Isle of Man, 21 May 2014 - Logos, the new generation currency, launches today with its desktop wallet for Windows, Mac an Linux systems. Unlike cryptocurrencies such as Bitcoin, Logos are not just created through transaction verification (“mining”). Logos are created by businesses, NGOs, universities and communities applying for and receiving funding for development, integration, marketing, environmental and charity projects.
Transaction verification is just one of many parts required to grow a stable and user-friendly cryptocurrency ecosystem that contributes positively to its users and the world. Mining is however the only way coins are created with Bitcoin, Litecoin and other altcoins.
Logos enter circulation into the wider ecosystem of consumers, retailers and investors through seven Logos Funds rather than just the Logos Mining Fund which rewards transaction verification. Users, businesses, charities, universities and local communities can apply for grants on projects that fit the Funds' remits. The creation of the Logos currency isn't just a question of computing power and electricity, it can be achieve by integrating Logos into existing payment and financial platforms, developing services and products for the ecosystem, marketing effort or expanding the number of users and merchants supporting Logos with seed funding.
The Logos Supporting Fund the Logos Environmental Fund serve a greater purpose, allowing charities, NGOs and local community projects to be funded in Logos to help make the world for all just that little bit better.
Miners however have no reason for disappointment, as the per minute mining rewards are very generous and increase on a quarterly basis over the next two years.
The Logos ecosystem growth budget for Q2 2014 is LGS 2.8B ($28M) across the seven Logos Funds.