Sanshu Inu (SANSHU) – All you need to know
What is Sanshu Inu?
A cryptocurrency that is primarily used as an asset to trade online. Like a number of other cryptocurrencies, most notably Dogecoin, it’s named after a dog and inspired by an online meme. Anyone who holds Sanshu tokens is paid a reward every time anyone makes a transaction.
Sanshu Inu was created in May 2021 when it launched its coin onto the market. Its main distinguishing feature, aside from a cute dog mascot, is a focus on complete decentralisation and the power of the community. It has put in place transaction limits to prevent one person buying up too much of the total supply.
How does Sanshu Inu work?
Just like many other cryptocurrencies in that it tracks and stores the movement of money using a public ledger known as a blockchain. The blockchain plays the role of a bank, so it checks who owns what and approves any transactions that are made.
Sanshu Inu is a deflationary coin, which means that the total supply is constantly decreasing. It does this by charging a fee on every transaction and ‘burning’ (destroying) 1% of it each time. In the long run, that should increase the value of the coins by limiting supply.
Another 1% of the transaction fee is paid out as a reward to anyone who owns Sanshu tokens. In theory, to act as an incentive for people to hold on to their coins and reduce volatility in the price.
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