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 the 16th of February 2014. And on the 21st of 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[edit]
Pandacoins are traded for bitcoins and other cryptocurrencies, mostly on online exchanges.
Addresses[edit]
Payments in the Pandacoin network are made to addresses, they are based on digital signatures. The addresses are strings of 34 letters and numers which always begin with the letter P.
Confirmations[edit]
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[edit]
Proof-of-stake[edit]
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[edit]
In 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[edit]
Pandacoin is designed so that it will experience a steady 2,5% inflation per year,[1] yielding an unlimited number of coins.
Money supply[edit]
There were 32 billion Pandacoins mined as of May 21, 2014.[6]
See also[edit]
 |
Wikimedia Commons has media related to Pandacoin. |
Others articles of the Topic Cryptography : Public-key cryptography
References[edit]
- ↑ 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[edit]
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