These are some Common question that are asked as more people are becoming aware of alternative assets such as Pecu Novus, lets go over it in as much of laymans terms that we can.
♦ PECU 101
There are a few ways that you may be starting out:
You can either set up an account on Pecu Novus
Maybe someone you know sent you coins via email so you need to set up an account
Or perhaps you are involved in a business transaction that requires you to have an account
In any of the above you have to set up an account so that you have your digital wallet to hold your PECU, this may be on your computer or mobile phone. In doing this it will automatically generate your first PECU address or public key. These public keys are what is a permanent part of the public ledger, this is why its a good idea to change your public address for each transaction, for security reasons. So as with most wallets, the transfer works as simply as an email would, place the amount that you want to send, the PECU address or email address, you can add a description if you so choose and then just send the coins. Its as simple as that.
♦ The Blockchain
You’ve probably have heard this word several times on the news, newspapers, online etc. In short a blockchain is a public ledger, a true public account of activity, this is the foundation of Pecu Novus. Each and every transaction is included in this public ledger for transparency and security. All transactions are permanent within the blockchain and can never be altered, as they are completed they form a chronological order of transactions enforced by cryptography. The digital wallet which holds your PECU calculates your balances as you use it and as the price adjusts.
♦ Private Keys
When a transaction occurs and PECU are transferred from one holder to another it gets included in the blockchain. PECU is held in a digital wallet that holds a private key, this key is considered your digital signature and produces a public key that is seen on the blockchain/public ledger. The private key is never shared with anyone but the holder, this is for security reasons and ensures that ONLY the owner of that digital wallet is performing the transaction. The use of SHA512 or Secure Hash Algorithm 512-bit ensures a heavy dose of cryptography into each transaction, this was originally developed by the NSA, sometimes referred to as Military Grade or Bank Level Security.
♦ Dual and Triple Confirmations
This is pretty simple, when a PECU holder sends coins to the receiver both parties must confirm the transaction. First the sender confirms upon sending and the receiver confirms upon acceptance of the coins. The transaction can hold a time limit on it at the request of the sender and the sender or receiver can request to have a “Transactional Witness” to sign off on the final transaction. This is an option that provides transparency and irrefutable proof of that transaction. This works well with businesses that are making large transactions, import/export companies waiting on the delivery of goods, for service related transactions and for individuals purchasing goods or services.