BlackCoin is an open source, P2P cryptocurrency that makes use of PoS or proof-of-stake system and was created to establish the fact that the cryptocurrency’s method of disabling proof-of-work is stable and secure. BlackCoin has significant transactions and ensures the security of its network through a process known as ‘minting’.
BlackCoin claims to be the only 100 percent Proof of Stake coin and is eco-friendly as well as it does not make use of power guzzling mining hardware. Besides, the coin reflects the highest level of transparency as the bank history is shared by everyone. The wallet being open-source, it can be securely audited. The platform works in a highly efficient manner and at an amazing speed. Money can be sent to any part of the globe within seconds, literally. The transparency aspect is further strengthened as anyone can run the BlackCoin wallet in anonymity without sharing personal information of identification.
The system is highly technical as is the case with most cryptocurrencies, but with BlackCoin, the system is user-friendly and easy to learn and understand. The transactions are handled by a group of users. The network can be joined by anyone using BlackCoins which makes everyone using this cryptocurrency a banker, technically. The coins are generated through the mining process. A stake interest of one percent is generated by every account to ensure the security of the system.
The BlackCoin network is easily one of the best, making it the best cryptocurrency available. It has many interesting features including the Proof of stake system which allows users who stake to secure the network. They can enjoy attractive interest rates of up to 5 percent per annum. The rate would depend on the weight of the network. The security of the system is further enhanced as it is decentralized. There are minimal chances of hacking and unauthorized access. The NightTrader feature of BlackCoin makes security breaches nearly impossible. BlackCoin offers the highest level of anonymity and privacy to users thanks to the unique and innovative Legionnaire feature. This stealth address ensures the ultimate anonymity.
BlackCoin used the Power of Work system during the initial distribution which offered a limited supply of the coin at 75 million BLK. The current supply is 76 million coins. The minimum transaction fee is 0.0001BLK and the inflation rate is 95 percent. The market cap of BlackCoin is $28,675,662.
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