New Bitcoin Alternative CASH is Green, Fast and Yields Proof of Stake Blocks For CASH Holders

New Bitcoin Alternative CASH is Green, Fast and Yields Proof of Stake Blocks For CASH Holders

The best of both worlds, new digital currency CashCoin (CASH) confirms transactions fast and consistently, improves network security and uses less energy by combining proof of work with proof of stake. CASHrecently started trading with Bitcoin on Cryptsy, the world’s largest alt coin exchange. Its name “Cash” makes its purpose easy to understand as merchants the world over already know what cash is. This built-in name recognition will help facilitate its adoption.

Proof of work means it takes miners and computer power to mint new coins. CASH will employ this form of minting in the initial stages. Block reward will be small and variable, following Moore’s law which accurately predicts growth of computational power. Mining is incredibly energy intensive—$150,000 is used daily in the generation of Bitcoin—and as such leaves a large carbon footprint. The CASH generation program provides for the gradual phasing out of proof of work in favor of the less energy intensive, greener, proof of stake protocol.

Proof of stake means that wallets open to the network “earn” new coin simply by holding them in the first place. In return, these wallets do their part to strengthen the network and confirm transactions. Since proof of stake does not have the difficulty issues of proof of work mining, this eliminates slow confirm times due to an especially tough block—an issue common to Bitcoin and all proof of work alt coins. Additionally, proof of stake networks can be more secure and less vulnerable to the dreaded 51 percent attack than their proof of work counterparts.

Unlike many other cryptocurrencies, CashCoin does not have a specific market cap. It is designed to be scarce, but also allow for an annual inflation of one to three percent. This most closely mimics gold’s annual increase due to physical mining. CashCoin began trading on Cryptsy, the world’s largest cryptocurrency trading platform, in early February.

With its already recognized name, its presence on Cryptsy, fast and consistent transaction confirmation times, and its ingenious combination of the best of both the proof of work and proof of stake cryptocurrency models, CashCoin is ready made for retail acceptance by merchants all over the world.

To trade BTC for CASH please go to: http://cryptsy.com/

To learn more about CashCoin please go to: http://www.cash-coin.org/

CASH thread on bitcointalk: https://bitcointalk.org/index.php?topic=424421.0


Related News

JPMorgan report: Eth2 could kick-start $40B staking industry by 2025

CEO Jamie Dimon may not support crypto, but two JPMorgan analysts say proof-of-stake coin yields are attractive investments in this zero-rate environment. The launch of the energy efficient Ethereum 2.0 network will popularize the proof-of-stake consensus mechanism and make staking yields a more attractive source of income for both institutional and retail investors according to a new JPMorgan report.The authors estimate that holders of staked coins on PoS blockchains are currently generating some $9 billion in revenue annually from their staked holdings. When Ethereum completes its....

Dan Larimer talks on Delegated Proof of Stake

What is delegated proof of stake? “(DPOS) Delegated proof of stake is a new consensus algorithms that allows shareholders (or the users of the system) to have control over who is certifying the ledger. it allows us to have 10 second block times, process 10 transactions per second or more, and allows the network to scale; to have dedicated nodes that are highly efficient and specialized yet remain in control of the shareholders. We can actually have 10 second confirmation on your blocks that is more secure than bitcoin.” How is DPOS different than proof of stake or proof of work? “Proof of....

Hash Watch: 73% of Bitcoin Cash Blocks Mined With BCHN, Poloniex Launches For...

The Bitcoin Cash (BCH) upgrade is 21 days away and there’s a possibility the blockchain may bifurcate on November 15. On Sunday, October 25, statistics show that 731 out of the last 1,000 blocks have been mined using the BCHN full node software. Bitcoin Cash proponents are patiently waiting for the next BCH upgrade that’s roughly three weeks away. News.Bitcoin.com reported on September 1, that due to the contentious Infrastructure Funding Proposal added to Bitcoin ABC’s codebase, the network may split. 23 days later our newsdesk explained around 61% of the blocks mined....

Transaction Rights: The Necessary Product of Block Chaining

Peercoin was the first Bitcoin-based monetary system to use proof-of-stake as a mechanism to ensure its own integrity. However, there are some objections to Peercoin's proof-of-stake model. This article presents those objections along with a similar system redesigned to address them. In a simplified version of Peercoin's proof-of-stake design, each node can use part of its balance as a stake allowing it to chain blocks. The bigger that stake, the more chances this node has of increasing the block chain. The reward for chaining blocks is 1% of the used stake as newly minted coins, annually.....

Bitcoin to Play a Key Role in Denmark’s Cash-Free Economy?

Our society is evolving into a cashless economic infrastructure. Several European countries are trying to discourage people from using cash in order to pay for goods and services. That seems only normal, as cash transactions are a hassle when dealing with change amounts. The list of downsides when dealing with cash transactions is rather lengthy, and if Danish government has any say in the matter, Denmark will become completely cash-free in the near future. Cash Offers More Disadvantages Compared to any Other Payment Option. It is hard to imagine that cash will no longer be a part of daily....