BlackCoin

Logo BlackCoin

Blackcoin Information

Algorithm Scrypt
Proof type PoS
Start date February 24,2016
Coin Tag BLK
Website Blackcoin

Blackcoin – Information About BTC Exchange

Blackcoin (BLK) Exchange was launched in February 24,2016, created by the developer Rat4.
Black Coin -Currency of the future is a peer-to-peer cryptocurrency, which is using a proof-of-stake system and is open-source. It was with the goal of proving that Black Coin’s way of disabling proof-of-work is stable and secure. And also secures its network through a process called “minting”. All Transactions in Black Coin called “significant” in a Citibank white paper thoroughly.
This means Black Coin is amenable and new coins will exist by the Proof of Stake algorithm only.

Advantages:

Quick Transactions.

The Proof of Stake system transactions to get confirmed super quick transactions. While other coins take up to ten minutes for their first confirmations, it has regularly had a confirmation in the first ten seconds flat usually.

Energy Efficient

Since BlackCoin Market does not accept the Proof of Work after 10,000th block mining is not possible anymore. This makes BlackCoin very highly energy efficient on transactions.

Extremely Low Inflation.

Through this you will receive a 1% compound interest on a yearly basis on the coins have hold with you. Due to the low 1% interest in BlackCoin, inflation is extremely low.

Mining

Proof of Work mining is not possible anymore. This coin is now pure PoS.
Blackcoin Pool was design for supporting, profitability, long-term growth and value of Blackcoin. And it is not possible to mine Blackcoin directly. Instead of this pool aggregates the hashing power of the community to mine other profitable altcoins, and then uses those proceeds to buy Blackcoin.
It has, Only 2% Fee: No registration needed for blackcoin
Therefore, you get paid fairly, on the shares in the market you submit
Did you know that in the United States cryptocurrency is considered as a commodity?
This means you get incredible tax breaks! Also, many countries do not even tax it. Many people think smart contracts are the future! Just like the dawn of the internet. Money will never be the same again. So how do this works?
The ability to manage the number of transactions and issue additional BTC Exchange is all handled by the network of users utilizing BlackCoin. This means YOU are the banker. Because the BlackCoin cryptocurrency network is run by the people, proprietors of BlackCoin, who receive a 1% annual interest through a process consider as “staking”.

BlackCoin is open-source too

BlackCoin is open-source too, meaning that the software that should make it function is completely available for public scrutiny giving you peace of mind. No one possesses BlackCoin, it is not only a single entity, anyone can be a part of it. The bank history is also called a Blockchain.

This post is shared by every person. So when you download the program you save a reproduction of the history and share it! In addition to you will stake while that the software is running and make sure the bank history is secure. So it is unbearable to counterfeit. Now, your account is a collection of keys. You can use those keys to sign transactions and even contracts! None of one in the world has a copy of those keys, you only have them. So it is impossible to forge your digital signature. Thanks to the brilliant combination of the digital signatures and also torrents, cryptocurrency has risen to popularity.

So to summarize:

–Gets paid to keep the network secure and safe.
-Everyone shares the bank history, so it is apparent
-The software is open source so you know it’s secure.
–It is anonymous and anyone can open an account
–Also, it is very fast that you can send money to anywhere in the world within a few minutes only.
–It is always, be free software.

HOW TO DO Stake your Blackcoins

First Open your BlackCoin wallet.
Therefore, it makes sure that your wallet has enough black coins.
Staking is the process of earning interest on your holdings. For that, you must need holdings!
Wait for BlackCoin wallet for sync.
The block chain must be finished syncing before that you can begin staking.
Now, Unlock the wallet.
Wallet Unlocking allows your coins to take part in the staking process of. For that Go to Settings > Unlock Wallet for doing unlock the wallet. By default, this unlocks the wallet for staking only.
Just wait a few minutes for the staking icon to turn into green.
Henceforth, once the staking icon turns green, your coins are ready for staking. You will earn rewards every few days, depending on the size of your holdings, adding up to 1%.

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