Proof of Stake (PoS) algorithm is used to state miners & validate a number of transaction blocks. It is based on the coins held by each miner and the coin age.
the question is ...
Why Proof of Stake?
Bitcoin with its proof of work algorithm consumed around 64.49 TWh electricity in a year.
That enormous amount of energy is enough to power more than 5 million households in United States or even the entire country of New Zealand.
Future technology has to be Eco-Friendly for sustainable development.
Let's saves this planet for the future generations!
Proof of Stake comes as an alternative consensus algorithm which uses a lot less energy.
Proof of Stake (PoS) gives mining power based on the percentage of coins that miner held. It doesn't require a huge resources, so it will be more efficient and eco-friendly.
Proof of Stake block is also faster in generating new coins and validating the transactions compared to the Proof of Work.
SPLASHCOIN owns 2 billions of premined coins and we will use that premine to fill the market needs.
Average blocks will be generated every 30 seconds. The coin is considered valid and can be used for transaction when it reached 10 blocks. For staking, it must reach 510 blocks to be acknowledged as mature coin.
Miners have an opportunity to earn up to 24% profit per year. It is gained from the mining results which keeps going for a year. It will vary depending on each miner's balance and the coin age.
Interested to take part of the SPLASHCOIN's growth?