StartCoin is a digital currency created to promote and support crowdfunding initiatives. The idea is that users are rewarded with StartCoins when they
StartCoin is a digital currency created to promote and support crowdfunding initiatives. The idea is that users are rewarded with StartCoins when they share and support projects.
“StartCOIN is a reward based coin which rewards users for pledging, sharing and holding StartCOIN. It encourages change for good.”, wrote startcoin.org.
How it works?
Users can buy StartCoin with UK pounds via bittylicious.com. They can also convert Bitcoin and other cryptocurrencies to StartCoin by the help of shapeshift.io. Finally, it is possible to trade Bitcoins for StartCoins at exchanges like bittrex and Justcoin, explained startcoin.org.
Every week the projects that receive the most likes and interest will be displayed on a platform named StartJoin leaderboard. “The top project will receive a StartCOIN topup. For once it pays to share!”, stated StartCoin`s founders.
Also, users are promised rewards. Users that hold more than 100 StartCoin on StartJoin will receive a free StartCoin every week, reads on startcoin.org.
Transactions take 60 second block times and 1 minute to confirm. This is over 10 times quicker than bitcoin, said startcoin.org. There are 84 million coins available and a reward of 40 coins per block, halving every 12 months.
StartCoin uses the X11 proof-of-work algorithm as well as the DigiShield retargeting algorithm. Furthermore, automatic checkpointing has been integrated to improve network security.
Apart from this, StartCoin creators say that 90% of the pre-mined coin will be donated to projects and active users of StartJoin.
As of 20 January, 2017 StartCoin has a market cap of $370,967, with an availability supply of 45,079,785 START and a total supply of 70,782,220 START, as written by coinmarketcap.com.