Sango, a new game-changing crypto?

After adopting bitcoin (BTC) as legal tender, the Central African Republic decided to create the Sango sidechain and crypto. The objective of the Sango project is to eliminate the limits of the Bitcoin (BTC) blockchain, while meeting the needs of the Central African government.

Sango stands out from CBDCs

According a tweet of the project-team, on August 14, the new cryptocurrency Sango “ is already changing what it means to be a government-backed cryptocurrency“. “The first-of-its-kind cryptocurrency brings the full power of the Bitcoin blockchain to create a digital-first economy.“. You should know that the Sango sidechain offers the various advantages of the Bitcoin (BTC) network. At the same time, it was designed to fill the gaps in this blockchain. Sango meets this criteria while offering more than government-backed cryptocurrencies typically offer.

To this end, the Sango cryptocurrency is intended to be more scalable relying on thesmart contracts. It also offers more privacy and programmability. It contributes to increasing the transaction speed of the Bitcoin network by managing part of its load. Additionally, the Sango sidechain was created in such a way that not suffer from overload problems as its main blockchain. This cryptocurrency therefore facilitates transactions which are also becoming cheaper on the Bitcoin network.

The operation of the Sango crypto is controlled by the institutional quorum of the Central African Republic. This quorum is formed by the president, ministers and members of the National Assembly democratically elected to assume this role. Despite this control, the purchase of this crypto is decentralized, which is not the case with CBDCs issued by central banks.

The Central African Republic wanted to create a more secure and citizenship-friendly monetary system with Sango. She is aware of the fact that the reach of digital assets goes beyond borders. Thanks to them, international exchanges are easier and faster.

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