Cryptocurrencies: 2684 / Markets: 20579 Market Cap: 24h Vol:
Genstake (GEN) Rank 623
$0.054646
Genstake (GEN) Rank 623
Website Twitter
41,295,043 GEN

Genstake (GEN)
Genstake (GEN)
GEN

Genstake (GEN) Price
$0.05

Genstake (GEN) 24h Vol
$1,074

Genstake (GEN) Market Cap
$2,256,618

Genstake (GEN) Circulating
41,295,043

Full Name
Genstake (GEN)
Symbol
GEN
Algorithm
Scrypt
BTC Price
0.00000752 BTC
BTC Market
311 BTC
BTC 24h Vol
0 BTC
Total Coins Mined
41,295,043 GEN
1h
0.15 %
24h
-4.09 %
7d
-25.29 %

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 41,295,043 GEN
Previous Total Coins Mined N/A
Net Hashes Per Second N/A
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