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What is cryptocurrency Novacoin

Today we decided to write an article about cryptocurrency old-timer – Novacoin. Cryptocurrency Novacoin is another new fork of Bitcoin, which we have already written about on our blog. You probably already understand that the cryptocurrency which have appeared as a result of fork Bitcoin, little than it differs from it. The most popular difference of all forks ball, is protection from ASIC mining. The Novacoin network assumes complete anonymity of transactions and data about the owners of funds. This is all secured, thanks to one rank structure and decentralization.

Technical features of cryptocurrency Novacoin

Official website – novacoin.org;

Year of creation – 2012;

Number of coins – 2 billion;

Trade name – NVC;

Encryption algorithm – Scrypt;

Protection method – Proof of Work/Proof of Stake;

Capitalization – $10 087 095;

The cost of the coin is $5.33.

Advantages and disadvantages of cryptocurrency Novacoin

Cryptocurrency Novacoin, as well as any human creation has its pros and cons.

To the pros of Novacoin can be attributed hybrid protection model, which makes Novacoin resistant to attacks. The second advantage is the anonymity of your data and committed transactions.

The disadvantages of Novacoin include its costly mining, for which a conventional personal computer is not enough. One big minus cryptocurrency Novacoin is its unpopularity among cryptocurrency community and quite high price, because capitalization in 10 million dollars reach projects that only hold ICO, and Novacoin exists for about 5 years.

However, such unpopularity of Novacoin, acts for it another advantage in the form of fast transactions, it is connected with non-overloading network.

Where to buy cryptocurrency Novacoin

As of the 10.11.2017 of the year, cryptocurrency Novacoin is trading on several popular exchanges: WEX (formerly BTC-E),LivecoinYoBit, Cryptopia and others. The Coinomi, wallet, also supports this digital currency.

Ways of earning cryptocurrency Novacoin

You can earn cryptocurrency Novacoin in two ways:

  • Mining;
  • Purchase through exchanges.

For mining cryptocurrency Novacoin, you need to purchase special equipment; by the way, if you are interested in the most suitable for mining video card, read this article, we have made a good selection.

To buy Novacoin through the exchange, you need to create an account on one of the stock exchange supporting Novacoin, their list you can see on the site Coinmarketcap in the Markets section. In addition, to use the purchase order cryptocurrency Novacoin for the funds that you will have on your account.

Prospects cryptocurrency Novacoin

Let’s say honestly about prospects Novacoin. Editorial staff of the blog bitbetnews, does not consider this cryptocurrency promising, because now there are many projects that can solve the existing problems of business and the world in general. Cryptocurrency Novacoin has absolutely no innovations that could attract attention to it now. Increase the value of the coin and the capitalization of the project, can only news about the partnership with some well-known companies, but so far, what about such, we have not heard.

Conclusion

In 2012, i.e. in the year of appearance of fork Bitcoin under the name Novacoin, the market of cryptocurrency was not so saturated with various projects, therefore Novacoin had a certain share of the market. Now, it is quite lost its position due to the passivity of its team, which recently does not bring anything new to its project. For us cryptocurrency Novacoin has already died, but we will be glad if we make mistakes in our conclusions. On this all dear friends, before you close the page, do not forget about our request at the beginning of the article, and write in the comments as you review cryptocurrency Novacoin.

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