Key Metrics

Real Volume (24H)$0
Fully Diluted ValuationN/A
ATH Date1/6/2018, 3:00:00 AM
ATL Date3/8/2014, 2:00:00 AM
Circulating Supply62M
Total Supply100M
Popularity Rank2195
What is BlackCoin?

BlackCoin (BLK) is a cryptocurrency that was developed with the aim of providing a secure and anonymous payment system that can process transactions in seconds. It facilitates peer-to-peer transactions in a decentralized manner, and is one of the earlier adopters of the proof-of-stake (PoS) consensus mechanism to secure its network. The platform aims to become an eco-friendly platform, and is focused on proving the validity of proof of stake.

The BlackCoin platform was developed to address some of the potential security issues associated with the proof-of-stake protocol. These issues include coinage abuse by malicious nodes and periodic staking by honest nodes, which can leave the network insecure. To address these problems, BlackCoin proposed various solutions such as taking the coinage out of the equation, changing the stake modifier, and using a hash function. These proposed changes aim to improve BlackCoin’s PoS protocol security and have been made with optimization in mind.

Using PoS, BlackCoin aims to scale for mass adoption while mitigating and plugging potential risks. The platform boasts several features, including Proof-of-Stake 3.0, which rewards users for keeping their wallets open to secure the network through staking. Additionally, the platform is eco-friendly, as it doesn’t require mining hardware. The ledger history is transparent and open to users, and the software or wallet is open source so that safety can be audited. Transactions on the platform are quick, and anyone can operate the wallet and transact with anonymity, as no personal identifying information is required.

The native currency of the BlackCoin platform is BLK. BLK is a decentralized and eco-friendly currency with near-instant transaction speed and nominal fees. It is traded as a commodity and is built upon Proof of Stake 3.0. Owning a BlackCoin token means owning rights to a private key, which is a password to ‘unlock’ or ‘spend’ unspent transaction outputs (UTXO). Each UTXO ‘comprises’ a fixed amount of BlackCoin, and an address may be associated with a UTXO and can only be spent with a private key.

In summary, BlackCoin is a secure and anonymous payment system that facilitates peer-to-peer transactions in a decentralized manner. The platform is focused on proving the validity of proof of stake, and boasts several features such as Proof-of-Stake 3.0, eco-friendliness, and quick transactions. BLK is the native currency of the platform, and owning a BlackCoin token gives users rights to a private key, which can be used to unlock or spend unspent transaction outputs.


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