Simplicity Coin is one of a kind!
- It uses an exclusive and efficient algorithm : Quark.
- Circulating supply : 3 005 000 000 SPL
- Max supply : 21 000 000 000 SPL
- The other 18 000 000 000 SPL will be available with mining and staking your coins!
Like most crypto currencies Bitcoin uses a single Hash function or SHA-2.
Simplicity is super secure and uses Quark, a different hashing algorithm with 9 rounds of hashing from 6 unique hashing functions (blake, groestl, blue midnight wish, jh, SHA-3, skein). 3 rounds deliver a random hashing function. Even though most believe the SHA2 is sufficient at present, technology is always changing and improving. Just one of Simplicity’s algos, SHA-3, was developed after SHA-2 in case it was somehow comprised in the future. The multiple hash gives a further layer of security against unknowns that will enter the market down the road.
One block every 10 minutes (very slow transaction time).
Current bounty is 25 BTC halved every 210,000.
Total currency supply is capped at 21 million.
What started out as being CPU mined, has quickly led to a race to secure ever faster mining hardware. CPUs went to GPUs then to FPGA, and finally to ASICs (Application-Specific Integrated Circuit) designed and built only for mining bitcoins. It is virtually impossible to mine Bitcoins anymore without serious capital and hardware. You will find that the barrier to entry in bitcoin mining is huge!
⦁ Generates a new block every 80 seconds. (very fast)
⦁ Block 1 – 200 = Proccess Infrastucture Grounding Fund
⦁ Block 200 – 600 = 0 SPL
⦁ Block 601 – 2000 = 500 SPL Per Block
⦁ Block 2001 and beyond = 100 SPL Per Block
Modifier Interval = 20 Blocks
Target Timespan = 20 Blocks
Coinbase Maturity = 50 Blocks
Proof of Stake
⦁ Block 0 – 600 = 0%
⦁ Block 601 and beyond = 22.38% Per Annual Year
⦁ Staking starts automatically when you send coins on the wallet
⦁ It pays several time a day
⦁ Masternode Confirmations = 5 Blocks
⦁ Masternode Amount = 200,000 SPL
⦁ Masternode Tx Fee = 0.01 SPL
⦁ Masternode Reward = 2/3rd Block Value
We’ve all heard time is money, and if you have moved bitcoins around, you will know that it is lacking in fast transaction and confirmation times. One of litecoin’s main features to rival Bitcoin was that is changed its confirmation times. Although it is constantly in a state of flux, at the time of this writing, Bitcoin’s average confirmation time is 17.41 minutes.
Speed is one feature where Simplicity really shines. Simplicity’s average confirmation time is a blazing .64 minutes or less than 40 seconds! Go ahead download the wallet and move some Simplicity around, you’ll be impressed by how fast they transfer. When it comes to business, speed is essential and synonymous with money!
In the beginning Bitcoin was mined for several years by only around 30-40 people. Currently, it is virtually impossible for a single individual to mine Bitcoin. AntMiner just released a new Miner and sold out in 24 hours selling all their units at over $1500 each.
So the only option currently is to buy BitCoin at ~$10000USD. As the mining continues to intensify, more and more BTC blocks will fall into the hands of the few with lots of capital and hardware. Bottom line is from a mining point of view, BTC is becoming more and more centralized.
Not only is it said that the top 100 BitCoin holders control 21% of the market, this is just the minimum as each entity can have multiple addresses. Bitcoin distribution is very uneven or centralized as it has been rumored that only 50 people hold 60-70% of Bitcoin!
Distribution is Simplicity Coin’s strong point.
The former developer premined the first 200 blocks and then distribute half at the lowest price possible on the CoinExchange market. It is a good way to have some funds to ensure a great development of the coin. This one of the least expensive masternode coin, anyone can buy 200 000 SPL for few USD and discover how a masternode runs. This is a fair distributed coin with many new investors each day and it will allows to have a climbing price with future development.
On a maximum supply of 21 000 000 000 SPL, only about 3 000 000 000 SPL are now in the market. The other 18 000 000 000 SPL will be available with mining, staking and runing masternodes.
One weakness of bitcoin is the limited coin supply. A total cap of only 21 million bitcoins will ever be released, up until the year 2040. This sets it up for deflationary pressures which causes demand to always trump supply. As Bitcoin’s value rise, the transfer fee rise too. There is more incentive to buy and hold rather than to spend or use, so from this point of view it can never truly be a viable currency in day-to-day transactions.
Once the cap reached 21 million, there will be a decreasing amount of coins in circulation. Every year coins will be ‘lost’ through forgotten passwords, hard drive failures, hackers, software failures, improper backups, etc … This will cause the supply to decrease overtime.
Simplicity supply allows investors to hold for generating passive income through staking and masternodes as well as using it as a
currency to be used in fast and low fees transactions. In deed, you better stake your coins and keep some other to run masternodes in a near future if you want to enjoy a great passive income.
Trading is actually more risky than just holding your token in your secure and encrypted Simplicity wallet.