Think of it like a peoples bank. Your accounts cant be frozen, it is completely and always free, it is anonymous, much more secure than traditional banking and payments can be sent to anyone in the world within seconds.
Anyone can create an account just by downloading the software. This bank has no owners and cannot be shut down. Because it is peer to peer, it is completely transparent. There is a limited supply of coins making it valuable and a great store of wealth like gold. New coins can only be generated by the networks 1% interest rate. Everyones account generates 1% interest per year to help keep the system secure.
So welcome to the future of currency!
Safe, fast, secure, anonymous, exciting and most of all fun!
Here are some other accomplishments or honorable mentions:
-Blackcoin was the first coin to go full proof of stake.
-It is also the worlds first coin to have working smart contracts.
-In early 2014 Blackcoin was the first coin to combine POS with a multipool. It was so powerful it was nicknamed the “Blackhole”.
-Blackcoin was the first coin to crowdfund and hire an advertising/PR agency Max Bourges!
-Blackcoin is known for having an outstanding community. Everyone is a star here at Blackcoin. They have all worked tirelessly to make this coin one of actions instead of words. It is one of the most active communities next to Dogecoin.
HOW DOES IT WORK?
Did you know that in the United States that cryptocurrency is considered a commodity? So this means you get incredible tax breaks! Also many countries do not even tax it. Many people think smart contracts are the future! This is like the dawn of the internet.
Money will never be the same again. So how does this work?
The ability to manage transactions and issue additional BlackCoins is all handled by the network of users utilizing BlackCoin.
So this means YOU are the banker. Because the BlackCoin network is run by the people, holders of BlackCoin, who receive a 1% yearly interest through a process called staking.
BlackCoin is open-source too, meaning that the software that makes it function is completely available for public scrutiny giving you peace of mind. No one owns BlackCoin, it is not a single entity; anyone can be a part of it. The bank history is also called a “Blockchain”. This history is shared by everyone. So when you download the program you save a copy of the history and share it! In addition you will stake while the software is running and make sure the bank history is secure. So it is impossible to counterfeit. Your account is a collection of keys. You can use those keys to sign transactions and evencontracts! Nobody else in the world has a copy of those keys, only you. So it is impossible to forge your digital signature. Thanks to the brilliant combination of digital signatures and torrents, cryptocurrency has risen to popularity.
So to summarize:
–Everyone gets paid to keep the network secure
-Everyone shares the bank history, so its transparent
-The software is open source so you know its safe
–It is anonymous and anyone can open an account
–It is extremely fast, you can send money to anyone in the world within minutes
–It is and will always BE FREE.
THE ANNUAL INFLATION
It is a fixed amount of BLK due to static block reward, and a slightly less inflation rate year on year because of that.
The block time target is 64 seconds, so working that out per year (60/64 x 60) x 24 x 365 is 492750 1.5BLK block rewards in a year which is 739,125 new BLK per year roughly. As of right now, 739,125 is 0.972% of the total supply of 76,034,138BLK.
This 0.972% is distributed to only fraction of the shareholders, the ones who stake. The reward rate is above 1%, average 4-8% annual depend on time and amount of BLK staked.
That means if only 20% of coins were being actively staked, you could actually get around 5%/year for continually staking, since 80% of people (avg) weren’t staking and get nothing.
See more at: BlackCoin.co