It’s time to take a look at a new Crypto, on this Fun Friday. Even though we have plenty of coins to choose from, one has to pick wisely. I really feel like MastiffCoin is a good choice, partially because of what they have in the pipelines which no one else knows about just yet….
Introduction to MastiffCoin
Before we can talk about their super secret project, we should really dig deeper and find out what MastiffCoin is all about, and how everything has gone up until this point. Sit back, relax, and I’ll do the hard work for you.
MastiffCoin was brought into the world of Crypto on May 22nd, making it little over a week old as of this writing. Ever since that day, there has been a relatively small group of people keeping an eye on this coin.
One of these interesting features is the fact that MastiffCoin had two bonus Superblocks phases. These phases would be active during the first 24 hours, and the last 24 hours of mining. As of right now, we are in that last 24-hour period.
Being a Proof-of-Work/Proof-of-Stake X11 hybrid Crypto, MastiffCoin would switch to full PoS as soon as there were 25,000 blocks mined. Each block has a 88 MAST reward, except for during the aforementioned Superblocks phases. During the PoW phase, a maximum total of 2,7 million coins are generated.
You may have noticed I mentioned “full PoS” and not just ‘PoS”. That is because as soon as MastiffCoin got past block 14,400, users started receiving stake on their coin balance. Stake generates at the rate of 15% annually, which will be compounded interest.
At 398 periods per year (2 hours minimum stake age, 10 hours to mature after that, so 22 hours in total per cycle) , this makes the annual stake an effective ~16,18%. This will encourage people to stake, which provides price stability and network/transaction security.
MastiffCoin also has a 1% pre-mine, which will be used for promotion, bounties, giveaways, and future development. Even though I‘m personally not a big fan of pre-mines, 1% is somewhat reasonable I guess.
By reading all of the above, I’m sure you are interested, but are still waiting for why I chose this coin specifically. That’s normal, as it was intended this way. Let‘s get to the good bits!
Impressive Wallet Functionality
One of the main things about MastiffCoin that really intrigued me, was the fact that their wallet synced without the need for adding more nodes. Even though this is not the first time, it’s definitely becoming somewhat of a rarity over the past few months.
The reason behind the proper functionality is because of the built-in supernodes which are built into the MastiffCoin wallet itself. Not only does this help with syncing, but it also prevents forks and other bugs that tend to plague PoW/PoS hybrid Cryptos.
You may remember me mentioning that part of the 1% pre-mine would be used for future development? That includes paying for these supernodes, as well as paying hosting for the website, and paying for the MastiffCoin Block Explorer.
Transparency might be one of the hottest commodities about Crypto these days. Even though a lot of focus is also on technical features, people still want to be able to see a ledger of sorts. And that’s not a bad thing, considering everything most of us have been through lately.
The MastiffCoin team is fully committed to transparency in accounting for the usage of the 1% pre-mine. Details about every transaction have been made publicly available , and can be found on the MastiffCoin BitcoinTalk announcement thread.
Developing a new Crypto is only part of the hard work. Without goals in mind for the (near) future, your coin isn’t going anywhere any time soon. MastiffCoin has already set some goals to ensure they are here to stay.
“Our primary goal with MastiffCoin is to provide a reliable blockchain and maintain a stable network for the coin. Hassle-free transactions are absolutely essential to any coin being able to achieve substantial adoption. Having working proof-of-stake (PoS) functionality means that MastiffCoin is setup to be around for a long time, as the network will remain secured through PoS.”
Now, I did mention they have something special in the pipelines that no one else knows about. That is also a part of the future plans for MastiffCoin, and could very well change the Crypto landscape as we know it.
Time to lift the veil, as you’ve all been waiting long enough for the details. MastiffCoin will allow users to “recycle” other alt coins that they are either holding in vain, or simply forgot they owned, and exchange them into MAST.
You know how multipools mine other coins, which are then exchanged to Bitcoin, and then they use these Bitcoins to buy up the coin you originally wanted on exchanges? This recycling process does the same, but without the mining part.
As we all know by now, most of the new Cryptos that get released won’t live long enough to see their first birthday. There can be various reasons for this, but it usually ends in a lot of people holding (nearly) worthless coins.
This is where MastiffCoin’s recycling program comes in, as it will allow you to trade pretty much any Crypto that you ever mined and want to get rid off. Call it some sort of spring cleaning for coin wallets if you wish.
One of the most important facts about this recycling program, is that it works for any algorithm. Whether the coin is Scrypt, SHA-256, Scrypt-N, X11, Scrypt-OG, X13 or anything else, as long as they are on an exchange, they can be recycled into MAST.
Keep in mind that, when a lot of other coins are being recycled into MAST, no new MAST coins will be generated. All coins used for payouts will be bought up on exchanges, creating massive buy pressure and price increases.
Speaking of exchanges, there are currently two places where you can trade MastiffCoin : Poloniex and BitTrex. MintPal voting is currently underway as well, so make sure to get in some votes if you are able to.
All of the above, including the successful launch of MastiffCoin, wouldn’t have been possible without the help of several people. IPOMiner and DedicatedPools were the two big pools available from the time of launch.
The services of ThisWeeksCoin were invaluable as well, in order to get the initial promotion for MastiffCoin underway. WizFarm is also a key element in the promotional campaign, and his support is extremely valuable.
All of the above makes MastiffCoin one of the most innovative Cryptos I have seen in a long while. I’m definitely keeping my eye on this coin, as it could become quite valuable to say the least. You may disagree with this though, so feel free to leave a comment below!
MastiffCoin website : http://www.mastiffcoin.com/
MastiffCoin thread on BitcoinTalk : https://bitcointalk.org/index.php?topic=613622.0
MastiffCoin on Twitter : http://twitter.com/mastiffcoin
MastiffCoin on Reddit : http://www.reddit.com/r/mastiffcoin
MastiffCoin donations are welcome to : D91iiMyjjoxzDYGJGnPZr1F4WeKDCkyRkS