Blackcoin (BLK) is a cryptocurrency that appeared after the NovaCoin hard fork. Officially, it began to function in 2014 and its creator was the Russian crypto-enthusiast Pavel Vasin, also known by the nickname Rat4.
Initially, Vasin's project was developed on a Proof-of-Work algorithm. However, after a while, they decided to transfer Blackcoin to Proof-of-Stake. Moreover, the team claimed that their cryptocurrency was the first in the world to fully implement this protocol. In addition, experts have provided the opportunity to receive remuneration for the storage of the coin. In particular, users can get from 1% to 8% per annum.
If you are interested in how to mine Blackcoin, then you should know that mining is quite unusual here. Due to the use of PoS algorithm, it is impossible to mine Blackcoin by hardware. However, the creators have developed their own multipool that combines the power of miners for the production of other coins. The result is traded on the exchanges for BTC, then the trade is exchanged to BLK, and the distribution between all miners happens. The generation of new amount of cryptocoins is carried out in the course of calculation of the remuneration for the holders.
Transaction speed. In the Blackcoin system, financial transactions take only 64 seconds.
The opportunity to receive a reward for mining other cryptocurrencies. We have mentioned this above. The miner joins the multipool, produces altcoins, and then receives a reward in BLK.
Reliable protection of personal data, it is impossible to track transactions.
High degree of decentralization.
The functionality for the implementation of smart contracts has been developed.
BlackCoin is not supported by multi-currency wallets, you can use only the official storage. To install the free Blackcoin wallet, go to the official website, select Downloads, then Original QT Wallet. Choose your OS and start downloading the installer. Once the download is complete, you need to install the wallet and run it. After the synchronization is complete, you can use the wallet.
The storage functionality includes all the necessary options. You can find all the necessary information about transactions, check the balance, find out from which addresses the coins were credited to the account. If you need to send coins, just go to the “Send” section, insert the address and click on the “Send” button.
The highest trading volume on Blackcoin is on the exchange CoinEGG. It is a Blackcoin-BTC exchange, and the total amount of financial transactions is 180 000 dollars. In total, CoinEGG accounts for 93% of all transactions. On the other crypto-exchanges, the trading volume is insignificant, and does not exceed 4500 dollars. For now, you can’t buy Blackcoin with a credit card. Still, you can always see the current Blackcoin price and value at Coinmarketcap.
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