What is Rocket Pool digital currency
Rocket Pool is a digital currency that was created to provide users with an alternative to traditional banking and financial services. It is designed to be used as a medium of exchange, similar to other cryptocurrencies such as Bitcoin. The main difference between Rocket Pool and other cryptocurrencies is its focus on providing users with access to decentralized lending solutions, allowing them greater control over their finances.
The platform utilizes smart contracts in order for users’ transactions and loans are securely stored on the blockchain while being backed up by Ethereum-based tokens called RPL (Rocket Pool) tokens which act as collateral for any loan agreements made through the platform. This provides users with increased security when compared to more traditional banking methods since all funds are held within the blockchain itself rather than in centralized banks or institutions where they could potentially be vulnerable if hacked or stolen from outside sources. Additionally, RocketPool also offers low transaction fees due its use of automated market makers instead of relying solely upon miners for processing payments like most other cryptos do today – this makes it significantly cheaper than many existing alternatives out there currently available today!
Finally, one major benefit provided by using RocketPool's digital currency system versus regular fiat currencies is that it allows people who may not have access traditional bank accounts or credit cards can still participate in online commerce without having worry about expensive fees associated those types services - making it perfect those living developing countries who don't always have easy ways paying goods/services online safely securely without fear losing money due high costs involved doing so otherwise!