I was asked on Twitter in order to do an article about a coin we haven’t covered before. Even though we have plenty of things about CoinSummit to cover, I do want to take the time to take a closer look at RingoCoin.
The person who brought RingoCoin to my attention also said this digital currency has done some amazing work so far. As this coin launched on May 25th, and I had personally never heard of it, I am very intrigued right now.
Ringo means “apple” in Japanese by the way, it has nothing to do with Ringo Starr. As the developers enjoys his apple a day, the name was easily picked. Not to mention that AppleCoin is already taken, and will probably get you in legal trouble.
In order to try and distribute the RingoCoin supply as fair as possible, there was a relatively longer Scrypt Proof-of-Work stage, and the coin has now transitioned to Proof-of-Stake. There is a multipool available, supporting both X11 and Scrypt mining, which you can find here.
Let’s see at what the developer has been working on lately in regards to RingoCoin, as quite a few new features have been developed which are not in the original post. For starters, the client looks absolutely awesome. Even though pink isn’t my color, I do like it for this client.
Under the hood of the RingoCoin client, we find the source code which has seen various fixes and improvements over the past few weeks. First of all, a Proof-of-Stake reward bug was fixed on May 29th, and another minor bug fix followed on June 1st.
Shortly after, the RingoCoin developer was contacted by anonymous developers in the Japanese subforum on BitcoinTalk. This lead to the improving the stability of the RIN network, and the HeartBleed vulnerability fix.
More recently, the developer added functionality to the RingoCoin client, which shows the block explorer in a wallet tab, and general network statistics in a different wallet tab. I find both features very useful in any coin, as I use them regularly.
A week ago, the RingoCoin developer has announced a new update, which will enable a chat feature in the client. This feature is currently still being tested, and should be released in approximately a week from now.
RingoCoin is a popular coin amongst the Japanese Crypto communities, which is definitely a good thing. Maybe we can make it even more popular around the world with this article. We do what we can, right?
If you are looking to trade RingoCoin, you can use the following exchanges : BitTrex, AllCoin, Monatr (a Japanese exchange) and CoinAder.
A quick rundown of RingoCoin’s technical specifications :
Name : Ringo
Symbol : RIN
Algorithm : Scrypt / Proof of Work + Proof of Stake (Difficulty Reward)
Premine : 0
Block time : 1 minute
Difficulty : DigiShield v2.0
Confirmations on Transactions: 10
Confirmations on Mined Blocks: 360
You can find out more about RingoCoin by using the following sources :
RingoCoin website (in Japanese) : http://dkwzjw.github.io/ringo/
RingoCoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=622288.0
RingoCoin on Twitter : https://twitter.com/Ringo_yaycoin
RingoCoin donations : RRUHKhJhroKLvCrrcMEaY8Wzw7XWgLAZMb