Blockchain-based platform creator Chain of Points is holding a token offering sale through Mar. 30. The initial crowdsale on TokenMarket offers 21 million points for sale from an eventual pool of 100 million.
Based in Toronto, Chain of Points incentivizes participation in loyalty and gift card programs through the POINTS cryptocurrency, which can be used to transfer and redeem rewards between merchants and customers.
“Using the POINTS token, we have created a turn-key, universally adaptable Loyalty Rewards system that can be easily implemented for any size business,” Chain of Points CEO Irene Katzela said. “The usability and low implementation cost makes this solution very attractive to small and home business owners. Additionally, a powerful API helps make Chain of Points compatible with the more sophisticated workflow of medium-sized and big businesses.”
Chain of Points said no electricity is wasted when creating a new block, which can be made in 10 seconds.
“The Chain of Points blockchain avoids hashing altogether when produce trust, passing the significantly reduced workload on to democratically elected delegates within the system,” the company said in a statement. “The choice to use a Proof-of-Stake-based consensus algorithm allows for global and scalable throughput at no cost for miners.”