As more people are becoming aware of alternative assets such as Pecu Novus the need for information is so important, so lets tackle some points so that we can give more clarity.
There are a few ways that you may be starting out:
- You simply set up a digital wallet on Pecu Novus to store your PECU coins
- Maybe someone you know wants to send you coins so you need to set up your Pecu Novus digital wallet
- Or perhaps you are involved in a business transaction that requires you to have a Pecu Novus digital wallet
In any of the above you have to set up a digital wallet on the Pecu Novus network so that you can hold PECU coins, this may be done 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 after each transaction, for security reasons. So as with most wallets, the transfer works as simply as an email would, in the Send Coins area place the amount that you want to send, paste the PECU address in the appropriate slot, in the Note section you can add a description if you so choose, which will become a permanent part of the transaction on the Blockchain and then just press SEND and the PECU coins will arrive to the receiver within seconds. Its as simple as that.
Dual and Triple Confirmations
This is pretty simple, when a PECU holder sends PECU coins to the receiver both parties must confirm the transaction. First the sender confirms upon sending and the receiver confirms upon acceptance of the PECU coins, its pretty simple and quick. The sender can send PECU coins free and clear or they can be held in escrow on the Pecu Novus Escrow System which hold a time limit on it at the request of the sender. The sender or receiver have the option to 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 is specifically designed for 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.
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 Pecu Novus digital wallet which holds your PECU coins calculates your balances as you use it and as the price adjusts. You have the ability to print an account statement of your Pecu Novus account for your records whenever you need one.
When a transaction occurs and PECU coins are transferred from one holder to another it gets included in the blockchain. PECU coins are held in the Pecu Novus 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.