Pinkcoin price is $0.00002499
As of the most recent data, the price of Pinkcoin (PINK) is $ 0.00002499, with a market cap ranking of #3942. It has seen a +0.00% change in the last 24 hours and has an overall market cap of $ 11.7K. The 24-hour trading volume stands at 1.5.
Pinkcoin (PINK) is an hybrid cryptocurrency that utilizes both the Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms. It was designed with a total coin supply of 380 million coins. Notably, the Proof-of-Work phase of Pinkcoin lasted for the initial 20,000 blocks which took approximately seven days to complete. After this PoW phase, the currency switched to the PoS protocol which offers a 1% stake interest annually.
One of the unique elements of Pinkcoin is that it was launched without a pre-mine or Initial Coin Offering (ICO). However, it should be remarked that a code audit has indicated an instamine for the first 186 blocks.
The development team behind Pinkcoin prefers to remain anonymous, aiming to keep the focus on the technology and its possibilities. They are responsible for launching Pinkcoin along with its associated website getstarted.with.pink.
Pinkcoin operates on both the PoW and PoS consensus protocols. This means that it harnesses the computational power of miners (in the PoW phase) to verify transactions and create new blocks in the blockchain. After the completion of the initial 20,000 blocks, Pinkcoin switched to the PoS protocol.
In the PoS phase, new blocks are created by the coin owners who hold the currency in their wallets. The owners are incentivized with a 1% stake interest annually. This dual consensus mechanism enhances the security of the Pinkcoin network, while maintaining network decentralization.
Pinkcoin's use of a dual consensus mechanism makes it stand out among other digital currencies. The transition from PoW to PoS after 20,000 blocks offers unique benefits. This mechanism strengthens security, and ensures the fair and transparent distribution of coins.
Pinkcoin also stands out for not having any pre-mining or initial coin offering phase. This means that all Pinkcoins in circulation have been mined or staked by the community, making it truly decentralized. The team claims this approach promotes fairness, maximizes transparency, and minimizes the risk of any single party controlling a significant amount of the total coin supply.
The current circulating supply of Pinkcoin stands at 469.7M out of a total supply of 500.0M.
Pinkcoin (PINK) can be bought on the SouthXchange, Bittrex. It's recommended to always use reputable marketplaces to ensure the safety of transactions. Be mindful that due diligence is always necessary while diving into the world of digital currency.
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