The racing industry has grown a lot in recent times. For those who do not know, motor racing is a sport related to competition with cars. One of the most popular sports and perhaps the one where commerce is most intense and heavily influenced by the media.

Formula One is one of the most popular forms of motor racing. It is the most advanced category of motor sport and is regulated by the International Federation of Motorsport. Millions are invested in this industry, as you can see on this chart, provided by Statista, the highest-prize money sporting events in the world in 2016:

Source: https://www.statista.com/statistics/754438/highest-paid-sports-events/

We, too, have Blockchain technology and cryptocurrencies, growing more and more, with market capitalization reaching billions. But what if we could unite cryptocurrencies and Blockchain with the auto industry? Check out this article for Circuit Cryptocurrency (CRCT).

What is Circuit (CRCT)?

Circuit is a cryptocurrency geared towards motoring fans, being one of the first to act in this niche. Its slogan is: “driving the racing world with 01 currency!”. The idea is to partner with companies in this sector and make them accept CRCT as a form of payment. In short, CRCT is the bridge that connects the cryptocurrency universe with racing fanatics.

Coin Specs

Cryptocurrency is open source and is built using the Proof of Stake consensus algorithm with an implemented Masternodes system. The abbreviation used is CRCT and has a maximum supply of 3,000,000,000 coins.

What is Proof of Stake?

Proof of Stake is a consensus algorithm used to commit transactions and generate new blocks in the chain. You earn passive income by holding the coins in your wallet, leaving it open and over time you are randomly chosen who will be the creator of the next block.

What are Masternodes?

To understand masternodes, you need to know what nodes are. Nodes are users connected to the network. And if you have cryptocurrencies in your wallet, you’re a node! The more nodes a network has, the faster, more stable and secure it gets.

Masternodes are servers that have a complete copy of the blockchain, ensuring a level of performance for network actions such as PrivateSend and InstantSend. These services guarantee anonymity and instant transactions, respectively. Masternodes are paid for providing this service through proof of service designed to protect the network. That is, you can also earn a passive income by having a masternode.

To have a CRCT masternode, you will need:

A Dedicated IP Address

Have the required amount of collateral: 500,000 CRCT

A VPS or server to host the wallet 24 /7

Additional storage to hold a blockchain copy

Block Reward Scheme

Roadmap

Its roadmap consists of 6 stages, from 2019 to 2020, indicating the objectives to be met. As of this writing, the project team is looking for partnerships, monitoring site listing, masternode hosting, and staking pools.

Partnerships

Recently, a partnership was made with the auto shop Mr.Auto. It supplies over 1000 products around the world and partners with 80+ mid to high end racing vehicles. The idea of the project is to continue making these types of partnerships with stores within the industry and getting them to accept CRCT as a payment method.

Wallets

The project team took care to consider the entire public by making the portfolios available for Windows, Linux and Mac. This helps a lot in spreading the currency to more people as it reaches all systems.

Project team

At the time of this article, the project has about 12 people participating, all with due experience in the areas, from programming to marketing. They will be available 24 hours on social networks to answer community questions.

Official Links

Site: https://www.circuit-society.io/

Social:

Discord: https://discord.gg/4Rr95Wp

Twitter: https://twitter.com/CircuitSociety

Bitcointalk: https://bitcointalk.org/index.php?topic=5164625

Telegram: https://t.me/CircuitCoin

Github: https://github.com/CircuitProject

Medium: https://medium.com/@circuitcoin

Exchanges:

https://trade.birake.com/market/BIRAKE.CRCT_BIRAKE.BTC