Rupee (RUP) Price

Rupee (RUP) is a blockchain-based decentralized cryptocurrency that aims to introduce decentralized finance to the South Asian market. Unlike the traditional South Asian currency of the same name, Rupee seeks to make a name for itself as a widely accepted medium of exchange and means of payment in the region. Its whitepaper states that Rupee plans to offer cheaper, faster, and more transparent transactions, making it an attractive option for those who cannot access conventional financial services.

To achieve its goals, Rupee plans to leverage its brand recognition, offer e-commerce solutions, create a decentralized platform, build a robust community, and implement a rewards mechanism based on Masternodes. RUP is the native utility token of the Rupee platform and is used for payments and rewards for Masternode holders.

The history of Rupee dates back to January 2017 when it was launched as a fork of Litecoin. The coin evolved into Rupee 2.0 by introducing proof of stake in 2018. Currently, the total supply of RUP coins stands at 84 million.

Staking RUP involves holding the cryptocurrency in a wallet for a set period and earning profits based on the number of tokens staked and the length of the staking period. Proof of stake is used to secure Rupee's network and authenticate block transactions based on the number of coins staked by a validator.