#jiocoin

jio coin kaise kharide

Right now, you can only earn Jio Coin through the Jiosphere app, but many people are wondering—will it enter the larger cryptocurrency market soon? Let’s explore.

What Is Jio Coin?

Jio Coin is a digital token created by Reliance Jio. For now, it’s part of the Jiosphere app, where users can earn it. But people are curious if it will grow beyond the app and become a cryptocurrency like Bitcoin or Ethereum.

What Could Happen Next?

If Jio Coin becomes available in the open cryptocurrency market, it could make a big impact, especially in India. Jio already has millions of users, so Jio Coin could quickly gain attention. Plus, Reliance Jio is a trusted name, which might encourage more people to try crypto.

However, there are challenges. India’s rules for cryptocurrencies are still developing, and entering a market with big players like Bitcoin and Ethereum won’t be easy. Jio will also need strong technology to make Jio Coin secure and reliable.

What’s the Future?

Whether Jio Coin stays within the Jiosphere app or becomes part of the global crypto market, it’s already starting discussions about the future of digital money in India.

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Reliance Jio Says It Has Not Launched a JioCoin Cryptocurrency App

Jio, the Mukesh Ambani-backed telecom operator, on Wednesday denied having launched any JioCoin cryptocurrency application, and advised people to refrain from dealing with any such apps. “Reliance Jio has come across reports in media and other websites about the existence of purported JioCoin apps on the Internet that are soliciting investments in cryptocurrencies from people,” a company statement said.

It said: “Reliance Jio would like to inform the public and media that there are no such apps offered by the company or its affiliates/associates. Any such apps using the JioCoin name are fake and people are advised to refrain from dealing with any of them.”

“Reliance Jio takes a serious note of such fraudulent attempts by unscrupulous persons to misguide the public in the name of Jio and reserves the right to take appropriate legal recourse,” the company added.

Cryptocurrencies are considered controversial by nature because of their unregulated nature, and regular fluctuations in their value. Finance Minister Arun Jaitley in his Budget 2018 speech said the government will work towards eliminating cryptocurrency uses in India as they are not legal tender. On the other hand, the use of Blockchains – the underlying technology for cryptocurrencies – will be explored by the country.

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Yes Reliance is planning to launch its own cryptocurrency named JioCoin, which just reminds us of the very famous or infamous BitCoin. Reliance Jio has announced that it will build a team of 50 young professionals to work on Blockchain technology. But before we discuss any further on this first lets discuss what is Cryptocurrency and BlockchainTechnology :

Cryptocurrency : It is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units and to verify the transfer of assets. Cryptocurrencies are classified as a subset of digital currencies, alternative currencies and virtual currencies.

Blockchain : Originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a hashpointer as a link to a previousblock, a timestamp and transaction data. By design, blockchains are inherently resistant to modification of the data. It is an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way.Once recorded the data in any given block cannot be altered retroactively without the alteration of all subsequent blocks, which requires collusion of the network majority. Block chain technology is used for all cryptocurrency transactions.

We all know about Bitcoin – created in 2009, was the first decentralized cryptocurrency. The rise of Bitcoin has been meteoric over the years, it touched 20,000 dollar mark last year and is said to double in value in 2018. With only 21 million Bitcoins to be ever produced the demand is gone through the roof, and mining for ‘Satoshi’ the smallest unit of Bitcoin has already started, each Bitcoin can be divided into 100 million Satoshi. Since Bitcoin, many other Cryptocurrencies have been launched or launching, ‘PETRO’ announced in 2017 is the first centralised cryptocurrency backed by the Venezuela Government. The very infamous prophecy about BitCoin has turned out to be true when people who were under the impression of handling it were not keen where to invest as the world’s leading agencies and invest firms were at their wit’s end about it.

Coming back to JioCoin, after disrupting telecom industry with its free offers and hyper-competitive tariffs, Reliance Jio wants to foray into Blockchain technology and will be headed by Akash Ambani. The company plans to work on various Blockchain products like smart contracts and supply chain management logistics, and JioCoin is one of these applications. The company also plans to get into Internet of Things (IoT) and Blockchain technology will come in handy there as it provides shield against data tempering. Well how much JioCoin can achieve remains to be seen but the possibilities are virtually endless.