What is Phoenixcoin?
introduction
Phoenixcoin’s team prides itself on having created one of the very first altcoins. The launch of the cryptocurrency was on July 4, 2013, less than three months after Bitcoin launched. Since then traded under the symbol “PXC” currency can in all relevant online exchanges for crypto currencies be found. Currently there are 63,034,162 PXC in circulation. Extrapolations suggest that 98,000,000 PXC will exist at the end of the mining phase.
Read Also : What is ProCurrency Coin?
Read Also : What is NetCoin?
Read Also : What is BlockPay Coin?
Phoenixcoin – A slightly older coin
The term “Altcoin” means in the world of crypto- currencies all those currencies that followed the pioneer Bitcoin – the biggest and best known are Litecoin , Ethereum or DASH . As the name implies: An alternative to Bitcoin. Today there are a large number of such Altcoins, Phoenix belongs to one of the oldest. Bitcoin was launched on April 28, 2013, Phoenix on July 4, just over two months later.
Phoenix and most other Altcoins carry similar specifications as Bitcoin does. The currencies are decentralized across the blockchain and there is a strong interest in winning a large community to keep the currency as stable as possible. Theoretically, all cryptocurrencies are vulnerable if more than 51% of the aggregate computing power is provided by one source. This is also called 51% attack. Who controls the computing power, can ensure that all units of the currency would be transferred to his account. This is similar to a stock when an investor holds more than 50%. Theoretically, then, the future of the company’s stock can be controlled.
Technical specifications and details of Phoenixcoin
Phoenix is based directly on Litecoin. For mining, the NeoScrypt algorithm is used, which, depending on the setting, is particularly suitable for use with a CPU or GPU. Thus, the cryptocurrency can also be easily minted from home using a home computer. Every 90 seconds, a new block is created, which makes the currency many times faster than Bitcoin. Bitcoin has an average block time of 10 minutes. This allows transactions to be carried out much faster. The Phoenix Wallet is currently available for Windows, Linux and Mac.
Read Also : What is ProCurrency Coin?
Read Also : What is NetCoin?
Read Also : What is BlockPay Coin?
What is the current market capitalization of Phoenixcoin?
Phoenixcoin experienced its market launch on July 4, 2013, when the market capitalization of $ 32,368 (USD) was realized through a $ 0.011,663 coin value. Although the cryptocurrency initially gained in value, this broke completely already in September 2013. Market capitalizations remained permanently below $ 10,000.
Phoenix first peaked on December 1, 2013. The stock market value on that day was $ 776,224 with a coupon of $ 0.121416. Again, the value could not be maintained and in turn broke the currency. By mid-2017, she was practically broke, but since then she can see a steady rise, but is subject to strong fluctuations. On December 29, a market value of $ 989,171 was realized through a coin value of $ 0.015703.
For More Digital Coins Information here
The post What is Phoenixcoin? appeared first on Technology Geeks | Gadgets | IoT | News.
