Pandacoin
| Pandacoin | |
|---|---|
| File:Pandacoinpnd.png Pandacoin PND | |
| Denominations | |
| Subunit | |
| 0.001 | mPND (millicoin) |
| 0.000001 | μPND (microcoin) |
| 0.00000001 | Smallest unit |
| Plural | PND, Pandacoins |
| Symbol | PND |
| Nickname | Pandacoin, PND, PNDcoin |
| Demographics | |
| Date of introduction | 16 February 2014 |
| User(s) | International |
| Issuance | |
| Central bank | None. The Pandacoin peer-to-peer network regulates and distributes through consensus in protocol. |
| Valuation | |
| Inflation | 2.5% decentralized inflation due to the proof-of-stake system.[1] |
Pandacoin (code: PND) is a cryptocurrency that uses both proof-of-stake (PoS) and proof-of-work (PoW) systems.[2]
Pandacoin was released on 16 February 2014, and on 21 May 2014, it became fully proof-of-stake (PoS).[1] This was after reaching a total of 32 billion coins[3].
Pandacoin was derived from Bitcoin, and that's why it shares much of the source code and technical implementation of Bitcoin.
Transactions
Pandacoins are traded for bitcoins and other cryptocurrencies, mostly on online exchanges.
Addresses
Payments in the Pandacoin network are made to addresses. They are based on digital signatures. The addresses are strings of 34 letters and numbers which always begin with the letter P.
Confirmations
The transactions are saved in the Pandacoin blockchain (a ledger held by most clients). New blocks are added to the blockchain every 1 minute. A transaction is usually considered complete after 10 blocks, or 10 minutes.[2]
Distinguishing features
Proof-of-stake
Pandacoin uses a proof-of-stake/proof-of-work hybrid system. Currently, the Proof-of-work phase is over and it is completely Proof-of-stake.[4]
Proof-of-work
In the distribution (PoW) phase, the coin used scrypt[5], a sequential memory-hard function requiring asymptotically more memory than an algorithm which is not memory-hard.
Steady inflation
Pandacoin is designed so that it will experience a steady 2.5% inflation per year,[1] yielding an unlimited number of coins.
Money supply
There were 32 billion Pandacoins mined as of 21 May 2014.[6]
See also
 |
Wikimedia Commons has media related to Pandacoin. |
References
- ↑ 1.0 1.1 1.2 "Pandacoin: Staking FAQ". pandacoinpnd.org. June 14, 2014. Retrieved 2014-06-22.
- ↑ 2.0 2.1 "Pandacoin: Specifications". pandacoinpnd.org. June 14, 2014. Retrieved 2014-06-22.
- ↑ "Pandacoin: Specifications". coinwik.org. June 2, 2014. Retrieved 2014-06-22.
- ↑ "Pandacoin switching to PoS". cryptoarticles.com. April 25, 2014. Retrieved 2014-06-22.
- ↑ "Pandacoin Scrypt". cryptonews.today. May 21, 2014. Retrieved 2014-06-22.
- ↑ "Pandacoin coinsupply". bitinfocharts.com. June 14, 2014. Retrieved 2014-06-22.
External links
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