What is Pillar
Pillar (sym. PLR) is a peer to peer, open source, decentralised cryptocurrency and meta-token which is compatible with every popular token and works like an ecosystem for the personal data of the user.
History of Pillar
Pillar is set up by Tomer Sofinzon, Vitor Py, David Siegel and Yogesh Gaikwad. They have an impressive and long team of advisors. Pillar went public via a crowdsale in July 2017. A total of 48 million Pillar coins were sold during the pre-sale and another 528 million were sold during the actual crowdsale. Pillar earned over $50 million in the crowdsale. The hard cap of Pillar is set up at 800 million coins.
How Pillar Works
Pillar works as the top chain of all the cryptocurrency tokens in a multi-wallet provided by the company. The wallet works in tandem with the browser and the exchanges to provide a complete ecosystem for the smart devices.
Pillar wants to create a totally decentralised and Smart Contract driven ecosystem where all the user data are recorded automatically by the ecosystem and is kept safe for personal use only. Moreover, Pillar delivers Smart Contract based handling of such data. Thus, the user can interact in his daily life and Pillar will continuously acquire the knowledge and store it locally for the user alone. Presently, all we do are tracked by the big names in computing, Google, Facebook, Microsoft, Apple and others.In other words, Pillar is an advanced concept where every information system converges.
The Pillar tokens are used whenever the user wants to transact, for example, pay for a product or service. However, People can store other fiat and cryptocurrencies in their Pillar meta wallet as well and the conversion will be done via the integrated exchanges, enabling users to pay via any currency.
Pillar is a very advanced integration of user data, smart contracts, smart browsers and exchanges, enabling users to do almost anything.
- Personal Data Locker: Every user data, which now goes to big corporations, will be under the ownership of the user himself and secured by a key which is only with the user. The threats like an invasion of privacy, tracking and monitoring behaviour and ad selling will be mitigated via this.
- Smart Contract based World: Every interaction and transaction is based on smart contracts and thus the browser, the exchange and the personal data set of the user come together to handle almost everything automatically, a true vision of the future.
- Integrated Browser: Pillar has Brave browser integrated which also has a built-in transaction mechanism, enabling the Pillar wallet to do transactions over the browser, automatically.
- Integrated Exchange: Users can choose their own exchanges and convert other currencies, fiat and crypto, to and fro Pillar coins. With no exchanged forced on the user, the user can get the best rates.
- Multi-currency Wallet: Pillar wallet is a multi-currency wallet which can hold all the leading fiat currencies and cryptocurrencies. The conversion is easy with user-chosen exchanges and it is possible to transact directly in a non-Pillar currency as well if the seller accepts that.