For our final article of the day, I wanted to talk about a soon-to-be-launched digital currency, called NoahCoin. This coin will see the light of day on July 10th, so let’s take a look at what makes this Crypto so interesting.
FIrst of all, the NoahCoin developer contacted me on Twitter and asked if I wanted to take a look at this digital currency, and give my thoughts in an article. As I’m always looking for some new content. I figured it would be worth a shot.
Now, as some of you will know, I am not a fan of new (or pre-announced) coins holding an IPO. NoahCoin does have an IPO in place, but at least they are giving a somewhat decent explanation to it, so lets see what the NoahCoin IPO is all about.
The reason for the NoahCoin IPO, is because the raised funds (in Bitcoin) will be used for marketing purposes. Thing such as a promotional video, coin promotion, articles, and other things, will all be paid in Bitcoin, with the funds collected during the IPO.
The full details about using the IPO funds for marketing purposes can be found here.
There is a set of NoahCoin IPO rules as well, which I have copied below :
Noahcoin doesn’t like a fixed price per coin during IPO, but we also want to protect our early IPO investors because sometimes when a coin is getting closer to launch time then more and more deposits are happening, and people that were early IPO investors see their number of coins decreasing a lot.
People that deposit before 7/4 will receive 50% more (so meaning if you deposit 0.10BTC then your value will increase to 0.15BTC and your number of coins that you will receive will be based on 0.15BTC and not based on 0.10BTC)
People that deposit before 7/5 will receive 25% more (so meaning if you deposit 0.10BTC then your value will increase to 0.125BTC and your number of coins that you will receive will be based on 0.125BTC and not based on 0.10BTC)
People that deposit before 7/6 will receive 10% more (so meaning if you deposit 0.10BTC then your value will increase to 0.11BTC and your number of coins that you will receive will be based on 0.11BTC and not based on 0.10BTC)
In the situation that the total amount in IPO exceed 10BTC!!! Then we will increase the IPO from 3% to 4% to allow investors to have a good return on their money that they invested.
So how faster you deposit for IPO how more coins you will receive.
NoahCoin will have a Proof-of-Work coin supply of 40 million coins, of which 3% will be held for the IPO distribution. 1% of the supply is used as a pre-mine , and the rest can be mined via the X13 algorithm, using one of the several NOAH pools available for pre-registration.
What I really do like about NoahCoin’s pre-announcement, is the fact they listed a roadmap before launching the coin. Things like when we will see the block explorer, first online shop, promotional workshops, and other things. You can find the roadmap here.
I know you are all waiting to see NoahCoin’s technical specifications, so here you go :
Total coin: 40 Million
Block time: 120 seconds
Confirmations on Transactions: 10
3% IPO (IPO address : 198quTm3APAZDEctmGSaAHKjG7AxWdmB7h )
Block 1: Premine + IPO
Block 2-100: 1 NOAH
Block 101 – 10000: 100 NOAH
Block 10001 – 20000: 150 NOAH
Block 20001 – 30000: 200 NOAH
Block 30001 – 40000: 150 NOAH
Block 40001 – 50000: 100 NOAH
Block 50001 -100000: 200 NOAH
POS : 10% after block 100 000 POS.
The NoahCoin team seems to count four members, each of which having their own area of expertise. With two software development veterans, an experienced manager and an expert retail marketeer, the NoahCoin team looks very solid.
You can find out more about NoahCoin by using the following sources :
NoahCoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=676280.0
NoahCoin on Twitter : https://twitter.com/Noahcoin_dev