PinkCoin is a new platform that is changing how we think of charity, being both monetarily profitable and also great when you’re in the charitable mood.
Being a crypto currency, PinkCoin focuses on more than just peer to peer transactions, it’s a platform where you can gain some interest from owning your coins as allowing you to donate a certain amount from the interest you get to charity.
What is a digital currency?
Digital currency is a new comer to the block. Working on the blockchain where millions of computers are connected together to form a network. This concept has been adopted by many digital currencies including PinkCoin.
Right now, digital currency, better known as crypto currency is one of the most secure as well as the most profitable.
There are a few ways you can get digital currencies like PinkCoin, the methods include:
- Buying PinkCoin directly from the website
- Buying PinkCoin from other coin owners
- Forging PinkCoin by staking
- Trading for PinkCoin (Bittrex)
Staking and how crypto currency forging works
When a new block is to be created, an account is chosen pseudo-randomly based off of an algorithm that is directly affected by the user’s wealth (which is the stake). Essentially speaking, the stake system is called PoS or Proof of stake which is forged or minted, instead of ‘mined’.
This means that the total number of coins generated in the start as compared to the total number of coins does not change after. There is no generation of extra blocks; instead, the forgers take the transaction fees.
Creating a system of fair play
Since the richest member on the block would have the permanent advantage, there are a few ways the avoid this and keep the selection fair for all members.
One such way of doing just this is by using randomized block selection. By using a formula that looks towards the absolute lowest hash value along with the size of the stake. Using this method and combined with the fact that each stake is public, the node can predict which account will be able to win the right to forge a block.
Advantages of Pink’s PoS system
Since conventional PoW (proof of work) systems are very cost heavy and require heavy payments in the form of real-world currency for electricity and cooling, Pink’s PoS system is extremely cost efficient, and up to several thousand times in fact.
In POS, the one’s owning the currency will be the ones who are guarding it, as compared to the possibility of not even owning the currency being farmed in PoW systems.
Pink’s Donate4Life Campaign
The Donate4Life campaign has brought aboard many iconic celebrities and there have been a large amount of donations received from this campaign.
Over 13,000,000 Pink has been donated so far which is over 377,838 CAD. The staked amounts are also very large, over 339 thousand Pink has been staked so far as well.
Your ability to join different charity pools and sending your Pink coins directly to trustable and handpicked representatives so there is no risk involved.