Cryptocurrency

Novacoin (NVC), Its Basics And Its Features

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The Basics of Novacoin (NVC)

What is unique about this coin? Well, let us start from scratch. We all are we aware of the crypto coins like Bitcoin and Ethereum. These crypto coins along with other known altcoins either use the Proof of Work (PoW) or the Proof of Stake (PoW) consensus mechanism for their network or blockchain platform. But, Novacoin is unique in this case, as it uses a blend or a hybrid of these two consensus mechanisms in order to enhance its blockchain technology lead to an advanced cryptocurrency which is technically superior too.

Novacoin was introduced in the market on 9th February 2014. It was a fork of Peercoin (which is also known as PPC). This coin is one of the first altcoins which used a blend of PoW and PoS mechanism.

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Here are a few advantages of having Novacoins

First and foremost is the hybrid of PoW and PoS. No other altcoin has it. This makes NVC less resource heavy than others, plus its security quotient is higher, and vulnerability is lesser.

In the case of NVC, the reward-per-block for PoS and PoW is dynamic.

Considering the structure and layout of the blockchain, it can be understood that there is no hard limit on the generation of a number of NVC coins. The 2 billion units limit put on NVC is to make coding easier, nothing else.

The script-based implementation means it cannot be being influenced by mining farms, and it enables individual CPU or GPU miners to take part in the market as well.

One can buy NVC coins on multiple crypto exchanges like YoBit, WEX, and Livecoin, along with Cryptopia, and CoinEX. Out of all these exchanges, WEX is the largest one, by volume. Unlike most of the other coins, one can buy Novacoin against fiat money. Plus, one can mine these coins too.

Why should one invest in this crypto?

Novacoin is unique in its own way and has some features which are exclusively held by it only. Plus the coin has a market capitalization of 2 million coins. Its ASIC-resistant is most certainly democratic in nature. We all know that the crypto market is uncertain, but Novacoin is something we all can pay attention to and give a try too.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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