KiloCoin is a crypto coin whose crypto token is known as KLC. KiloCoin is a p2p digital currency. It is a project of software which is open source and is under the license of MIT/X11. KiloCoin is inspired by Litecoin and is almost technically identical with Litecoin (LTC).
The designing and creation of KiloCoin is based on a system that is open source in nature. It is completely decentralised. KiloCoin’s maximum supply is to the number of 25 billion, to be ever in circulation. This is set for over a decade. The optimum policy for inflation during this time period of 10 years will be 10% annually.
KiloCoin was released through an open source client on GitHub on 19th March, 2014 by KiloCoin Inc. It is a fork of Litecoin-Qt client. It differed from Litecoin by having a greater maximum number of coins, different hashing algorithms such as Scrypt and a different Graphical User Interface.
KiloCoin is having the objective of running a clean, and stateless currency which remains absolutely free of crime. BitBar represents Gold and LiteBar represents Silver. Similarly, KiloCoin aims to represent Copper by becoming electronic copper. Each coin of KLC is set at .01 per coin in the beginning. KiloCoin has a future vision of having a great upward potential for KLC since the rate at the beginning and it expects one KiloCoin to attain the status of equivalent to a kilogram of the metal copper in this decade. Presently, KiloCoin is negotiating to acquire untapped reserves of gold in Venezuela and this will be done in return of KiloCoins. This will be of essential value addition of KLC. A pending patent license, purchased from same source, will enable KiloCoin team to make KiloCoin fungible between the peer to peer system and the website. KiloCoin Inc produced KiloCoins, and is the first decentralised anonymous coin in decentralised anonymous state.
KiloCoin, a Litecoin based crypto currency. It is on technology of Scrypt in its PoW algorithm. Use of Scrypt prevents the users from using SHA-256 hashing algorithm. Dedicated Field Programmable Gate Array and Application Specific Integrated Circuit those are useful in digital coins mining, are complicated to be created.
KiloCoin has a fast schedule of initial production of coin in comparison to other crypto currencies. An estimated mined KLC is 10 billion approximately as on April 2015. KiloCoin functioning process is by using public key cryptography. This process makes the user generate a private and a public key of cryptography. The private key is only empowered to decode the encryption on the public key.
KiloCoin is currently is an exchange eligible digital currency. This crypto currency may become the electronic copper within a decade.
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