Monsoon Blockchain Corporation Unveils New System to Drive Bitcoin Latinum – Crowdfund Insider


Monsoon Blockchain Corporation this week announced a new digital cryptocurrency ecosystem for powering Bitcoin Latinum, an insured, asset-backed cryptocurrency. Monsoon Blockchain develops the Bitcoin Latinum network on behalf of the Bitcoin Latinum Foundation.

Bitcoin Latinum will initially support up to 10,000 transactions per second and millions of transactions per day. Its scalable architecture allows for increases in transaction rates to meet demand. With its proof of stake consensus method, Bitcoin Latinum ensures the network facilitates more transactions per minute at lower transaction fees.

The system also reduces the cost of traditional Bitcoin transactions to cents per transaction, with an average fee per transaction of 10 cents in 2021. This is achieved with a variety of mechanisms including the energy-efficient consensus protocol, approved node configuration, high-performance node interconnection, and shorter confirmation.

Utilizing a consensus mechanism, Monsoon said Bitcoin Latinum provides a much better on-chain payment network compared to Bitcoin, with an average transaction confirmation ranging from three to five seconds. This immediately leads to reduced transaction size and increases the transaction volume capability.

Bitcoin Latinum uses an advanced version of the proof of stake (PoS) mechanism to counter the inherent problems of Proof of Work (PoW) based networks. PoS enables LTNM holders to earn rewards for holding their coins as collateral to stake on the Bitcoin Latinum network. This leads to less electricity consumption. Incumbent tokens such as Bitcoin demand up to 885+ kWh, and Ethereum 102+ kWh of energy consumption per transaction, compared to Bitcoin Latinum which reduces the amount to 0.00015 kWh per transaction.

It is also an asset-backed cryptocurrency, and is working to be the world’s largest insured digital asset. Bitcoin Latinum’s asset-backing is held in a fund model, so the base asset value increases over time. It accelerates this asset-backed fund growth by depositing 80 per cent of the transaction fee back into the asset fund that backs the currency. Thus, the more Bitcoin Latinum is adopted the faster its asset funds grow, creating a self-inflating currency.

Bitcoin Latinum uses a representative government model to achieve democracy in its ecosystem by allowing community members to participate in the governance mechanism of the protocol via the staking model. The goal is to protect Bitcoin Latinum from 51 per cent attacks.

As the first adopter, Monsoon Blockchain will utilize Bitcoin Latinum in developing various blockchain technologies and business solutions, in addition to digitizing and listing assets for companies and organizations across the globe. The initial industries to be serviced will be gaming, financial services, telecommunications, media and entertainment, and cloud and data storage. Monsoon Blockchain is facilitating the launch of Bitcoin Latinum on public exchanges in 2021.

Dr. Donald Basile, Monsoon Blockchain Corporation’s CEO and founder, is the former CEO of Fusion-IO, a company known for playing a major role in implementing the cloud systems at major financial institutions, and global IT giants. He is also the Co-CEO and Chairman of Roman DBDR, a special purpose acquisition company, which raised $236 million in its IPO last November. Roman DBDR announced a merger with CompoSecure, a provider of premium payment cards whose clients include some of the world’s largest financial institutions. The merger of the two companies will create a combined enterprise value of approximately $1.2 billion. CompoSecure will soon be releasing its new cryptocurrency cold-storage solution, Arculus, allowing users to safely and securely store and manage their digital assets on a state-of-the-art metal payment card.

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