Elacoin (ELC) is a highly rewarding cryptographic currency. Based on the scrypt hashing algorithm, this crypto-currency operates on a peer-to-peer network and showcases a few innovative modifications. Elacoin is recently hailed as the “the crypto-currency for everyone,” as it boasts of unique characteristics that you won’t find elsewhere. It features an elastic block reward algorithm, stability, and ultra-fast transaction confirmations.
With the Elacoin wallet readily available, you will instantly be introduced to a more convenient way of monitoring your balance, trading ELC, and mining more coins. All you have to do is download and install the wallet client in your computer. Once the wallet is configured, you can now begin using ELC and make quick transactions online. Aside from that, you can instantly load your wallet with free coins when you make the most of the available Elacoin faucet. Take advantage of these faucets so you will have a first-hand experience in utilizing this amazing cryptocoin.
The total number of coins to be generated has not been specified as of this present time. However, one of the major key points of Elacoin mining is that it features a “flexible” block reward algorithm; wherein the more computational power you use, the more coins each block will give. The reward is halved every nine months to preserve the coin’s value.
Moreover, you will be treated to a more stable Elacoin difficulty; hence, you can expect to collect more coins on a regular basis without experiencing too much fluctuation. Elacoin (ELC) prides itself as “a stable currency that regulates itself through supply and demand.” Given this fact, it doesn’t matter whether this crypto-currency has lesser or higher demand/supply as it still offers the same value. And with a number of Elacoin mining pools available online, you will definitely have an easier time finding the pool that suits your needs.
Should you wish to find out how much you can earn over time, simply use an Elacoin calculator. This simple yet cutting-edge tool allows you to have an estimate of your expected earnings hourly, daily, weekly, monthly, and even annually. Just provide the figures of difficulty, exchange rate, hash rate, power costs, and block reward among many others to measure the amount of coins you can collect.
Elacoin (ELC) has been listed in Coins-E and Cryptsy exchanges, and it appears on the charts that the Elacoin price/value is weak when pitted against a more stable crypto-currency like Bitcoin. ELC has been experiencing high fluctuations ever since, making its exchange rate and trade volume highly unstable. Although its exchange rate is relatively unstable, there’s a better future ahead for its users and miners.