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What is Nyancoin?

Tags: nyan nyancoin

What is Nyancoin?


Nyancoin is based on the well-known internet meme “Nyan Cat”, a cat flying in space in a ray of rainbow. Developers of the cryptocurrency have signed an agreement with the artist of Nyan Cat, calling Nyan the “world’s first licensed cryptocurrency”. A few months after the launch, the inventor of the Nyan currency disappeared, but by then a strong enough community was already building up to support the currency and ensure that it continued. Marketed had Nyan already on 10 February 2014. Since then, it can under the symbol NYAN in all major markets for crypto currencies traded on the internet. There are currently 318,929,301 units of the currency NYAN in circulation, it is expected that 337,000,000 NYAN will be available at the end of the mining phase.

Nyancoin – beginner-friendly cryptocurrency

The website of Nyan is designed very beginner friendly. Newcomers to the subject of cryptocurrency find their way quickly and should ask questions, then you will also find lots of useful information and tutorials. All important questions about the topic are treated succinctly but should provide a sufficient overview of the subject matter. What is a cryptocurrency, how are functional addresses, how does the Wallet software work, how do I perform transactions, what are blocks. These are just a few of the questions that the website answers and direct descriptive instructions for, so anyone can start mining directly, no matter how much prior knowledge he brings.

Technical specifications and details of Nyancoin

Nyan is also based on the Scrypt algorithm, which is a pure proof-of-work algorithm. This means that all value creation in Nyan alone is done through calculations to create new blocks in the blockchain . This makes it one of the few crypto currencies that today still relies entirely on classic mining as an opportunity for profit. New blocks are annealed at a rate of one block per minute. This makes Nyan ten times faster than Bitcoin , where only every 10 minutes a new block is generated. The Nyan Wallet Windows, Linux and MacOS are available. Just like with the minens, there are also step-by-step Wallet tutorials, so even beginners can find their way around quickly and get their first NYAN today.

What is the current market capitalization of Nyancoin?

At its launch on February 10, 2014, a market value of $ 236,781 was realized through a pro-coin value of $ 0.011989 (USD). Nyan has a turbulent history on the market. Shortly after its launch, the cryptocurrency rate began to decline, reaching its all-time low on December 21, 2014, when a coin was temporarily worth $ 0.000003 and the stock market value of NYAN dropped to $ 525. This can be explained by the absence of the original developer of Nyan. In the following period, the currency could recover a bit, but really stabilized only from 24 May 2016. From then on, it went steadily uphill. Finally, on December 15, 2015, NYAN was able to get a value of 0,

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What is Nyancoin?


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