Did you know it costs a business about 5-25X more to acquire a new customer than it does to sell to an existing one?
Not only that, but existing customers spend 67% more than new customers. In short, customer loyalty really pays off — and customer loyalty programs end up paying for themselves.
In marketing generally, and in banking, entertainment, hospitality, retailing, and travel more specifically, a loyalty card, rewards card, points card, advantage card, club card is a plastic or paper card, visually similar to a credit card, debit card, or digital card that identifies the card holder as a participant in a loyalty program. Loyalty cards (both physical and digital) relate to the loyalty business-model.
By presenting such a card, purchasers typically receive either a discount on the current purchase, or to an allotment of points that they can use for future purchases. Hence, the card is the visible means of implementing a type of what economists call a two-part tariff.
Why MB8Coin?
MB8 Coin will be used as the ‘fuel’ for the existing loyalty rewards network. MB8 Coin will be the first ever cryptocurrency that is released with a proven real world use and will be accepted as part or whole payment within the existing network of vendors and retailers.
MB8Coin uses public-key cryptography, peer-to-peer networking, and proof-of-stake to process and verify payments.MB8Coins are sent (or signed over) from one address to another with each user potentially having many, many addresses. Each payment transaction is broadcast to the network and included in the blockchain so that the included coins cannot be spent twice. After 30 minutes to an hour, each transaction is locked in time by an amount of processing power and collateral value that continues to extend the blockchain. Using these techniques, MB8Coin provides a fast and extremely reliable payment network that anyone can use.
The process of verification
MB8Coin uses public-key cryptography, peer-to-peer networking, and proof-of-stake to process and verify payments. MB8Coins are sent (or signed over) from one address to another with each user potentially having many, many addresses. Each payment transaction is broadcast to the network and included in the blockchain so that the included coins cannot be spent twice. After 30 minutes to an hour, each transaction is locked in time by an amount of processing power and collateral value that continues to extend the blockchain. Using these techniques, MB8Coin provides a fast and extremely reliable payment network that anyone can use.
Now, How the transaction verification process going on?
Transactions are cryptographically signed records that reassign ownership of MB8Coins to new addresses. Transactions have inputs – records which reference the funds from other previous transactions – and outputs – records which determine the new owner of the transferred MB8Coins, and which will be referenced as inputs in future transactions as those funds are respent.
In a transaction, the sum of all inputs must be equal to or greater than the sum of all outputs. If the inputs exceed the outputs, the difference is considered a transaction fee, and is redeemable by whoever first includes the transaction into the block chain.
MB8Coin Core Wallet
The MB8Coin Core client stores private key information in a file named wallet.dat following the so called “bitkeys” format.
It contains:
• keypairs for each of your addresses
• transactions done from/to your addresses
• user preferences
• default key
• reserve keys
• accounts
• a version number
• Key pool
• Since 0.3.21: information about the current best chain, to be able to rescan automatically when restoring from a backup.
The wallet.dat file is located in the MB8Coin data directory and may be encrypted with a password.
It is intended that a wallet file be used on only one installation of MB8Coin at a time. Attempting to clone a wallet file for use on multiple
Finally
MB8Coins, the coinbase/coinstake transaction is also used for assigning the recipient of any transaction fees that were paid within the other transactions being included in the same block. Once coin staking takes place, the coinbase transaction becomes empty and instead a coinstake transaction is responsible for minting new coins.
✅Website: https://mb8coin.io/
✅Whitepaper: https://mb8coin.io/%24whpdir/MB8%20Whitepaper.pdf
✅Twitter: http://twitter.com/MB8Coin
✅Facebook: http://fb.me/MB8Coin
✅Telegram Group: https://t.me/joinchat/HS6S5UljzEQlZR6nw0m61g
✅Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3623567
Details of the Author:
✅Bitcointalk username: Erik_Smuel
✅Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2020517
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