KryptKoin was pre-announced on the 12th May 2014, and it’s 100% FREE Distribution started on the 21st May. KTK was then distributed equally to people who qualified for a stake. In total 500 stakes were distributed in 2 stages. Bonus KTK was given to those who held for 30 days .
No IPO, no dev premine. The dev received 1 stake, the same as every other stake holder received.
Development and infrastructure is funded by community donations and to be honest they have been very generous and filled community coffers so it can be wider and more evenly distributed also they have done amazing projects with their community bounties . In the case of KryptoKoin you can now see how it’s to live based only on Proof-Of-Stake from beginning without miners involved at all so it can be called a true economical cryptocurrency . So unlike others IPO’s and PREMINE that are having a big probability of a scam behind it every member of Bitcointalk Forum got 1 Stake each including developer and distributed to a total of 500 active forum members .
Actual Development & Future Plans
Since had no IPO and only free full distribution of all coin possible to be minted by proof-of-stake it was even distributed and development team got same as others members they are relying only on coin holders donations to keep development active . And even with that they have succeeded to create many services for KryptKoin like an active KriptKoin MultiPool which fee’s go into community coffeers and made possible to mine other coins for KryptKoin .
Also they organized an Multi-tiered ASIC Miner Giveaway that activates each level based on KryptKoin market value . For example when it reached at 1500 satoshi / KTK – One lucky miner from their MultiPool will win an Black Widow 13Mh/s + , when KTK price will reach at 5000 satoshi one lucky miner will win an Falcon Miner 27Mh/s+ and so on . More details about KTK Giveaway can be found here :
http://kryptkoin.com/multipool/. It’s a very simple giveaway all you have to do it’s to point any kind of miners to KTK Official Multipool and you will get 1 automatic entry into KryptKoin GAW Giveaway .
It’s very important to do this kind of giveaways to assure a great stability of network and doing real active work and offering real products that can be used in making a profit . Why wouldn’t you choose to stay with KTK if you where a winner ? I don’t find any reason . So it’s a win – win situation that will make everyone part of KTK happy . Hopefully for long term .
Another feature for KTK will be it’s own sleak and beautiful Web Wallet that can be accessed from every corner of the world . It’s still in progress as we read on their forum it will be ready in one week or so . We attached a preview below of the Web Wallet to make an idea about it .
Technical & Social Information
- Algorithm: Scrypt – Proof-Of-Stake
- Money Supply: 17,000,000
- Block Target: 30 seconds
- Transaction Fee: 0.01
- Confirmation: 3
- Block Maturity: 50
- PoS interest: 7% annually
- Min stake age: 3 hours
- Max age: 30 days
It’s a fully featured community ready for more members to take part at it’s evolution . They are a very warm community that aren’t passive-aggressive like some communities turned out to be . It’s a good choice if you are eager to take part of their plans . That’s my personal oppinion , if you choose to invest that’s your soley decision .