Blackcoin & Cryptocurrency

A soft insight about Cryptocurrency and Blackcoin ecosystem

Transcript

1. Bitcoin SHA-256 Algorithm / ~ 155£/bitcoin source: https://bitinfocharts.com/bitcoin/
2. A very sensitive ecosystem http://www.coindesk.com/news/
3. Blockchain Is a distributed data store that holds the public transactions of cryptocurrencies such as Bitcoin. It’s the basis of all cryptocurrencies. “It’s decentralise, in the sense that every node in a cryptocurrency has a complete or partial copy of the block chain. This avoids the need to have a centralised database that other systems, such as PayPal, require.”
4. Coinbase Online Wallet for your Bitcoins https://www.coinbase.com
5. ShapeShift.io Easy way of sending cryptocurrency from one coin to another.
6. Mining Pool It’s a place where people contribute their hashing power to mine a specific coin, the profits are shared between the miners and some mining pools get a 2% fee.
7. Multipool It’s an algorithm that switches between different alternative coins (Litecoin, Dogecoin to name a few) and constantly calculates which coin is at that moment the most profitable to mine. Two key factors are involved in the algorithm that calculates profitability, the block time and the price on the exchanges.
8. Proof of Work Runs a difficult algorithms to validate electronic transactions. Relies heavily on energy use.
9. Proof of Stake Achieves distributed consensus through requesting users to show ownership of a certain amount of currency.
10. Blackcoin Uses it’s own pool (Blackcoin Pool) with a multipool algorithm to mine the most profitable alternative coin and pays the miners in Blackcoin. 
 ~0.038£ / Blackcoin source: https://bitinfocharts.com/blackcoin/ http://blackcoinpool.com/
11. Blackcoin Pool
12. References Wikipedia reddit.com/r/bitcoin reddit.com/r/blackcoin reddit.com/r/dogecoin blackcoin.co blackcoinpool.com dogecoin.com https://bitinfocharts.com/