Nengcoin
The world first mobile minable decentralized coin
A scrypt coin minable for all miners (Android/CPU/GPU/ASIC)
Current version: "v2.3.0.0-randomSpike-1.12.x".
1 minute block targets
base difficulty adjustment: every 1440 blocks
subsidy halves in 2.1m blocks (~ 2 to 4 years)
84,000,000,000 total maximum NENG
20000 NENG per block at start
Pre-mine: 1% or 840 million NENG - reserved for dev fund
allocated paid: 100 million NENG for code sharing bonus to Zpool dev
allocated used: 740 million NENG for backing WNENG (WrappedNengcoin) in 1:1 ratio, custodian at SouthXchange
dev fund balance: 0 NENG
Overview[edit]
Nengcoin (NENG) (formerly known as NewEnglandcoin) is a scrypt based decentralised cryptocurrency launched in 2018. Its founder, Hong Lu intended to be an alternative payment system to fiat currencies as well as low supply cryptocurrenices such as Bitcoin. Nengcoin features a bronze 'N' as its logo. Nengcoin is the acronym for New England Coin, the region of its launch. The supply for Nengcoin is capped at 84,000,000,000 coins. Rewards per block started at 20,000 coins and halves every 2.1 million blocks (about 2 to 4 years). As of February 2021, 10,000 coins are rewarded per block.[1] Nengcoin is one of the very few decentralised cryptocurrencies that can be mined on Android mobile.[2] As well as its dencentralised blockchain, NENG has a unique protection from a 51% attack, the difficulty will automatically reset to CPU mining levels in case of a potential 51% attack. The base difficulty adjusts every 1440 blocks with 1 block mined every minute designed for a day.
History[edit]
Created in September 3 2018, the first block was mined thus NewEnglandcoin (as it was known back then) was created. 11 days later, Nengcoin became avaliable to trade on Shorelinecrypto.
On July 15 2020, CPU mining for NewEnglandcoin was released for Android.
On November 27 2020, a soft name change was changed from NewEnglandcoin to Nengcoin to expand out from the US region.[3]
As of 12 February 2021, NENG has a market capitalization of US$87,000 with the current supply of NENG is $46 billion.
On July 21 2021, NENG successfully reached donation goal of 0.25 BTC & was listed on the SouthXChange crypto exchange.
Use and Exchanges[edit]
Very few online exchanges offer NENG trading. Shorelinecrypto offers DOGE/NENG trading.
NENG can be traded on SouthXChange and it offers DOGE/NENG, BTC/NENG and SWAPS trading.
Nengcoin is an altcoin that is used with within its community. It is a store of value crypto that could reach a wider and more diverse audience than Bitcoin and Ethereum.
References[edit]
- ↑ ShorelineCrypto (2021-02-11), ShorelineCrypto/nengcoin, retrieved 2021-02-13
- ↑ "About". nengcoin.org. Retrieved 2021-02-13.
- ↑ https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/proposal_v1.5/NENG_v1.5.x_Hardfork_Proposal.pdf
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