Review on BlackCoin by Robiul Islam
A peer-to-peer and decentralised cryptocurrency.
The platform does not disclose the full username. The transaction via its wallet does not require personal information. Therefore, it not only provides transparency, but also confidentiality.
Proof-of-stake algorithm is a more powerful efficient protocol that does not require expensive and power-hungry mining hardware, or actually any hardware. As a result, mining hardware is no longer needed, which makes cryptocurrency even more environmentally friendly.
It has an interesting idea as a basis for the proof-of-stake algorithm, which is seeing increased acceptance in cryptocurrency.
Pros
- This is the first cryptocurrency to use the POS based protocol.
- The protocol changes the partner modifier at each interval to reduce the probability of a pre-computation attack.
- This has significantly improved the process of block timestamping.
- Provide more efficiency than previous protocols.
- User accounts have private and public keys. These keys are unique and therefore impossible to fake a digital signature. It protects the blockchain against duplication.
- It is exceptionally fast in processing transactions, which gives it an advantage over other currencies.
Cons
- Low liquidity on the exchanges.
