This crypto currency Netko (NETKO) is a project by the Slovenian company, netko.it. Netko is a Proof of Stake (PoS) digital currency. Netko uses public ledger for the Internet of Things and loyalty of customers.
Netko has the plan to use NETKO, the crypto coin initially to act as a token of loyalty for its existing and future customers. This token NETKO is also to be used to promote the company’s business. The company, netko.it may think of integrating other services by the use of blockchain of NETKO.
The creator and launching company of Netko made a decision of opening the coin for mining to all, just because it will be a good gesture for the coin to have a good standing reputation of being a fairly launched coin.
The network for Netko started on March 8th, 2017 at 9:00:00 GMT.
Netko uses NETKO as its Ticker, with the algorithm BLAKE 2S. The coin’s peer to peer post of 25960. It has remote procedure call (RPC) port of 25970. Last Proof of Work (PoW) subsidy block is 12960 and the first block of Proof of Stake (PoS) is generated at 12960. The subsidy for Proof of Work (PoW) is decided at 259 NETKO and subsidy for Proof of Stake (PoS) is decided at 25 NETKO until block 900,000, and 0.25 NETKO after block 900,000.
The Proof of Work (PoW) subsidy phase will last for three months. This will generate 12960 blocks x259 NETKO = 3,356,640 NETKO. The Proof of Stake (PoS) subsidy phase will continue for eight years. This will be generating 887100 blocks x 25 NETKO = 22,177,500 NETKO. The total NETKO generated during these phases will be 25,534,140 NETKO. The block reward for Proof of Stake (PoS) after block 900,000 will be fixed of 0.25 NETKO, which will add 43800 NETKO more to the supply of crypto coin every year.
The staking will begin at block number 12900. The miners and the users need to keep their wallets closed or locked till then. The user may maintain a reserve balance which should be higher than the number of coins the user holds in her/his wallet. If this is not followed, the wallet will make efforts to stake the entire time and ultimately will fill the user’s log with ERROR, and block not accepted at the end of the chain.
Netko is a cryptocurrency working on Proof of Stake system and public ledger. It is here to win customer’s loyalty and there fore has a potential of rapid growth.
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