Review on BlackCoin by Abraham Jeremiah
An Efficient way to make transactions
Lower cost, higher speed, environmental friendly mining model; these are the features that speaks of the BlackCoin project. BlackCoin establishes a nature of offering what is more to the users of it's project in terms of contemplating centralization issues by miners as it uses a Proof of Stake model for protecting it's network and also in the same vein, offers the users or stakers of it's coin, a passive income source ministimically for a 1% value.
In using BlackCoin, the cost of making transactions is a very low one indeed. With as little as 0.0001 BLK, which in the value of dollars at its current rate, is a very low amount, very insignificant and that makes it a better means of making transactions feasible for less cost. The speed I experienced in making some transaction was not the same but both were done under two minutes
It has been in existence since 2014 but is quite very unpopular and it's trading activities on the exchange that holds and support it's trading is very low. It's still a better way to transact money between people, the only issues one might face is getting to cash in on the BlackCoin received
Pros
- BlackCoin Uses a Proof of Stake model which helps increases it's efficiency in transaction handling
- Using Proof of Stake model makes BlackCoin a passive income source for the stakers offering a minimum 1% yearly return
- Cost of transaction using BlackCoin is one of the lowest in the market today
Cons
- The project is very unpopular despite it's long period of time in the market
- Trading activity of the coin on the exchanges supporting it's trading is low
