Setcoin: The Service Exchange Cryptocurrency

Just like many other platforms in the digital space, Inserviss Platform is decentralised but also acts as a marketplace that gives service providers the ability to not only register, but also publish the services they offer, perform promotional campaigns, and get reviews from different consumers. Not just that, it allows consumers order for services they are interested in, and book the time when they would like to make use of it. All this is made possible on the platform by the use of a verified in-app cryptocurrency known as Setcoin.

What is Setcoin?

Issued by Inserviss, setcoin is a verified cryptocurrency that operates on the blockchain technology. It is used on the Inserviss platform by consumers whenever they want to pay for services listed in the platform.

The Setcoin Blockchain

Asides the decentralisation that comes the blockchain technology, the Red Belly Blockchain Consensus (RBBC) stands in core of the Setcoin Blockchain, which makes it 11.5 times faster than Visa, and 94,000 times faster than Bitcoin.

The Red Belly Blockchain is able to process more than 660,000 transactions in a second, unlike the Bitcoin network which has a limit of around 7 seconds per second and the Visa network that has a top capacity of about 56,000 transactions in a second.

Benefits of the Setcoin Blockchain

With the unique features of the Setcoin Blockchain, the platform offers both consumers and service providers benefits such as:

  • Zero Commission by getting rid of third-party individuals or middlemen, and the extra costs that come with the exchange of assets.
  • Security due to its decentralised nature, which gives it more protection from malicious attacks.
  • Faster and Global since there are no restrictions on geographical locations, and transactions are carried our faster.
  • Immutability and Transparency since transactions cannot be deleted or altered once confirmed, and they are made public to the entire network
  • Empowerment because service providers and customers are in full control of transactions and information on the network.

The Setcoin ICO

With USD, EUR, BTC, LTC, and ETH being the accepted payment methods on the Setcoin network, the Setcoin ICO began on February 1, 2018 with a total supply of 300 million setcoin, 50 million setcoin available for pre-ICO, and a total of 1 billion setcoin issued.

1 BTC is valued at 100,000 SET, 1 ETH at 4000 SET, 1 LTC at 1250 SET, 1 EUR at 6 SET, and 1 USD at 5 SET.

Inserviss saw the need to create a medium where service providers can showcase their services, and consumers can easily get access to these services. With the setcoin blockchain, services can be booked, and payments can be made faster from anywhere around the world using the Red Belly Blockchain.

With this platform there are no commissions, more security, faster transactions, and complete control of information for both consumers and service providers, which is taking the world of service exchange to the next level.

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