Even though we still have plenty of news to cover in regards to existing altcoins, Inside Bitcoins London and Bitcoin mining hardware companies, there is a new coin called VexCoin. For some reason, it has been generating quite some buzz, so let’s take a look at what VEX is all about, shall we?
Vex wants to profile itself to the investors, traders and speculators by providing the crypto community with honesty, growth and profit. All of this is quite possible considering VEX is a Proof-of-Stake coin, and there is no (direct) mining involved. How it will play out remains to be seen, but we’ll get back to that later.
Early VexCoin investors stand to make the most profits, as is always the case when you make an investment. People could invest early because there was an ICO for VEX on the C-Cex exchange. Even though it’s not often we see an ICO on C-Cex, they do have some very strict guidelines coins have to abide by , which you can find here.
There were a total of 9,500,000 VEX for sale during this ICO, of which 7,787,286 coins have been destroyed after the presale ended, because there coins remained unsold. If you did manage to get your hands on some VEX, there is now a supply of only 1,719,839 VexCoin in circulation. Why didn’t I invest? Oh well…
25% Of the Bitcoin raised during this ICO was put back on the C-Cex exchange in order to create buy support for VexCoin. A very interesting strategy, and even though they didn’t see the amount of coins they hoped for, the 25% was still put up as buy support. It is good to see some people still keep their word.
I did mention there is no (direct) mining involved with VexCoin. That statement is true, but there is a multipool available though. The VEX paid out will be bought from the C-Cex exchange, thus creating even more buy support. If you are interested in mining at the VexCoin Multipool, you can find out more details here.
As we have seen with nearly all altcoins being recently released, the VexCoin team has gone through a process of Trust Verification. Not the regular Proof of Developer process though, but te Trust Verification by CoinsSource. VexCoin came out with a 5/7 rating, with the possibility of making it 6/7 after the ICO and a7/7 rating after one month of existence.
Even though all of the above sounds great, we all want to know what is coming next, as the work of a developer is never done. One of the first things to be coming very soon is a VexCoin online wallet. Web Wallets seem to be making a comeback over the past few weeks, and if the developers can integrate staking, this could be a very nice development for the VEX community. The expected release date is September 25th.
The end of September, more particular the 29th, is an interesting date to mark on your calendars as well. If all goes according to plan, the VexCoin Android Wallet will be released on this day. Once again, I do hope it includes mobile staking, especially because VEX is a Proof-of-Stake only altcoin.
Would you like to be trade VexCoin directly from your client? I bet you do, and you will be in luck, as this feature is coming on October 8th. I do expect more exchanges to have added VexCoin by that date, so it will be interesting to see how the prices match up and whether or not there might be arbitrage possibilities!
The final feature announced for now will allow users to see live technical indicators in the VexCoin client. I’m not exactly sure what this means, but I’m looking forward to finding out more on October 15th!
-Minimum Stake: 12 Hours
-Maximum Stake: 48 Hours
-Re-Target time: 20 seconds
-Target Spacing: 60 Seconds
-PoS Interest: 10% per Annum
9,500,000 total coins at launch (of which most have been destroyed)
Guaranteed buy support
To find out more about VexCoin, you can use the following sources :
BitcoinTalk : https://bitcointalk.org/index.php?topic=775546.0
Twitter : https://twitter.com/VexCoin