Cryptocurrencies: 3583 / Markets: 24786 Market Cap: 24h Vol:
Genstake (GEN) Rank 510
$0.177835
Genstake (GEN) Rank 510
Website Twitter
48,033,039 GEN

Genstake (GEN)
Genstake (GEN)
GEN

Genstake (GEN) Price
$0.18

Genstake (GEN) 24h Vol
$54,825

Genstake (GEN) Market Cap
$8,541,938

Genstake (GEN) Circulating
48,033,039

Full Name
Genstake (GEN)
Symbol
GEN
Algorithm
Scrypt
BTC Price
0.00001512 BTC
BTC Market
726 BTC
BTC 24h Vol
5 BTC
Total Coins Mined
48,033,039 GEN
1h
0.13 %
24h
-9.64 %
7d
-13.81 %

Charts



Description

Description


Genstake is about trying something different with staking. Staking was designed originally to yield a percentage of a coinholder's total coins over time, every year, in exchange for supporting the network. Developers walk a fine line between coding high interest percentages to entice holders to stake to support the network while trying to keep the interest percentages low enough that inflation doesn't kill the coin. People have become accustomed to 'Mining Periods' of hyper inflation where the initial coinbase is established, after which mining becomes impossible and the network relies entirely on holders to stake in order to maintain the network and process transactions. 

Genstake aims to change all that. With Genstake, staking blocks doesn't give you interest on the coins you already have; staking blocks gives you a full block reward. Effectively, each of your coins becomes a little mining rig on the network, working diligently to mine you more coins. Gone are the days of 0.02 coins for staking a block. Staking a block with Genstake produces 20 Gencoins. 

Full Name Genstake (GEN)
Start Date 2015-03-06
Algorithm Scrypt
Proof Type PoW/P
Website http://genstake.com/
Twitter @Genstake
Facebook N/A
Reddit N/A
Block Number N/A
Block Time N/A
Block Reward N/A
Total Coins Mined 48,033,039 GEN
Previous Total Coins Mined N/A
Net Hashes Per Second N/A
Get Crypto Newsletter
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer