Description of StarCoin
STARCOIN is an opensource type of digital currency that relies on cryptography, alongside a proof-of-work scheme, in order to create and manage the currency. STARCOIN is peer-to-peer and decentralized, and is based on the first Scrypt type cryptocurrency, Litecoin, which was inspired by and technically nearly identical to Bitcoin. Transactions are processed on the peer-to-peer network, balances and transactions are stored on the coins block chain, which is pared to all users and therfore decentralized, as no 1 person has all the transaction data.