What is Ruby Coin (RBC) & How Does It Work?

Ruby Coin (RBC) is like digital money that isn’t controlled by banks or governments. You can buy, sell, and trade it directly without any middlemen. Samir Keshari, the person who made Ruby Coin, wanted a payment system that relies on proof through cryptography instead of trust.

Unlike regular money from governments, which is called fiat currency, Ruby Coin works on a proof-of-stake network. This means it doesn’t need banks to function.

Every time someone uses Ruby Coin, the details of the transaction are recorded on a public list that anyone can see. This makes it hard to undo or fake transactions. It’s intentional because Ruby Coins don’t depend on a government or any specific institution for support.

How Does Ruby Coin (RBC) Work?

Ruby Coin is a type of digital money with some important features:

Decentralization

Ruby Coin is not controlled by a central authority or government. It operates on a network of computers called nodes.

Blockchain Technology

Transactions made with Ruby Coin are recorded on a public ledger called the Ruby Scan blockchain. This ensures transparency and security.

Limited Supply

There will only be 300 million Ruby Coins. This scarcity is built into the system, similar to precious metals like gold.

Ruby Wallet

You can store Ruby Coins in software-based wallets Ruby Wallet, which can be online, on your computer, or on your phone.

Volatility

The value of Ruby Coin can change a lot, influenced by factors like market demand, regulations, and economic trends.

Global Transactions

You can use Ruby Coin for transactions across borders without using traditional banks.

Pseudonymity

Transactions are recorded on the blockchain, but users are identified by cryptographic addresses, not personal information.

Ruby Coin Use Cases

Ruby Coin is often seen as a way to store value, like “digital gold.” People also use it for online transactions, investments, and protection against inflation.

In summary, Ruby Coin is a new kind of money that’s getting a lot of attention. It’s decentralized and has unique features, raising discussions about the future of money and technology.

History of Ruby Coin (RBC)?

In December 2020, Ruby Coin started with a smart contract. Samir Keshari is the CEO and founder of the Ruby Coin platform. The total number of RBC tokens is 300 million.

Ruby Coin has its special wallet on the internet. This wallet belongs to you. Anyone can keep Ruby Coin in their online wallet or send it to someone else. Every time Ruby Coin is moved around, a record of it is kept on the internet in something called the blockchain. This way, all transactions with Ruby Coin are accurate.

Each Ruby Coin is like its own special type of money.

The first time someone used Ruby Coin was launched on December 29, 2020, at 11:59:59 PM Vietnam time. Since then, people have been using Ruby Coin for transactions non-stop.

How to Buy Ruby Coin?

Once you’ve picked an exchange, you need to add money to your account before you can start investing in Ruby Coin. Make sure your exchange supports Ruby Coin and has a wallet for it. Once your account has money in it, you can place your first order to buy Ruby Coin.

Depending on the platform you use, you might be able to buy it by tapping a button, or you might have to type in Ruby Coin’s symbol (RBC). Then, you’ll need to say how much you want to invest.

If Ruby Coin costs about $12.03 right now, you’d have to invest that amount to buy 1 RBC.