Condensate is a blockchain network that allows for the creation of a decentralized transaction system that does not involve any third party. Condensat
Condensate is a blockchain network that allows for the creation of a decentralized transaction system that does not involve any third party. Condensate enables customers to make fast and secure payments remaining fully anonymous. The platform has its own cryptocurrency called Rain which can be either purchased or mined. Condensate aims to create a robust network that benefits both the Rain community and the Earth. The platform’s main goal is to donate the generated revenue to the development of scientific research about the environment and its protection.
The Rain coin was introduced in the beginning of May 2017 by a team that has not been publicly announced. Condensate is a relatively recent start-up and that is why it is still being improved by its developers. The planned total coin supply is 500 million which is a huge amount in comparison with other cryptocurrencies. Condensate uses a dual Proof-of-Stake and Proof-of-Work algorithm. This enables people to choose whether they want to mine the coin with their computing power or by keeping their wallet open and staking the coin. Owners of general purpose computers are the only ones that can get involved in the mining of Rain.
Condensate runs on the X11 algorithm which is a much more improved algorithm than SHA-256 (Bitcoin) or Scrypt (Litecoin). X11’s name derives from the fact that the algorithm is composed of a chain of 11 different algorithms. That makes X11 perfectly suitable for CPU and GPU mining and at the same time ASIC-resistant. Application-Specific Integrated Circuit is a specialised mining hardware which is much faster than a regular computer’ s Central Processing Unit or Graphical Processing Unit. Miners in possession of an ASIC can mine much more productively which results in an unequally distributed mining power. When power is concentrated in few people the whole network becomes more centralised and the blockchain is no longer fully distributed. Condensate’s X11 algorithm completely eliminates that possibility.
Rain can be mined on numerous mining pools some of them being Suprnova, Neonpool, Minertopia and many more. Online wallets are available for the three main operating systems – Windows, Mac OS and Linux. The coin can also be purchased or traded on some of the largest exchange markets – Coinexchage, Cryptopia and NovaExchange. The price of Rain is sometimes very volatile so research before buying or selling it is recommendable. Having this basic info in hand is enough to start using Condensate, to become a member of its community and eventually contribute to the development of scientific research.