Ethereum: What is Maxcoin? [closed]

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Ethereum: What is Maxcoin?

Maxcoin is an open-source decentralized cryptocurrency that uses Ethereum blockchain. It allows developers to create and distribute intelligent contracts, which are self-executing contracts with predefined rules.

How does Maxcoin compare himself to previous cryptocurrencies?

Unlike Bitcoin or other centralized cryptocurrencies, Maxcoin does not use a single entity to control transactions. Instead, it relies on the decentralized network of nodes that make up the Ethereum blockchain to check and record transactions. This ensures that all transactions are secure, transparent and unexpected.

What hash algorithm does it use?

Maxcoin uses the SHA-256 hash algorithm, which is considered to be one of the most secure hash algorithms. This means that maxcoin transactions are practically non -hackable and resistant to quantum computer attacks.

What award calendar has been announced?

The Maxcoin network rewards its users with a block reward of 4 ETH by block, as well as transaction costs of 1 ETH by transaction. The block award should increase by 100% every two years, while transaction costs will also increase 2% each year.

Does this solve any problem that Bitcoin or another previous cryptocurrency?

Maxcoin addresses several problems associated with other cryptocurrencies, such as:

* Energy consumption : The use by maxcoin of Ethereum blockchain reduces energy consumption compared to traditional work proof networks (POW).

* Transaction speed : Maxcoin can treat transactions in real time, which makes it faster than some other cryptocurrencies.

* Functionality of the intelligent contract : Maxcoin allows developers to create complex intelligent contracts which are self-executing and decentralized.

However, like any new cryptocurrency, Maxcoin is not without challenges. The decentralized nature of the network means that it can be more difficult to establish confidence with users who do not know blockchain technology. In addition, network safety is based on the robustness of the Ethereum blockchain itself.

Overall, Maxcoin offers a unique combination of decentralization, safety and intelligent contract functionalities which distinguishes it from other cryptocurrencies. Although he can face challenges in the future, his potential as a new player in cryptocurrency space is undeniable.