Stake JASMY

1. What Is JasmyCoin (JASMY)?

JasmyCoin (JASMY) is a cryptocurrency project of a Tokyo-based Internet of Things (IoT) provider Jasmy Corporation. As a system, the Internet of Things includes mechanical and digital elements endowed with an identifier and the ability to transmit data. The IoT company Jasmy specializes in buying/selling data, and the Jasmy platform connects two categories: service providers and data users. The Jasmy platform was built to restore and protect the sovereignty of individual data by combining IoT technology with blockchain technology and giving users full control over their personal information. The main goal of the project is to establish a secure environment on the platform where users can exchange data in a trustless manner between IoT devices (computers, cars, phones) and decentralized protocols. The mission of Jasmy developers is to create an environment by shaping an infrastructure where users can easily, safely and smoothly use data. As a result, Jasmy aims to provide its users with a powerful infrastructure, an intuitive interface and a secure environment for storing and sharing data. In the Jasmy space, information can be transformed into personal assets. Jasmy decentralizes the workflow with edge computing and storing data on IPFS (InterPlanetary File System). The philosophy of the project is based on the democratization of data using a decentralized model, where data is securely protected and owned by an owner, and service providers get the opportunity to promote their services/business using data (owned by users).

2. Who Are the Founders of JasmyCoin?

Jasmy was founded in April 2016 in Tokyo by several former Sony executives including Kunitake Ando (Representative Director of Jasmy & Former President and COO of Sony Corporation), Kazumasa Sato (President & COO at Jasmy and Former CEO of Sony Style.com Japan Inc.), Masanobu Yoshida (Deputy President & CTO at Jasmy, retired as of December, 2021), and Hiroshi Harada (CFO at Jasmy & Executive Financial Analyst at KPMG). In October 2021, JasmyCoin (JASMY) was launched on the Japanese exchange BITPoint Japan. $JASMY is an ERC-20 token that powers the Jasmy platform, acts as the main utility token of the network and plays a vital role in building the entire Jasmy ecosystem. The project has partnered with major players in the digital industry, among them: Transcosmos, Panasonic and VAIO.

3. What Makes JasmyCoin Unique?

In the digital age, Jasmy is addressing the following challenges: The Jasmy platform guarantees its customers confidentiality and gives them the right to manage their own personal data. With Jasmy, users send information via IoT devices to companies in exchange for services in a secure manner; Jasmy offers a data processing policy in which the information-gathering of customers is carried out properly, excluding information leakage; The Jasmy network ensures a decentralized infrastructure where data management is built on security and trust. Thus, the JasmyCoin project is trying to support the highest possible level of safety and security of the market, and the active use of IoT devices helps to reduce fraud. How it works: user data is kept in a secure storage of personal data. The Jasmy network uses IPFS (InterPlanetary File System) technology, which consists of the Security Knowledge Communicator (SKC) and Smart Defender. To activate SKC, users need to go through the registration and identity verification stage, and it’s possible afterwards to track transactions and manage data. At this stage, investors/companies receive permission to use the personal information of the owners. And with the help of the Smart Guardian (SG) service, IoT devices are securely registered.

4. How Many JasmyCoin (JASMY) Coins Are There in Circulation?

JasmyCoin (JASMY) is a utility token that keeps the network running, it’s deployed on the Ethereum blockchain and operates as an ERC-20 token. JasmyCoin is the only currency of the Jasmy network, and the main use of the token is to pay for personal data from IoT devices. Customers can use JASMY purchasing products on the platform, as well as to protect information. Due to JasmyCoin, users have access to any data from the storage. JasmyCoin has a maximum supply of 50B coins with 4.75B $JASMY in circulation, as of May, 2022. The total supply of JASMY is distributed as follows: 48% to the ecosystem fund, 27% to investors, 20% to contributors and the community and 5% to an incentives program. JASMY did not have an initial coin offering (ICO) event.

5. How Is the JasmyCoin Network Secured?

The JASMY smart contract was deployed on Ethereum in December 2019, and later was audited by SlowMist, a blockchain security firm that provides cybersecurity auditing and protection for digital assets, leading exchanges and crypto wallets; the ​​certificate is available here. JasmyCoin is a Japanese cryptocurrency that fully complies with the legal requirements of Japanese legislation, which strictly regulates transactions with cryptocurrencies and is subject to all kinds of financial audits. Jasmy also claims to be a legal platform that is subject to official registration. This aspect gives the JASMY token a role similar to shares/securities. Jasmy may be held liable in case of exposure of investors and users' savings. For such violations, Japanese law may revoke the license and call for liability.

6. Where Can You Buy JasmyCoin (JASMY)?

As of May 2022, JasmyCoin (JASMY) is listed on a number of crypto exchanges, so it's currently available for purchase on the following platforms: Huobi Global, Binance, Coinbase Exchange, Gate.io, KuCoin, Bitfinex, Bybit, Bittrex, Kraken, Binance TR, LBank, MEXC, ZB.COM, Crypto.com Exchange, Phemex, Uniswap (V3), Tokocrypto, WazirX, Deepcoin, Bitrue, XT.COM, BTCEX, CoinEx, CEX.IO, Pionex, BKEX, Hoo, Bitget, BitForex, Nominex, CoinTiger, LATOKEN, Hotcoin Global, Billance, Mandala Exchange, BingX, Decoin, Hotbit, Jubi and DigiFinex. Want to keep track of JasmyCoin prices live? Download the CoinMarketCap mobile app. Want to convert JasmyCoin price today to your desired fiat currency? Check out CoinMarketCap exchange rate calculator.

7. Advantages of the Jasmy project:

The platform guarantees the safety and control of data; The system ensures the security of shared data using encryption, which acts as a double layer of protection; Jasmy builds a democratic decision-making environment in a decentralized society; In the Jasmy ecosystem, any type of user (companies, organizations, individuals) can access the use of data with the expectation of contributing, innovating or creating value.

8. Related Pages:

Read about MonaCoin (MONA) and Cardano (ADA). The latest data about Ethereum (ETH). What is the Internet of Things (IoT)? Find out with the CMC glossary. Why a new rule in Japan could make it much easier for crypto investors to buy altcoins — check out the latest crypto news with CMC Alexandria.

9. What is Blockchain?

Blockchain is a decentralized and distributed ledger technology that securely records transactions across multiple computers in a verifiable and permanent way. It forms the underlying technology for cryptocurrencies like Bitcoin and enables transparency, security, and immutability.

10. What is Cryptocurrency?

Cryptocurrency is a digital or virtual form of currency that uses cryptography for security. It operates on decentralized networks, typically based on blockchain technology, and facilitates secure and transparent peer-to-peer transactions.

11. What is Bitcoin?

Bitcoin is the first and most well-known cryptocurrency, created in 2009 by an anonymous person or group known as Satoshi Nakamoto. It operates on a decentralized peer-to-peer network and is used for secure, transparent, and censorship-resistant transactions.

12. What is the difference between Bitcoin and Altcoins?

Bitcoin is the original and most widely recognized cryptocurrency, while altcoins refer to any other cryptocurrencies besides Bitcoin. Examples of altcoins include Ethereum, Ripple (XRP), Litecoin (LTC), and many others.

13. What is Staking?

Staking involves participants locking up a certain amount of cryptocurrency in a wallet to support the operations of a blockchain network. It is commonly associated with proof-of-stake (PoS) and delegated proof-of-stake (DPoS) consensus mechanisms, where participants receive rewards for helping secure the network.

14. How Can I Stake Cryptocurrency?

To stake cryptocurrency, you typically need to choose a platform or network that supports staking. Transfer your tokens to a compatible wallet, follow the staking instructions provided by the platform, and lock up the desired amount of cryptocurrency. Once staked, you may start earning rewards.

15. What Are Staking Rewards and How Are They Calculated?

Staking rewards are incentives provided to participants who lock up their cryptocurrency to support the network. The amount of rewards varies and is influenced by factors such as the network's inflation rate, the total amount staked, and the specific rules of the staking protocol.

16. Can I Unstake My Cryptocurrency at Any Time?

The ability to unstake and withdraw your cryptocurrency depends on the specific staking protocol and network. Some platforms may have lock-up periods or unbonding periods during which your staked tokens are inaccessible. Always check the terms and conditions of the staking service.

17. What are the Risks of Staking?

Staking comes with risks, including the potential loss of staked funds if a participant behaves maliciously or fails to fulfill their responsibilities. Market volatility can also impact the value of staked tokens. It's crucial to thoroughly research the staking protocol and understand the associated risks.

18. Can I Lose Money by Staking?

While staking is designed to be a rewarding activity, there is a risk of losing money, especially if the value of the staked cryptocurrency decreases or if the staking protocol encounters security issues. It's important to consider both the potential rewards and risks before participating in staking.