BBQCoin

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Coin Information

Algorithm Scrypt
Proof Type PoW
Start Date 13/07/2012
Website BQCoin
Difficulty Adjustment 2016 blocks
Block Reward Reduction 50%

Source : Cryptocompare.com

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About BBQCoin

BBQcoin (BQC) is a scrypt-based crypto-currency that is derived from the Bitcoin protocol. It has a difficulty adjustment of 60 blocks, a block reward of 42 BQC, and its network will produce a total of 88 million coins in the future. Just like Bitcoin, BBQcoin is a peer-to-peer online currency that enables instant payments to anyone in the world. BQC is inspired by and technically nearly identical to Bitcoin but differs from Bitcoin in a sense that it can be efficiently mined with consumer-grade hardware.

BBQcoin Mining

First thing you need to do is get a BBQcoin wallet. Because BQC is an Internet-based currency, you need a place to store your coins. Simply download the BBQcoin client for your operating system, have it installed in your computer to get your first wallet address.

Now that you have a wallet, you are probably roaring to go. But if you actually want to earn more coins, you probably need to join a BBQcoin mining pool. A pool is a group of miners that combines their computing power to earn more coins. Participating in the mining pool gives you an opportunity to accumulate coins gradually, but steadily. The reason why you shouldn’t do mining alone is that BBQcoins are awarded in blocks, with 42 BQC at a time, and unless you get extremely lucky, you will not be getting any of those coins.

With pooled mining, you are given easier algorithms to solve and you will be paid based on your contribution. With this, you will make consistent profits and will be more likely to receive a good return on your investment.

Meanwhile, if mining isn’t your cup of tea, you can take advantage of the available BBQcoin faucet. Keep in mind, though, that these faucets have its limiting factors; such as its cooldown period and the captcha verification requirement.

Difficulty and Profitability

BBQcoin difficulty adjustment has been changed from 2016 blocks to just 60 blocks per difficulty. Moreover, BBQcoin (BQC) provides faster transaction confirmations (with 2.5 minutes on average), and uses scrypt-based proof of work scheme to target the regular computers most users already have.

To generate your earning potential while mining, you can use any BBQcoin calculator available online. You just have to provide the necessary figures including the hash rate, power cost, difficulty adjustment, exchange rate, pool fees, block reward, and hardware costs.

Exchange and Current Value

Cryptsy, Coins-E, BTer, and Phenix are some of the most popular trading markets for BBQcoin. Here you can find the BBQcoin exchange charts and rates against Bitcoin. Being a newly established crypto-currency, the BBQcoin price/value is trading weakly against the most popular crypto-currency at present. Despite its instability, BBQcoin users are taking their chances on the crypto-currency in hopes of getting huge returns on their investment.

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