announcements about netcoin

Proof of work has ended

Proof of Work has ended and Netcoin is now Proof of Stake only. Block 2500000 was the last block for POW and was found on iSpace pool

Its been fun mining Netcoin all the years and if we can remember this is not the first time POW has ended. We had turned it back on with input from the community and made it the flat 15 coin block reward, minus the random superblocks. We felt it was a good idea as POW miners were low and it was even profitable again to mine it at that low difficulty and in the altcoin boom we needed the network support.

As time and technology move forward those low difficulty blocks had soon run short and we seen some of the highest hashrates for netcoin proof of work. It would seem we had brought back the users and more and more started to look into POS and so it would be Netcoin has one of the best staking models and we find we no longer need POW.

 

 

 

NETCOIN: Addition to TradeSatoshi

Netcoin has some great news guys.  You will now be able to buy/sell/trade your NET on another crypto-currency exchange: TradeSatoshi.com

 

https://tradesatoshi.com/Exchange/?market=NET_BTC

https://tradesatoshi.com/Exchange/?market=NET_LTC

https://tradesatoshi.com/Exchange/?market=NET_DOGE

This comes at a wonderful time in NET’s lifecycle:  NET’s PIR (minting rewards) are at its lowest point, which is driving demand up!!

Netcoin Exchange Mania: NET on more exchanges

Screen Shot 2016-01-11 at 8.08.55 AM

 

Earlier this week we announced the addition of Netcoin to the cryptocurrency exchange Bittrex.  Now, you can trade, arb, and use NET on another exchange: BTCPool.

This new addition of yet another exchange continues to open doors for the NET community to be able to use and implement the coin across the globe.

Stay posted as NET continues to work to advance it’s usefulness to the community!

 

Netcoin: Minting / Stake Rewards Block Change coming soon!

Hey all,

As you know (or perhaps don’t know, and are reading this for the first time), we are approaching the 945,600 block for Netcoin.  What that means,is we will be entering the new phase/year of stake rewards.  For those with < 1 million NET, you’ll see your minting rewards % increase.  Those with > 1 million, your minting rewards decrease (but remember, you’ve had all year to take advantage of the higher PIR rates).

These changes were implemented over a year ago after input from the community.  As a quick reminder for some of the folks who are newer to NET (and to minting/staking) you can read the white papers here:

http://netcoin.io/whitepapers/

The PIR change occurs at block 945,600.

We are currently at (time of writing) block 913,227.

This means we have 32,373 blocks to go.

Using an average (past 500 blocks) time of 57 seconds/block, we still have approximately 512hrs left before the PIR rates change.  Simply put:

Approximately 21 days till the PIR rates change for NET!

 

Netcoin PIR Scale:

Netcoin Annual Rates. It is a sliding scale between the values displayed below.

The Timing of Years: is an estimate that depends on the speed of the blocks, which should average roughly 1 per minute.

NET Amount Year 1 (ends Jan 2016) Block # 945,600 Year 2 (ends Jan 2017) Block # 1,471,200 Year 3 (ends Jan 2018) Block #1,996,800
0 10% 20% 20%
1,000 15% 25% 22%
10,000 20% 30% 24%
100,000 30% 35% 26%
1,000,000 80% 40% 28%
10,000,000+ 100% 45% 30%

The number of Netcoins YOU stake determines the Annual interest rate that is applied to the transaction for that reward. This annual rate is then converted to a daily rate and applied to the coins based on their age.