Neocoin (NEC) is a Bitcoin-based peer-to-peer crytocurrency that aims to provide innovative and instant payment systems all over the world. Neocoin is open source and decentralized, so expect that no central authority or organizations can control this cryptocoin. In fact, Neocoin (NEC) is a cumulative effort of anyone who wishes to take part in its network.
While this alternative currency is patterned on Bitcoin, it emphasizes distinct features that make it different from the more popular cryptocurrency. These features are claimed to make Neocoin (NEC) more accessible and convenient to traders and miners.
To make the most of these features, you must first have to download the Neocoin Wallet, which is optimized to work on Windows computers. By installing this, you can begin buying, selling, and mining coins. But if you wish to load your wallet right away, you can find a Neocoin Faucet, where you can collect free coins from.
Neocoin (NEC) uses scrypt algorithm but features a hybrid of proof-of-work and proof-of-stake systems. The combination of such systems is done to address the risk of attacks brought upon by monopoly on mining share. Through this system, miners can also cut down on power consumption as it generates coins using minimal energy. In this way, Neocoin mining is energy efficient, which means you can earn more by spending less.
There will be a total of 80 million coins to be released. This is roughly four times more than the total number of Bitcoin, but it’s fewer than the coins Litecoin will produce. But miners won’t have to wait long as new blocks are generated in just less than two minutes. This just goes to show how quick the transactions are in its network-a feature Neocoin (NEC) proudly boasts of. However, miners must take note of the Neocoin Difficulty, which poses above average fluctuations, making the collection of coin rewards a little irregular. As of present, its difficulty is marked at 3.5911.
For every block successfully mined, miners will receive a block reward of 24 coins as of now. So, if you’re part of a Neocoin Mining pool, expect to earn your share from the sum of the coin rewards the pool accrues. Keep in mind that mining pools have pool fees, so always include that when you’re getting your estimated expected earnings. Use a Neocoin Calculator to make a spot-on estimate of how much you can make in a day, a week, a month, or even a year.
Neocoin (NEC) is traded in exchanges like Bter and Cryptsy against Bitcoin. Based on the Neocoin Exchange rate chart, the price has peaked but already started to head south. As of now, it’s making its way to recover in the market, which just shows the instability of the Neocoin Price/Value. Nonetheless, this cryptocoin is performing at par with most of the alternative currencies online.