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:

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

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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:

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.


Netcoin Added to

Netcoin is now part of another Payment Service Processor!  This is just another step along the way for Netcoin in being accepting globally.  Thank you PayServices!

” PayServices is an IT solution provider that helps people, businesses and communities manage, share and exchange documents, values, information and commitments using cutting edge dedicated secure technologies.”

PayServices POS [Point Of Sale] terminal, payment and fidelity programs management terminal (as well the PayServices fidelity card), is a new approach to the way we use POS devices.
PayServices controls the entire flow of data between the moment when a card is swiped/inserted/read to the moment the funds and/or values are settled, which allows PayServices to bring new innovative & disruptive technologies with a simplicity never met before.

Not only the PayServices POS comes built-in with innovative integrations, but it is also updated regularly to incorporate new features. The PayServices POS is capable of reading EMV bank cards, as well the European type electronic ID, and the PayServices Debit Fidelity card.

New Vision

The Credit Card and Point Of Sales Terminals industry hasn’t evolved much in the past 40 years. While in the past it was common to have different actors each playing a different role in the chain of processes, the modern technologies push us to always be even more connected and integrated with the systems that we use. The Legacy models are evolving and this is where PayServices plays an important role. PayServices is, today, able to offer both Point of Sales Terminals, control the software running on the terminal device, control the connection between the POS and the clearing house, offer clearing house services such as Merchant Services, and much more all this connected to a powerful inventory and stock management tool that centralises all in one database both your products & services sold in bricks and mortars shops and online “virtual” electronic commerce transactions.

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