CHNCoin (CNC) is a crypto-currency based on Litecoin. This, however, is not just another clone. This crypto-currency boasts of its unique characteristics, which are greatly appreciated in the trading communities. Using scrypt as its proof of work scheme, CHNCoin has a total of 462.5 million coins, offers a block reward of 88 coins, and as of this moment, a total of 131,446 blocks have been solved.
This alternative crypto-currency promises attractive block rewards as miners are paid 88 coins for every block. With a current CHNCoin difficulty of 7.2167, miners are given the option to either perform solo mining or join a mining pool. If you opted for the first option, you shouldn’t worry about the profits since CNC uses the scrypt algorithm to mine. Given this fact, you’re not required to utilize costly and extremely capable hardware to mine these coins. It is based on Litecoin; hence, you can assure that you can use consumer-grade CPUs and GPUs to do CHNCoin mining.
On the other hand, if you chose the second option, you should always consider some factors like pool fees and other requirements. You can find several CHNCoin mining pools and receive ”fair and square” payouts every time a member of the pool finds a block. What’s good about pooled mining is that you can earn small yet constant amounts of CNC once your pool has successfully solved a block.
Should you wish to compute your estimated expected earnings hourly, daily, weekly, monthly, and even annually, you can use the CHNCoin calculator. By simply providing details like difficulty, hash rate, exchange rate, power costs, hardware costs, block reward, and pool fees, you will already have a ”glimpse” of how much you can earn from mining CHNCoin (CNC) in a specified time frame.
At present, CNC is traded against Bitcoin only over at Cryptsy, Bter, Coins-E, and Crypto-trade exchanges. Given certain factors like maturity in the trading markets, the CHNCoin price/value is considered weak when compared with other crypto-currencies at hand. In fact, with merely 131,446 blocks solved, its value sticks to the 0.00006714 exchange rate.
Before pushing yourself toward mining or trading CNC, it is a must to get your CHNCoin wallet first. You can download it for free from CHNCoin (CNC) websites. Once you have your own wallet, you can instantly fill it up with free coins by taking advantage of the available CHNCoin faucet online. You can use these coins so you can become familiar with this crypto-currency, or you can also make some quick transactions using CNC.