CRYPTOCURRENCY BLACKCOIN

Nadezhda Zakharova 02/12/2018

Just a decade ago, hardly anyone had heard of cryptocurrency, and no one imagined that only 5-6 years would pass and digital currencies would become part of the global economic community.

The first cryptocurrencies gave a chance for the development of altcoins, among which Blackcoin occupies a special place, which has taken its rightful place among all known digital assets.

The history of Blackcoin

The literal translation of Blackcoin from English is a “black coin” that has its own peer-to-peer electronic payment system.

Like the mainstream market leader Bitcoin, the BLK cryptocurrency has an open and decentralized ledger based on the blockchain.

The currency has an open access code that is available to almost any of you when making a transaction online. The main management protocol is based on the principle of POS or proof of stake, based on a more accurate translation from English Proof-of-Stake.

From its inception until today, the currency has been in the top 20 leaders in terms of total fund capitalization.

The progenitor of Blackcoin faucets is a native of Russia, Pavel Vasin, who was the first to publish his work under a fictitious name in one of the online magazines; his name then appeared as Rat4.

Even then, Vasin set a priority task: the mining principle would work exclusively using PoS technology.

The release of cryptocoins was not unlimited, so the Blackcoin rate rose to high positions almost from a startup and has not been released to this day.

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BlackCoin

You can think of BlackCoin (BLK) as the people's bank, where your account cannot be frozen and is completely and always free, anonymous and much more secure than a traditional bank account, while payments can be sent to anyone, anywhere in the world in a matter of seconds.

Rate as of 08/14/2020

• Rate:
  0.041633 USD
• Symbol:
  BLK
• Rating (CMC):
  840

Algorithm

Anyone can create an account by simply downloading the software. This bank has no owners and cannot be closed. Because it is peer-to-peer, it is characterized by complete transparency. The supply of coins is limited, which ensures their value and makes them an excellent store of value, like gold. New coins can only be generated by the network with an interest rate of 1%. Each account generates 1% APY, helping to maintain network security.

Blackcoin achievements

• Blackcoin became the first coin to fully switch to Proof of Stake.
• It is also the world's first coin to have working smart contracts.
• In early 2014, Blackcoin became the first coin to combine PoS with multipool. It became so powerful that it received the nickname "Blackhole".
• Blackcoin became the first coin to crowdfund and hire advertising/PR agency Max Bourges!
• Blackcoin is known for its outstanding community. Everyone here is a star. Community members work tirelessly to ensure the coin remains one of action, not words. This is one of the most active communities after the Dogecoin community.

Did you know that this cryptocurrency is considered a commodity in the United States? This means you get incredible tax benefits! Plus, most countries don't tax it at all. Many people believe that smart contracts are the future! It's like the birth of the Internet.

Future with Blackcoin

The ability to manage transactions and the issuance of additional Blackcoin coins is entirely within the control of the network of users using Blackcoin.

That is, YOU are a banker. The Blackcoin network is powered by human holders of Blackcoin, who earn 1% interest annually through a process called “staking.”

BlackCoin is also open source, which means that the software that makes it work is completely open to public scrutiny, giving you peace of mind.

No one owns BlackCoin, it is not just one organization; anyone can be a part of it. The history of the bank is called "blockchain". This story is shared among everyone. So when you download the program, you save a copy of the story and share it!

In addition, you "stake" while the software remains running and ensures that the bank's history is safe. Thus, it cannot be faked. Your account is a set of keys. You can use these keys to sign transactions and even contracts! No one else in the world has the same set of keys, only you. Therefore, your digital signature cannot be forged. Thanks to the brilliant combination of digital signatures and torrents, this cryptocurrency is becoming increasingly popular.

Features of the Blackcoin cryptocurrency exchange rate

The official date of birth of BLK is the second ten days of February 2014. Blackcoin is a fork of NovaCoin.

The developers of the crypto asset claim that they were the innovators who introduced Proof of Work (PoW), but a little later they were forced to switch to the PoS platform, this allowed holders of the crypto asset who used the updated version of the 3.0 algorithm to receive high dividends, with the amount set from 1% up to 8%.

• Official resource - blackcoin.co;
• Date of origin: February 2014;
• Protection algorithm - PoS;
• Working marker - BLK;
• The price on the crypto market - the maximum was $1.15 in January 2018;
• The maximum possible emission is 75,000,000 BLK + additionally receive dividends on PoS.

You can check the BLC transaction at https://chainz.cryptoid.info/blk/.

Note that it was in January 2020 that the maximum capitalization of the BLK cryptocurrency was recorded, which reached almost $90,000,000. Currently, against the backdrop of a wave of crypto-crisis, the value of the currency has fallen, but still, if we take into account the average annual indicators for 2020, the BLK rate will be high ( on February 12, 2020, the rate was $0.32).

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Blackcoin is a promising cryptocurrency of our time

Blackcoin is . It is a peer-to-peer digital currency, somewhat reminiscent of a people's bank. The account you open cannot be frozen. It is absolutely free and anonymous, and in terms of security it is not inferior to a traditional bank. Blackcoin has a specific reserve of currency, due to which it is valuable, and, among other things, it owns a good reserve of material assets, for example, gold.

From 1% per annum a new currency is generated. This percentage is generated on the accounts of each user, thanks to which the system remains protected.

Blackcoin begins its existence with a Proof of Work system for the creation of the first few thousand blocks, and after that it plans to completely switch to Proof of Stake.

Blocks generate ten thousand coins, and blocks are created every minute. Blackcoin is one of those rare cases where the block reward does not decrease either over time or as the amount of coins available grows.

When the total number of blocks reaches 10,000, the rewards from constant mining will no longer be available, instead PoS blocks will begin to be generated.

In itself, the 1% reward for a year of using Blackcoin is a small bonus, but it takes eight hours to create PoS blocks, which is quite a bit when compared to other cryptocurrencies.

Advantages of Blackcoin cryptocurrency

One of the main achievements of this cryptocurrency is that it is the first currency with full proof of stake.

Everyone who has a Blackcoin wallet will receive up to 5% per annum.

The next major advantage is anonymity. Anyone who wants to can create a Blackcoin account. At the same time, the banking history remains completely transparent, since it is shared by all users.

Money transfers are carried out very quickly, thanks to this, anyone can receive money within a few seconds.

There are no mining computers that require a lot of energy. Due to this, cryptocurrency is environmentally friendly.

Safety. Blackcoin wallet is open source, which means you can rest assured that it is secure.

Unusual Blakcoin mining

Blackcoin cannot be created through mining because it is based on Proof of Stake. Thanks to this, the cryptocurrency cannot depreciate, because it uses its own multipool. It links together the hardware hashing capabilities of members of the Blackcoin community in order to mine other digital currencies. After that, altcoins are converted into Bitcoin through exchange, and it is for this that Blackcoin coins are subsequently purchased and paid to participants.

Where and at what price can you buy Blakcoin

Blakcoin can be purchased on two major cryptocurrency exchanges, LiveCoin and Poloniex.

At the moment, the course looks like this:

One Russian ruble is equal to 5.64 Blakcoin.

One US Dollar is equal to 320.76 Blakcoin.

How to create a Blackcoin wallet

In order for you to be able to work with this cryptocurrency, you need to register a Blackcoin wallet . To do this, you can use the services of the site https://holytransaction.com. When you go to it, you will see a button called “create Blackcoin wallet “. The registration process takes place in Russian, and it is absolutely free.

Also in this wallet it will be possible to exchange one cryptocurrency for another.

Because Blackcoin is a decentralized system, there is no main bank or government entity on its network that can influence the production and value of the digital currency. There is also no single center where information about transactions made and wallet balances could be stored. Thanks to this, it is impossible to destroy or change this information. The creation and further existence of Blackcoin coins can be controlled exclusively by the owners of the Blackcoin wallet . Each user has the opportunity to create several such wallets, because it is almost impossible to determine their owner. The wallet is created anonymously, without specifying the user’s personal data. Any monetary movements occur using wallet addresses consisting of an alphanumeric series, so you remain anonymous when making payments or exchanging Blackcoin for other cryptocurrencies.

When you transfer money from a Blackcoin wallet , a small fee may apply. Its amount is significantly less than the commission amount in the case of carrying out similar operations using the traditional banking system.

Conclusion

Blackcoin is among the top ten cryptocurrencies and has many striking advantages. Much of the currency's fame lies in its outstanding community. Many people worked hard for its successful development. Blackcoin is also the first currency that was able to raise money through crowdfunding, and it was also the first to work with smart contacts.

Before us is a promising and reliable cryptocurrency that can definitely be dealt with.

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Pros and cons of cryptocurrency

Positive points:

• The platform implements a PoS algorithm, which allows you to receive dividends even with a slight or serious drop in the currency. According to the official website, the minimum dividend threshold is 1%, the maximum is up to 8%;
• The total transaction time takes about 64 seconds, this is the lowest among all major cryptocurrencies in the world;
• Users can access the multipool, which in turn allows them to mine other crypto assets and use them to buy and sell BLK;
• Complete anonymity on the network and high decentralization of the platform;
• There are platforms for implementing smart contracts.

There are few negative aspects of cryptocurrency, the main drawback is the lack or poor coverage of information, that is, PR advertising is quite low. At the same time, there are good attempts to develop their community on the network, and now their own social structure is gaining momentum, which has become the second most important after Dogecoin.

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Features of Blackcoin mining

The official website of Blackcoin is https://www.blackcoin.co. The site will provide extensive information about cryptocurrency, mining methods, and also talk about the technical characteristics of the crypto coin.

Mining is now only PoS - that is, miners find a block by holding coins in wallets.

PoW mining pools have closed, so now you just need to buy cryptocurrency and send it to your wallet.

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BLK YER chart - blackcoin Yemeni rial online course, price 24/7 • Charts® In Trend™

BlackCoin has seen initial success due to its innovative features. The coin has incorporated bitcoin upgrades to reduce transaction risk. The coin initially uses proof of work as well as proof of stake, with the proof of work being dropped after the th block.

The advantages of Blackcoins proof of stake is that it has extremely fast transaction confirmation times at ten seconds — compared to bitcoins ten minutes plus. The other bonus is the low energy consumption without PoW mining. This site uses cookies. By continuing to browse the site, you agree to the use of cookies Read more Accept. Over the last hour, the BlackCoin cryptocurrency has lost 4 in value.

The number of issued BlackCoin cryptocurrency coins is currently 76 coins. Subscription request completed successfully! A message has been sent to you by email confirming your successful subscription to the news and registration on the site. The email contains a link that you need to follow to activate your account and subscription. To convert BlackCoin cryptocurrency into US dollars, euros, rubles or hryvnia, use our online calculator.

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How to create a Blackcoin wallet

In order to install a wallet, you must:

• Go to the official website.
• Click the button to download Download.

• You will see a list where you need to click on Original QT Wallet, in accordance with your working operating system.
• For Windows, for example, the Windows VER.1.2.4 platform is suitable (then we download Original QT Wallet VER.1.2.4). Please pay attention to your operating system for downloading.
• We carry out all the installation steps.
• Installation is simple, much like installing programs for games.
• Let's put the wallet to work.

Attention! Once the download is complete, you must wait for full synchronization with the working network so that the wallet can process all blocks. Synchronization time can take quite a long time.

The following items will be available in the wallet menu:

• Review. You can see your balance, as well as confirmed and unconfirmed transactions;
• Receipt. Here you can see the addresses of recipients and senders, as well as your own wallet address;
• Dispatch. On this tab, all actions to send a transaction are performed;
• Transactions. All transactions are visible in this tab; you can manage the transaction window at your discretion.

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BLK rate:

Where and how to buy BLK

You can buy or sell the blackcoin crypto coin on almost all leading crypto platforms, in particular, we recommend paying attention to Bittrex, Poloniex - the largest volumes, as well as the Livecoin platform.

The presence of large crypto exchanges in the listing is the main victory of the coin, but besides this, you can use other platforms, for example, the same exchanger Kryptonator, where there are all the necessary and available options for managing the receipt of BLK.

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Expert opinion

Most experts believe that BLK will continue to hold steady despite the sharp spike and then drop in value in 2017-2018. At the dawn of creation, Pavel Vasin said prophetic words:

“We achieved success through innovative approaches to the crypto asset in 2014. We were the first to understand that modernization of the main currency Bitcoin was necessary, and in practice we showed that by modernizing the old, we strengthen the foundations of the crypto industry. We managed to reduce transaction time from 10 minutes to 1 minute, which is a small but significant record. We were able to achieve low power consumption by abandoning BLK from PoW almost immediately after introducing BLK. Additionally, we provide incentives with dividends of 1%, but there are other options for receiving high commissions of up to 8%.”

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Strengths and weaknesses of the Blackcoin cryptocurrency

The described digital money has a huge number of advantages, which should be discussed in more detail. Despite the fact that Blackcoin cannot boast of any features that fundamentally distinguish them from other digital money, these coins are an excellent option for generating income from mining, as well as a promising investment tool.

Among the main advantages that this digital money has, the following deserve special attention:

1. The system operates using the Proof-of-Stake protocol, which allows you to count on a certain income from the coins in your wallet. If you have a certain number of coins in your wallet, you can make a profit of 1% per annum. This income is small, but you don't have to do anything to receive it.
2. Efficiency of transactions. The maximum time required to confirm a completed transaction does not exceed 64 seconds. It is this feature that allowed Blackcoin to receive the honorary title of the fastest-operating digital money. It should be remembered that there are a number of digital coins with higher transaction speeds, but these digital money have very low prices and are not particularly popular.

Like any other cryptocurrency, Blackcoin also has some weaknesses. The main disadvantage of this digital money is its low prices against the US dollar. At the current time, they give only $0.184 for one coin. In addition, quotes continue to decline. The main reason for this state of affairs is that the creators of the coins do not carry out any campaigns to popularize this digital money among users.

Forecasts and prospects

Many experts believe that even in the wake of the 2018 crypto crisis, the BLK rate will remain stable and will not go into sharp decline.

Now the most important thing is to wait for the right situation to level out the situation, and everything else is available in the cryptocurrency arsenal, in particular, good dividends, which, against the backdrop of the crisis, give confidence that stability will remain a priority for the crypto coin in the future.

its first peak of growth at the formation stage - in 2014.

The second wave of growth came in May-June 2017, the third in December 2017-January 2020. If you analyze each wave of growth, you will notice that the growth was short-term, and the value of the asset again returned to its stable levels. Exactly the same trend can be noticed now, after the third rise, the Blackcoin rate remains at the same stable level as after 2014, even a little higher.

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