Cryptocurrency system

A system for managing cryptocurrency, the system including a memory for storing computer-readable program code and a processor wherein the code, when executed by the processor, causes the processor to perform the steps of:

• providing each of a plurality of users with an in-marketplace wallet, the in-marketplace wallet suitable for storing linked and bonded digital tokens that are linked in value to cryptocurrency tokens and that are required to transact on a digital marketplace platform;
• providing a cryptocurrency reserve suitable for storing a plurality of cryptocurrency tokens;
• responsive to a user purchasing digital tokens from a marketplace store, linking digital tokens, wherein the linking comprises:
• receiving, by a smart contract, an amount of cryptocurrency from a user;
• retrieving, by the smart contract, data relating to a pre-defined price-supply relationship between the digital tokens and the cryptocurrency and determining a price for the digital tokens using the pre-defined price-supply relationship;
• generating, by the smart contract, a number of linked digital tokens based on the determined price;
• transferring the number of linked digital tokens to the in-marketplace wallet of the user and transferring an equivalent value of cryptocurrency tokens to the cryptocurrency reserve;
• responsive to the user withdrawing a number of linked digital tokens from the in-marketplace wallet of the user, removing the desired number of linked digital tokens from the user's in-marketplace wallet;
• and
• responsive to the linked digital token transferring component transferring linked digital tokens to the user's in-marketplace wallet, transferring an equivalent value of cryptocurrency tokens to the cryptocurrency reserve and for, responsive to removing the linked digital tokens from the user's in-marketplace wallet, transferring an equivalent value of cryptocurrency tokens from the cryptocurrency reserve to an out-of-marketplace wallet of the user, the out-of-marketplace wallet suitable for storing cryptocurrency tokens outside of the marketplace platform.

A computer program product for managing cryptocurrency, the computer program product comprising a non-transitory computer-readable medium having stored computer-readable program code that, when executed by a processor, causes the processor to perform the steps of:

• providing each of a plurality of users with an in-marketplace wallet, the in-marketplace wallet suitable for storing linked digital tokens that are linked and bonded in value to cryptocurrency tokens and that are required to transact on a digital marketplace platform;
• providing a cryptocurrency reserve suitable for storing a plurality of cryptocurrency tokens;
• responsive to a user purchasing digital tokens from a marketplace store, linking digital tokens, wherein the linking comprises:
• receiving, by a smart contract, an amount of cryptocurrency from a user;
• retrieving, by the smart contract, data relating to a pre-defined price-supply relationship between the digital tokens and the cryptocurrency and determining a price for the digital tokens using the pre-defined price-supply relationship;
• generating, by the smart contract, a number of linked digital tokens based on the determined price;
• transferring the number of linked digital tokens to the in-marketplace wallet of the user and transferring an equivalent value of cryptocurrency tokens to the cryptocurrency reserve;
• and
• responsive to the user withdrawing the number of linked digital tokens from the in-marketplace wallet of the user, removing the desired number of linked digital tokens from the user's in-marketplace wallet and transferring an equivalent value of cryptocurrency tokens from the cryptocurrency reserve to an out-of-marketplace wallet of the user, the out-of-marketplace wallet suitable for storing cryptocurrency tokens outside of the marketplace platform.