A car dealer in Malaysia held a sales event for luxury cars in Bukit Jalil, Kuala Lumpur Malaysia on 6th of October. He successfully sold 8 luxury cars: 1 Mini Cooper S, 2 Toyota Vellfire MPV, 1 Audi Q7, 1 Porsche 911, 1 BMW 5 Series and 2 Mercedes CLS 350. All these cars were sold on a cryptocurrency named MSD which was price at $0.10 per coin during the event.
It is a blockchain based currency which will serve as a great investment for those looking to invest in digital assets. These crypto currencies are becoming popular for one main reason: The transactions via blockchain can’t be traced which means no payments of taxes on transactions or saving through this currency. You can easily buy MSD through your debit card or credit card and use it across the block-chain network. This currency is backed up by e-commerce businesses around the world making it a safe and stable investment. Currently around 15 million people traders own MSD.
In the case of buying of a car, the buyer will initiate a transaction on block-chain. He will send his coins to the seller to get access to the car. A transaction notification is then sent to the ledgers stored in a network of devices. This network immediately tries to figure out if the coin being sent is authentic or not. This is done by the solving of complex algorithm by computers. These computers also known as nodes can be owned by any user in the network that gets rewards for solving algorithms. The transaction is approved once the network of devices has agreed that the initiator has the MSD. The transaction is then executed and a message is broadcasted to the digital ledger to adjust the entries. The network then records the transaction along with the time-stamp