With cryptocurrencies gaining more popularity, there are new ones that emerge on the financial market. The Breakout Coin is one of the new cryptocurre
With cryptocurrencies gaining more popularity, there are new ones that emerge on the financial market. The Breakout Coin is one of the new cryptocurrencies out there.
Like Bitcoin and other well-known cryptocurrencies, Breakout Coin uses a decentralized ledger to store transactions, meaning that no banks, governments, or other central authority controls the payment system.
The Breakout Coin has been developed for the gaming industry and created by start-up Breakout Services, Limitada.
Breakout Services Limitada is a Costa Rican limited liability company that explains its vision in the following way (source: breakoutcoin.com):
“The mission of Breakout Services, Limitada, is to promote adoption and use of the Breakout Coin cryptocurrency by vendors worldwide. Breakout Services, Limitada, will also develop infrastructure, like block explorers and mobile wallets, to facilitate the use of Breakout Coin. The Breakout Coin cryptocurrency will be traded on multiple cryptocurrency exchanges, beginning with Bittrex.”
One use case for Breakout Coin is planned by Breakout Gaming (breakoutenterprise.com), a company specializing in online gaming.
“To promote adoption of Breakout Coin, we will loan 7,000,000 BRK to Breakout Gaming in 35 monthly disbursements of 200,000 BRK each, at 0.5% yearly interest compounded quarterly.”, said the overview of Breakout Chain and Breakout Coin available at breakoutcoin.com.
How it works?
According to breakoutcoin.com, when the cryptocurrency goes live, 19.5 million Breakout Coin will go into circulation. Customers who has bought Breakout Coin in crowd sales will receive 10 million of it.
Each Breakout Coin can be divided to eight decimal places, making possible very small transactions, called “micro-transactions”. The currency symbol of Breakout Coin is “BRK”.
“Breakout Coin transactions require a small fee paid by the sender and collected by individuals who support the network by certifying transactions. These individuals run special open-source software that they download for free. In exchange for running this special software and ensuring that it stays updated, network participants can collect small transaction fees and other rewards that cover their expenses and even allow them to turn a profit. Absolutely anyone with a computer and an internet connection can download the software and participate in the network.“, explained breakoutcoin.com.
The table below presents the general specifications of Breakout Coin:
|Block Times: 5 Minutes|
Security: Proof of Work + Proof of Stake v2
Currencies: Breakout Coin, Breakout Stake, Sister Coin, Atomic, The Deck
Coinbase Maturity: 240 Blocks (20 hr)