I was asked on Twitter by a few people whether or not I wanted to do an article about KryptKoin. Not the one with a capital C, but with a capital K. I know the names get confusing, but bear with me through this article.
KryptKoin was pre-announced a little while ago, on May 12th, and distribution started on may 21st. It was a very fair distribution by the look of it, as even the developer only got as much stake of the coin supply as anyone else.
In total, there were 500 stakes (17 million coins) distributed over two different phases. Bonus KryptoKoin was given to those who held their stake for 30 days (or longer). There was no IPO, no pre-mine, and further development is being funded by community donations.
As KryptKoin is 100% Proof-of-Stake, there are only three ways to get some coins : buy them on an exchange, mine them on the KryptKoin multipool, or earn stake from your existing coin balance at 7% per annum. With a minimum stake age of 3 hours, and a maximum of 30 days, there is a good incentive for users to hold onto their coins.
Now as I said, you can mine KryptKoin, albeit not directly, thanks to their multipool. Supported algorithms are Scrypt, SHA-256, X11, X13, X15, Keccak and Scrypt-N. As of today, the KryptKoin multipool will donate 5% on every earn KTK through the multipool (5% bonus payout).
This multipool giveaway will continue to run until the donation pot is filled, which is currently set at 30,000 KryptKoin. Users can also send donations directly to this pot, and more information is provided here and here.
Other than the multipool, quite a bit of development has taken place since KryptoKoin was pre-announced. Tipbots for Reddit and Twitter are available, as well as a paper wallet generator.
You can find out more about these projects here.
There are a few very interesting projects in development for the KryptoKoin community as of this writing. An Android wallet, as well as an online wallet, and a WordPress plugin are all in the development stage at the moment. EnKrypted messaging, which is self-explanatory, will be announced at a future date, so we will keep an eye out for that.
You can find out more about KryptKoin by using the following sources :
KryptKoin website : http://kryptkoin.com/
KryptKoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=606809.0
KryptKoin on Twitter : https://twitter.com/KryptKoin
KryptKoin on Faxebook : https://www.facebook.com/kryptkoin
KryptKoin donations : K8EavkfVKnWxtwM46ntqsmUzQhuRBEeYqn