For our last article of the day, I want to talk to you about ProCoin. I’ve been putting this off unintentionally for over a week now, but it’s time to put things in order get the news out there. After all, I promised the ProCoin team I’d do it.
So what is ProCoin exactly? Well, first of all, you need to know the ProCoin team (6 members) are devoted to making the world a better place through cryptocurrency. Fun, profit and charity are all equally supported.
When developing a new cryptocurrency, it is not easy to have a long-term plan in place, as you can’t really predict how the community and markets will respond. By having a strong focus on marketing, ProCoin might be able to pull it off though.
For now, the biggest part of marketing will be done online, as online marketing is where the advertising revenue and attention is coming from. Word-of-mouth is a good way, but how often do you hear someone tell something amazing and then end with “Yeah, I saw it on a site somewhere”?
As far as the technical details for ProCoin go, I’ll give you the rundown, quoted from their official site :
“PoW Algorithm: Scrypt
BlockTime: 60 seconds
Difficulty: Retargets every half hour (every 30 blocks)
Reward per block: 1,000 coins, and this reduces by 5% every 30 days. 30 days is “1 period”. At the start of period 75 the maximum reward per block stays at 23 indefinitely (1 million per month). Therefore the currency reaches capacity after around 20 years.
Total number of coins: 1 billion
Pre-mine: 2% of total coins have been mined prior to the coin’s launch. This comes to a total of 20 million coins, all of which will be kept at publicly viewable addresses, and all this pre-mine will be given away to the growing ProCoin community in gifts and rewards/bounties. Most of this in fact will be handed out during March and April of 2014 to help the currency gain traction and value quickly, and to help expedite the process of building a thriving community.”
In regards to the 2% pre-mine ,the ProCoin team is keeping a public ledger on how these funds are being allocated. So far, little over 750,000 coins have been sent out already for block explorers, pools, Mac & Linux wallet development,et cetera. You can find more details about the public ledger by clicking here.
As far as services developed for ProCoin, you use ProCoin as a payment method on AltAccept, where merchants can list anything they want in exchange for a lot of supported cryptocurrencies, including PCN. For a full list of services, games and tools, click here.
If you are looking to buy, sell and/or trade ProCoin on exchanges, you won’t have to look far. Europex, AllCrypt, BitTrex and SwapHole all have PCN listed in trading pairs. Hopefully either MintPal or Poloniex will pick up ProCoin soon, to give it some more exposure.
ProCoin Donations can be sent to : PPCgroLU2KtMpC55TLs6chhUwEfSPgAXc8