Silkcoin is pure Proof of Stake coin, except in the 2 stages of initial distribution where POS and POW are mixed you can find it on Poloniex or Bittirex with a fixed interest rate at 2% and it’s name making it so exotic and making you think at the old Euro-Asia route “Silkroad” where merchants across the world would pass to sell their exotic goods , so far so good , sounds like half of POS/POW hybrids that flooded the market but stay with me on this one cause it’s getting interesting . Why ?!
Technnical Info come first , sorry .
I know you can’t wait too see what we got on this coin that’s so special but first speficications so keep calm and stay reading !
- Block time: 1 minute
- Maximum POW supply: 100 million
- Difficulty retarget: every block
- Stake interest: 2% annually
- Min transaction fee: 0.0001 SC
- Fees are paid to miners
- Confirmations: 10, maturity: 350
- Minimum stake age: 12 hours – No max age
- P2P port: 16666, RPC port: 16667
- Stages and Proof of Work
- Algorithm: scrypt
- Block reward: 5000 SC, no halving
- First stage POS-POW : block 1 to 10 000 (~7 days & ~30 million coins because of POS blocks)
- Second stage Full POS : block 10 000 to 50 000 (~30 days)
- Third stage POS-POW : block 50 000 to 60 000 (~7 days & ~30 million coins because of POS blocks)
- Last stage – Full POS at 2% per year and 12 hours maturity
Features & Projects – Prepare for mind blow .
Wallet !!! That wallet of SilkCoin It’s freaking amazing if you dint saw it yet you better download it now . It has tons of features that i wished so much before so much and i tried convince some developers to do the same and they sent me to Github and pull a request and start doing myself …such rude as developer , but not at SilkCoin . They have started to finally make a wallet usable and a pleasure to use .
Now let’s count the features that this wallet has ! As well i uploaded a print-screen for you guys to enjoy it’s beautiful UI !
- Beautiful UI
- Easy unlock/lock for staking – No need to write of walletpassphrase…
- Built-in IRC chat – Finally i don’t need to download extra software so i can keep contact with the community !
- Coin Control
- Built-in BlockExplorer
- Built-in Market Explorer (soon exchanger) – I am like WTF ? Amazing ! 10 +
- Soon Bittorent integrated ? – Ha , these days i spoke with some friends about this can’t wait to see it !
- Tutorials and more SilkCoin info like Live Prices and Stats about network !
My impression so far ? Amazing coin and a lot of work and development on it !
Oh it’s fancy & easy !! But it has any future plans ?
So far the development team it’s very active with weekly updates and some Eco-System that looks interesting you can find out more on their BTT Thread . So they are active and they got future plans for their beautiful project we can expect weekly updates in order to improve user experience.
It’s safe to invest ?
I am pretty sure it is and it would be much more secure if it would be on-wallet trade as they plan so it can be more decentralized and as much as possible far from a 3rd party trading system . With weekly updates , active community and fair distribution i consider it a very good investment as developers invest their time in this project every day so that means they work hard for their Premine not like others because of that i only drop -0.5 points for Premine not the usual -1 point ! And always trade carefully and don’t but my eggs in the same basket even if SilkCoin looks very trustworthy – trade with care in general no matter what coin and keep them on your personal wallet most of the time !
SilkCoin it’s an awesome coin and development team with lots of features and future plans ! It’s a must have in your coin portfolio !
Also if you liked this article and you are a user of Silkcoin use the Donate button select “SC” = Silkcoin and show some love !