Starting today, we’re going to do a few “special” articles, focusing on one coin, split over a few parts. For now, this will only be about one coin, but if it proves to be a success, we’ll gladly do other coins.
The coin we will be talking about is MinCoin. MinCoin is a crypto currency that , for some reason, hasn’t seen much spotlight, and is hardly ever talked about outside of the MinCoin community. I guess it’s time for an introduction then, so you can all see what you’ve been missing out on!
MinCoin is a Scrypt crypto currency, and even though it was launched originally on April 3rd, 2013, it has recently been re-launched, on February 25th 2014.
As far as the technical tidbits go, we can do a quick round-up of all the important details :
Supply: 10 million MinCoin
Block Time: 1 minute
Difficulty Retarget: 60 blocks
Block Reward: 2 coins per block
Pre-mined: Zero Premine
I honestly can’t stress enough how important it is for a crypto currency to have absolutely NO pre-mine when launching. But we’ll discuss this more in a different article next week or so.
With a reward of only 2 MinCoin per block, you can see why not too many miners would take an interest in it. We are currently at a stage where “big numbers are better” according to a lot of people. Whether that’s wrong or not, is completely irrelevant at this point it would seem.
Either way, MinCoin definitely has a great community, and plenty of tools have been built in order to promote this crypto currency, such as this informational video :
Even though you might argue that “most” crypto currencies have multi-platform clients, MinCoin clients are available for Windows, Linux & Macintosh. Working clients, I might add.
Yes, you can gamble with it, but you can also buy stuff on an auction site with a built-in escrow system. What more could you ask for?
Before we wrap this up, I would like you to take a look at this :
“TO EMPOWER PEOPLE WITH THE ABILITY TO GOVERN THEIR FINANCES BY ENABLING THEM WITH A SUPERIOR METHOD OF WEALTH STORAGE, WEALTH TRANSFER AND A MOBILE PAYMENT SOLUTION CURRENTLY NOT AVAILABLE WITHIN TODAY’S BANKING SYSTEM AND THE OUTDATED INFRASTRUCTURE IT SUPPORTS.”
— Mission Statement, MinCoin Dev Team —
This was just a short introduction to MinCoin, as we will be taking an in-depth look at their services and tools over the coming days.
Stay tuned for our next MinCoin article, which will be released tomorrow!