Novacoin (NVC) is a PPCoin-based cryptocurrency that uses a hybrid of the proof-of-work and proof-of-stake systems. Without any central authority, Novacoin is a peer-to-peer currency that operates within an open-source network. Moreover, Novacoin (NVC) is a fully supported and recognized cryptocoin, making it one of the well-established online currencies in the market at present.
Available for Windows, Linux, and Mac, the Novacoin Wallet provides services to a variety of platforms, which makes trading and mining Novacoins much easier and more convenient to many. Simply download your preferred Novacoin Wallet and you can instantly begin storing coins you acquire from mining or from collecting from a Novacoin Faucet without having to pay.
Novacoin mining shows a great potential for all miners, who are either mining solo or in a Novacoin Mining pool. After all, this cryptocoin uses scrypt algorithm for mining and features a combination of the proof-of-work and proof-of-stake systems.
With the addition of the proof-of-stake system, the inevitable threats from a monopoly on mining share evident in pure proof-of-work systems can be prevented. Likewise, there will be a dynamic inflation in the part of Novacoin (NVC) and transaction fees are removed, which is another factor to limit the inflation.
What’s interesting about Novacoin (NVC) is that it has no limit to the number of coins produced over time, although it has set a cap of two billion coins. Reaching this number in the future is highly unlikely, which only goes to show that there will be millions of Novacoins in the long run.
The key features of the Novacoin mining are as follows: 10-minute stake spacing, 30-minute proof-of-work spacing, and a balanced proof-of-work blocks and stakes weighting. Moreover, miners should be aware of the fact that it shares the same block time with Bitcoin but rewards much lower with only 9.38 coins per block.
Additionally, the Novacoin Difficulty adjusts every block while its difficulty is set at 357.8398 as of now. But regardless of the high difficulty rate and low block reward, miners will be treated to a more regular and steady collection of coin rewards.
If you find yourself collecting more coins from mining, then it’s best that you use a Novacoin Calculator to see your estimated expected earnings in a day, a week, a month, and a year. In this way, you can monitor if you’re reaching the targets you have set for a specific time frame.
Novacoin (NVC) is traded in a variety of exchanges like Cryptsy, Bter, BTC-e, Vircurex, and CoinEX. What’s interesting to note, though, is that it doesn’t only trade with Bitcoin but also with USD. This means that you can buy and sell NVC using fiat currencies like USD. Although the Novacoin Price/Value seems to be heading south as reflected in the exchange rate chart, it’s seen to have a stable performance in the market.