#What is Albocoin ? Albocoin is a Peer-to-Peer Crypto Currency based on Bitcoin's open source software. Scrypt based hashing algorithm providing worldwide payment method with maximum security. Nobody owns it, the client is maintained by a community of open-source developers known as Albocoingroup and everybody can join. The difference from Bitcoin is that it can be mined with CPU and GPU offering solution for regular computers and GPUs most people already have. The Albocoin is designed to produce 1.5 billion Coins. The initial network is designed to handle the transactions in timely matter and with no delays.
- 1.5 billion coins total
- 500 Coin reward per block
- Default RPC mining port is 38991
- Block target is 5 minutes
albocoin is released under the terms of the MIT license. See COPYING for more information or see http://opensource.org/licenses/MIT.
#Who Created Albocoin ? Albocoin was created by a group of Developers and Engineers called AlbocoinGrpup. The development started on November 2013 and was finalised on February 2014.
#How Does Albocoin Work ? ALbocoin is an application that provides a personal Albocoin wallet and allow users to send and receive Albocoins. Behind the scenes, the Albocoin network is sharing a public ledger called the “block chain”. This ledger contains every transaction ever processed, allowing a user’s computer to verify the validity of each transaction. The authenticity of each transaction is protected by digital signatures corresponding to the sending addresses, allowing all users to have full control over sending Albocoins from their own Albocoin addresses. In addition, anyone can process transactions using the computing power of specialized hardware and earn a reward in Albocoins for this service. This is often called “mining”.
#Who Controls Albocoin Network ? Albocoin Network is not owned by anyone, it is controlled by Albocoin users around the World. Albocoingroup Developers work continuously on improving the security and bug fixes. All users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules.
Total of 1,500,000,000 coins
Scrypt Proof of Work