FAQ

MORE ABOUT BLACKCOIN

Think of it like a peoples bank. Your accounts cant be frozen, it is completely and always free, it is anonymous, much more secure than traditional banking and payments can be sent to anyone in the world within seconds. Anyone can create an account just by downloading the software. This bank has no owners and cannot be shut down. Because it is peer to peer, it is completely transparent. There is a limited supply of coins making it valuable and a great store of wealth like gold. New coins can only be generated by the networks 1% interest rate. Everyones account generates 1% interest per year to help keep the system secure.

So welcome to the future of currency!

Safe, fast, secure, anonymous, exciting and most of all fun!

Here are some other accomplishments or honorable mentions:

-Blackcoin was the first coin to go full proof of stake.
-It is also the worlds first coin to have working smart contracts.
-In early 2014 Blackcoin was the first coin to combine POS with a multipool. It was so powerful it was nicknamed the "Blackhole".
-Blackcoin was the first coin to crowdfund and hire an advertising/PR agency Max Bourges!
-Blackcoin is known for having an outstanding community. Everyone is a star here at Blackcoin. They have all worked tirelessly to make this coin one of actions instead of words. It is one of the most active communities next to Dogecoin.

HOW IT WORKS

Did you know that in the United States that cryptocurrency is considered a commodity? So this means you get incredible tax breaks! Also many countries do not even tax it. Many people think smart contracts are the future! This is like the dawn of the internet. Money will never be the same again. So how does this work?

The ability to manage transactions and issue additional BlackCoins is all handled by the network of users utilizing BlackCoin. So this means YOU are the banker. Because the BlackCoin network is run by the people, holders of BlackCoin, who receive a 1% yearly interest through a process called staking. BlackCoin is open-source too, meaning that the software that makes it function is completely available for public scrutiny giving you peace of mind. No one owns BlackCoin, it is not a single entity; anyone can be a part of it. The bank history is also called a "Blockchain". This history is shared by everyone. So when you download the program you save a copy of the history and share it! In addition you will stake while the software is running and make sure the bank history is secure. So it is impossible to counterfeit. Your account is a collection of keys. You can use those keys to sign transactions and evencontracts! Nobody else in the world has a copy of those keys, only you. So it is impossible to forge your digital signature. Thanks to the brilliant combination of digital signatures and torrents, cryptocurrency has risen to popularity.

So to summarize:

Everyone gets paid to keep the network secure
-Everyone shares the bank history, so its transparent
-The software is open source so you know its safe
It is anonymous and anyone can open an account
It is extremely fast, you can send money to anyone in the world within minutes
It is and will always BE FREE.

BLACKCOIN VS BITCOIN

So what makes Blackcoin so different from Bitcoin?

We love Bitcoin however we also seek to improve on it. Because Bitcoin is so big, it takes too much time for people to agree on innovative changes. This is why there was a huge surge in alternative currencies last few years. This has paved the way for Blackcoin.
Blackcoin has continued to lead the way in blockchain innovation. The coin itself has been forked from Github more than any other coin in the world! It was started by Rat4 who worked on mostly POS(Proof of Stake) innovations. Rat4 wanted to prove that staking could be secure and more efficient than Bitcoins old fashioned and expensive Proof of Work.

Several members of the community combined the fast POS with a mining pool to help support the market price and volume by applying upward pressure and this resulted in a huge rise in Blackcoins popularity. Later Rat4 was joined by David Zimbeck the sole creator of BlackHalo who was an active community member. David who was previously well known in other fields such as Chess and Entertainment taught himself Python and coded a 'Smart Contracting' platform called BitHalo. Because he believed in Rat4 and agreed with the security of Blackcoin and the Multipool innovations, David chose to debut Halo in Blackcoin. Because of this, Blackcoin was an entire year ahead of other Smart Contracting proposals such as Etherium. Rat4 then took to making proof of stake more secure by forcing users to interact more with the network and to eliminate some of the security flaws. So he created Proof of Stake 2.0. In 2015, Rat4 has started working on a 3.0 protocol to finally master the protocol. In the meantime, David released a Decentralized Marketplace and Decentralized Servers and greatly improved BlackHalo giving it tons of new and exciting features focused on user friendliness. All of this was to prepare the coin for the arrival of a Decentralized Exchange built solely on Blackcoin. Since then, many other developers have contributed. Drunkonsound, a community member, built and sponsored the exco.in exchange as well as several other Blackcoin projects. The exco.in exchange was the first exchange to have live, high frequency trading and built with lots of great charting and features for trading. Again Blackcoin grew and a new project, Legionairre was also started by a community member, btclaw. Legionairre gives people the ability to have Stealth Addresses. Their primary focus is your privacy. The momentum in Blackcoin has been continuing and every year more new and exciting features are being added.

The best part is, if you get involved you can be part of all of the excitement of the future of the internet.