What is New York Coin?
introduction
According to the developers, NewYorkCoin is a bitcoin for New Yorkers. New YorkCoin is a digital currency for the Internet and has a decentralization, which results from the peer-to-peer network. This decentralization in particular ensures a high level of security and prevents the influence of state and private sector institutions on the development of the token amount. The New York Coin Coin is based on the blockchain of Litecoinwhy it is an accepted technical basis. NewYorkCoin has been traded on the market since 2014. It offers particularly fast transactions, which are made possible by a block time of only 30 seconds.
New York Coin Coin – Details
The developers see some principles which NewYorkCoin from other crypto currenciesshould stand out. Here is a particularly simple type of mining to call, which is guaranteed by the script POW. These include a particularly low difficulty, the ability to use pool miningand mining through the wallet, The mentioned speed also sets New YorkCoin Coin apart from the competition, allowing for time-sensitive purchases, such as transactions in app stores or in restaurants. In addition, a so-called “Fair Launch” was carried out at the start of New York Coin. This means that nobody could mine the token in advance. Furthermore, decentralization and the possibility of global deployment are features of the currency. Even the fast and fair transactions, which are associated with only low fees, characterize the currency.
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In addition, the New York Coin is faster than Litecoin , which is currently the fastest cryptocurrency among the established agents. Furthermore, the developers see New York Coin as a perfect cryptocurrency for everyday life, as it is particularly easy to use. Last but not least, users have the option to do the full credit without a middleman, so all banking is done on a peer-to-peer network. Here, the developers talk of a bank on the smartphone. Miners are currently receiving 10,000 tokens to complete a block. For the future, the developers want to reduce this reward to 1,000 tokens. This is to be done by introducing a new fork that replaces the original currency.
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What is the current market capitalization of NewsYorkCoin Coin?
The New YorkCoin was released for trading on May 6, 2014 through an initial coin offering. Initial Coin Offerings became a market capitalizationof $ 295,587, which was associated with a token price of $ 0.000004. By May 2017, the New York Coin had a steady, but rather unspectacular development. However, then the breakthrough took place, so that within a few days the market capitalization more than doubled from $ 350,000 to a market capitalization of around $ 800,000 on June 29. The previous peak was reached on 20 November. Here, a market capitalization of 5.8 million USD was noted. In addition, the price per token rose to $ 0.000045. At the moment, there are also 129 billion tokens in circulation. However, cryptocurrency is limited to 130 billion tokens, so that the maximum is reached in a timely manner. To get around this, the new Fork will be implemented in the near future.
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