Review on BlackCoin by Victor Nnamah
Blackcoin: a good coin for fast payment.
Blackcoin is an open source peer-to-peer digital currency which allows transactions between parties without the need of a third party organization. It is a fork of Novacoin and designed based on the Bitcoin blockchain. It's a coin with a distributed and completely decentralized public ledger.
Blackcoin was designed alike as Bitcoin to use POW algorithm but later switched to POS a its consensus mechanism so it's not minable. As a coin holder, I receive rewards in form of dividends. I carryout transactions via its wallet, it does not require personal informations. I discovered its unique feature on operating on this system, it offers functionalities of which I think many other cryptocurrencies have not succeeded yet.
I also got to understand that transactions are decentralized, extremely fast and cheap from my first attempt, this transaction was within seconds. It can be purchased using fiat USD and also available on exchange platforms, I used Bitcoin in exchange for Blackcoin via Bittrex.
In conclusion, from my experience, I must confess that Blackcoin is a truly innovative digital currency and I highly recommend it.
Pros
- It is a fast payment method.
- It is completely decentralized.
- It is trustworthy.
- There are rewards for stakers.
- It is cheap to operate.
Cons
- It is not minable, as some people would like it to be.
