Review on Novacoin by Robiul Islam
An innovative, decentralised, and technologically advanced cryptocurrency.
Compared to other currencies, its biggest advantage is its hybrid consensus process that uses the power of both POS and POW based networks to create a system that is robust, secure, dynamic and resource-intensive. Authentic PoS or PoW systems are at risk by eliminating most of this hybrid approach.
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Pros
- The combination of POW and POS it is one of the first altcoins to be implemented in its blockchain network's sensitivity process. This means that its blockchain network is significantly less resource intensive and hybrid implementation compared to pure POW based systems, which is mostly vulnerable to attack by pure POW or POS systems.
- It uses the hashcash method to facilitate proof of work system. The network itself is much more secure than other pure systems.
- It is resistant to being dominated by mining firms that employs a huge array of machines specially designed for cryptocurrency mining with a specific algorithmic framework and also allows single CPU or GPU miners to participate in the market.
Cons
- It is far from the only one. The market is now flooded with such coins.
