I usually try not to write an article about new altcoins which haven’t even been released yet. However, as Sterlingcoin was brought to my attention by someone I know for years now, I figured I could make an exception. Looks like cryptocurrency battle for the UK is heating up!
Sterlingcoin wants to be the cryptocurrency of the UK & British Isles. In order to achieve this goal, it’s facing some stiff competition from other altcoins such as BritCoin and BlackCoin, as well as Bitcoin, which are all gaining traction in the UK.
The twist is that Sterlingcoin will be the first X13 altcoin to launch with services. These services include merchants, exchanges, mining pools, paper wallets, and other things we all so desperately need. There will even be a mobile wallet for both Android and iOS at launch!
Several of the previously mentioned services have been made public already. LitePaid and LiteBit are two of the services which will work with Sterlingcoin. On the exchanges front, BitTrex has confirmed they will open up a trading pair at launch.
We can also confirm no less than three UK merchants who are partnering with Sterlingcoin as well. Flawless Clothing, Mr Snappy’s (custom snapback store) and AeroSoul (snapback and streetwear store) have all been confirmed.
So when is this new coin launching? September 20th is the date to mark on your calendars, and the time to be paying attention is 10PM GM. Sterlingcoin is announced well in advance, so there are no valid excuses to miss out on this launch!
Even though the Sterlingcoin launch is still a few weeks away, there are some facts we can tell you about, which are some of the reasons why I’m writing this article right now. For example, did you know Sterlingcoin will do a spacedrop?
If you have no idea what a spacedrop is, don’t worry, neither did I until 30 minutes ago. A spacedrop is a crossover of an airdrop (AuroraCoin) and a faucet. UK Residents will receive 50 Sterlingcoin each, and non-UK residents will receive between 1 and 50 Sterlingcoin each. Yes, that’s right, the spacedrop is open to non-UK residents as well. For more information, click here.
In order to fund this spacedrop, 1% of Sterlingcoin’s total supply will be instamined (639,000 coins). 90% of the instamine will be used for the spacedrop, 6% will be used for giveaways and bounties, and the remainder will be used for development, support and server costs.
The Sterlingcoin whitepaper is a very interesting document, and makes for a fun read. Once this altcoin launched, there will be a 6 month PoW period, so no shenanigans on that front. A welcome change from most other recently launched/launching cryptocurrencies out there.
Another noteworthy fact about Sterlingcoin : it has been approved for the Facebook MultiCoinTipping application, allowing you to tip other application users in SLG. You have to be a member of the SLG Facebook group in order to tip people however.
Time to take a look at Sterlingcoin’s technical specifications :
Coin type: X13 (PoW/PoS)
Coin Suffix: SLG
PoW Period: 6 Months
PoS Starts: After PoW
PoS Min: 1 Day
PoS Max: Unlimited
PoS Interest: 5.5% Annually
Initial coins per block: 50 Sterlingcoin
Target spacing: 2 minutes
Target timespan: DGW3
Transaction Confirmations: 15
Coinbase maturity: 30 blocks
Instamine: 1 %
Max Sterlingcoin: 63,900,000
To find out more about Sterlingcoin , you can use the following sources :
Website : http://sterlingcoin.org.uk/
BitcoinTalk : https://bitcointalk.org/index.php?topic=721936.0
Twitter : https://twitter.com/SterlingcoinSLG
Reddit : http://www.reddit.com/r/sterlingcoin