NovaCoin

NovaCoin-decentralized digital network

Novaco Information

Algorithm Array
Proof type PoW
Start date 05/10/2015
Coin Tag N/A
Website Novaco

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NovaCoin-decentralized digital network

NovaCoin is an open source digital currency and it works on peer- to –peer algorithm. Although, this decentralized digital currency is based on hybrid Proof-of-Work (PoW) / Proof-of-Stake (PoS) block generation methods with separated target limit. This cryptocurrency was introduced in the market in early 2013 by a developer called Balthazar.

Technical Specification:

Scrypt Algorithm
Initial reward of 100
Slower reward drop
NovaCoin cuts a half from the reward for every 64x diff adjustment.
POS difficulty adjusted for 100 times fewer coins.
POW difficulty adjusted for Scrypt
ROI for POS changed to 0.05 coins per 1 coin-year.

However, it is essential to download NovaCoin Wallet for doing the transaction on this network and the wallet is compatible with Windows, Linux, and Mac. Once the wallet installation is complete, users can instantly start storing coins. Coins can be acquired by mining or from a registered NovaCoin Faucet.

The Key features of NovaCoin mining:

10-minute stake spacing,
30-minute proof-of-work spacing,
Balanced proof-of-work blocks and stakes weighting.
Moreover, miners should know the fact that it shares the same block time with Bitcoin but rewards are much lower at 9.38 coin/block.

Moreover, the NovaCoindifficulty modifies every block while its difficulty is set at 357.8398 as of now. But irrespective of the high difficulty-rate and low block-reward, miners will be treated to a more regular and steady gathering of coin rewards.

If a user gets to find him collecting more coins from mining, then the use of a NovaCoin Calculator is an easier option to speculate and calculate the estimated expected earnings in a day, a week, or in a month, and concurrently in a year.  In this instance, users can monitor if he is reaching the targets he has set for a specific timeframe.

NovaCoin Exchange

However, NovaCoin (NVC) is operated in a variation of exchanges like Cryptsy, Bter, BTC-e, Vircurex, and CoinEX. What’s stimulating to note, although, is that it doesn’t only trade with Bitcoin but also with USD? This means that users can purchase and sell NVC using fiat currencies like USD. Although the NovaCoinPrice/Value seems to be heading south as reproduced in the exchange rate chart, it’s seen to have an established performance in the market.

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