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.
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.
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.
Proof-of-Stake is eco-friendly and efficient, and avoids the vast waste of energy and hardware overhead of Proof-of-Work based networks.
Over time, BlackCoin's core protocol has made industry-leading improvements to Proof-of-Stake security and general functionality (PoS 2.0 and PoS 3.0).
The block time target is 64 seconds, so working that out per year (60/64 x 60) x 24 x 365 is 492750 1.5BLK block rewards in a year which is 739,125 new BLK per year roughly. As of right now, 739,125 is 0.972% of the total supply of 76,034,138BLK.
This 0.972% is distributed to only fraction of the shareholders, the ones who stake. The reward rate is above 1%, average 4-8% annual depend on time and amount of BLK staked.
That means if only 20% of coins were being actively staked, you could actually get around 5%/year for continually staking, since 80% of people (avg) weren't staking and get nothing.
Network weight is computed from the last 72 blocks.
You could find exchanges with the biggest volumes at Blackcoin.co/Buy or at Coinmarketcap.com/Markets
You would have a hard time to find a computer today that is NOT able to stake.
There's no predicting exactly how many stakes you will get. However, if you stake with more coins, you get more blocks and you more likely to find a reward. Someone staking 24 hours a day, 365 days a year would get more (~24x) than someone staking the same amount of coins an hour a day.
Staking is a kind of lottery. Some days you'll get more than usual, some days less. It's just an estimate.
DO NOT DOWNLOAD FROM OR SIGN UP TO ANY OTHER BLACKOIN LOOK WEBSITE!
You can find BLK Bootstrap at the bottom of the page (FAQ/OTHER/BOOTSTRAP).
2. Make sure your Firewall or Anti Virus software do not block wallet connections.
3. Make sure your system's clock is accurate.
4. Coins take around 8 hours (~501 Blocks) to mature.
5. Wallet will create his own peer circle. It takes time. However you can help the wallet with giving it a list of nodes: To apply addnode, you have to find your blackoin.conf. It should be here:
Mac OSX: $HOME/Library/Application Support/Blackcoin/
Then go to https://chainz.cryptoid.info/blk/#!network
Click on "node list"
Copy the whole list to the end of blackcoin.conf
* Sometimes OS hides file extensions so check if a .conf is not actually .conf.txt
If you still receiving problems, check your debug.log, look for errors and ask on BlackCoin Slack (https://slack-blackcoin.herokuapp.com/) WHATEVER YOU DO, BACKUP YOUR WALLET.DAT!
If you are sending these coins to a friend, exchange or business, then all you will need is their Receive address (known as a deposit address on exchanges).
If your wallet is encrypted, which hopefully it is, you will also need to have your passphrase (encryption phrase) ready as this is required every time you want to send coins out of your wallet.
Pay To: Enter the Blackcoin address of your friend/exchange or business. (These addresses will also be stored in your built-in address book, where you can label or re-label whenever you wish)
Label: This makes it easier for you to remember who the address belong to, so if you send to an exchange like say Poloniex, type in Poloniex exchange.
Amount: How much you want to send.
Please note that if you are sending coins to an address, make sure that you copy and paste the address in to the Pay To area instead of typing it in.
This will hopefully prevent you from entering an incorrect address.
If you have just bought some BlackCoins from an exchange, or are being paid in BLK then you will need to have a Receive Address so that the coins can be sent straight to your wallet.
By default you will only have one Receive Address, so just right-click on it and select Copy Address. This prevents from trying to manually type it out and making errors.
Now give that address to whoever wishes to pay you (or exchange).
You dont have to use the same address to receive coins for every transaction as creating a new address is very simple.
Just click New Address at the bottom and then label it whatever you wish (eg. Donation from site) so you can view individual transaction made to you easier over time.
If you want more connections, you need to accept inbound connections.
The wallet listen on port 15714. Just check if that port is not blocked. Also, It takes time for other peers to discover your nodes and connect to it.
Before upgrading, make sure that you have the lastest backup of your wallet.dat file.
If you are not doing anything other than staking and receiving coins to the same address, then you probably don't need to create additional backups.
You can track progress in the Transactions tab.
Settings >> options >> display >> "check" display coin control features(experts only) >> apply;
Send >> inputs >> "check" the address you would like to send from.
Mobile: PayBLK on Google Play
Bootstrap: 5 December 2015
Using the bootstrap: Start the client with the loadblock method:
Windows: blackcoin-qt.exe -loadblock=C:..\bootstrap.dat
Linux: ./blackcoin-qt -loadblock=/home/../bootstrap.dat
In bottom left of the wallet, it will say "Importing blocks..."