Phore Coin Review
When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This review of Phore Coin consists of three chapters: origin & background, technology and pros & cons.
Origin & Background
Phore Coin offers private, secure, and fast payments. It is obtainable for both Windows and Mac applications.
The value of Phore Coin was USD 0.30 upon launch in November 2017. However, on 13 January 2018, Phore had moved up in value to USD 8.72 and become one of the top 200 cryptocurrencies in market capitalization. Furthermore, with a circulating supply of 8 million Phore, there is a total circulating supply of 13,647,677 Phore Coins (as of 1 July 2018).
Users well experienced with KryptKoin will be note that Phore Coin is an updated and rebranded version of KryptKoin. A complete one to one coin sway between KryptKoin and Phore occurred in November of 2017.
Phore is a proof of stake network offering users a Block target rate of 60 seconds. Transaction fees are 0.0001 PHR and the Minimum Staking Age is three hours. Moreover, Phore’s Block Maturity is 50, Block Reward is 7.7 PHR, and Phore’s Budget System is 0.7 PHR.
- Staking is what keeps the Phore network secure with master nodes used for immediate transactions and governance. The network requires 10,000 PHR as collateral for each master node.
- Zerocoin enables for coin mixing. Academic cryptographers called libzerocoin is taking care of security measure. Unlike Bitcoin, Phore is capable to use Zerocoin to offer guaranteed privacy with 100% undetectable exchanges.
- Phore has a 60 second block time making funds accessible for spending rapidly.
- Phore offers an entirely private option for users. Rewards to both master nodes and stakes are fair at a 60/40 split with BIP38 encryption and decryption of private keys.
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