As I was asked to do a StealthCoin article at some point, and seeing how there is barely any altcoin news at this time, we might as well get it done right now. What Is it that makes StealthCoin so attractive? Time to find out!
StealthCoin was launched on July 8th, making it one week old as of this writing. The reason why it’s called StealthCoin is because the main focus of this digital currency is privacy, which is still an increasing concern on the minds of lots of people.
Some vendors may accept a certain payment (Bitcoin for example), while others still fear using it because it has ties with “illegal activities”. Even though fiat currency is as dirty and illegal as it gets in it’s own right, that discussion is for another time.
StealthCoin aims to provide end-to-end user privacy protection by implementing Tor. The big plan is for StealthCoin to become the primary private digital currency over the next six months. Very ambitious, but not impossible if you ask me.
What I like about StealthCoin, and any other coin taking the same approach, is how they try to achieve a fair distribution, which is always a point of heavy debate. The first four hours of Proof-of-Work contained blocks with a very low reward, allowing both miners and pools to set up everything properly.
Another hot topic of debate (we have way too many of them if you come to think of it), are coins with a pre-mine. StealthCoin also has a pre-mine, which consist of “only” 1%, for future development. I use quotation marks there, because a 1% pre-mine is little to some, and far too much for others.
With anonymity and user privacy being the top priorities for StealthCoin, the team is dedicated to keeping users’ coins safe. From what we can gather, there will be constant improvements to how both features will work;, so we will keep an eye out for further information.
Something worth of note is The Great Stake Challenge. The person at the end of each 24 hour period with the closest value to 1 new staking transaction per minute will receive 5,000 XST. This challenge started yesterday evening, and runs for 72 hours.
You can find out more about The Great Stake Challenge here.
Time to take a look at SteathCoin’s technical specifications next :
Block time: 60 seconds
Total PoW time: 14 days
Total PoW money supply: 23,273,860 XST ~20,700,000 XST
Blocks 1-10 premine 23,274 XST each (total premine 232,740 XST)
Blocks 11-260 award: 16.0 XST each (4 hr low reward for fair launch)
Block 261+ award: 8,000 XST
Block award halves every 1440 blocks (~1 day)
Last PoW block: 20,420 5459
PoS interest: 20% annually
Coin PoS age: Min. 3 days / Max. 9 days / coins stop aging at 15 days
As far as exchange go, you can trade XST at BitTrex, Cryptoine and SunsCoin.
To find out more about StealthCoin, use the following sources :
StealthCoin website : https://stealth-coin.com/
StealthCoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=681725.0
StealthCoin on Twitter : http://www.twitter.com/StealthCoin
StealthCoin donations : SGTTZSPH5id8oX3JrFKV6FrFiygbCmqrFP