Blackcoin is an improvement of Bitcoin. It is a peer-to-peer open-source blockchain network that utilizes PoS (Proof-of-Stake) as a consensus mechanism to keep the network running. Like Bitcoin, this coin is decentralized, transactions are transparent, but still keeps the users anonymous. Transactions confirmation time on this network takes an impressive 10 secs. The coin initially used both Pos and PoW (Proof-of-Work), but dropped the latter at the 10,000th block. Its developer's main agendaShow more [+] was to prove that his way of disabling PoW was more effective, secure and stable than many others. This network secures its network using a process called minting, and also rewards users who keep their wallets open to aid in this task. Users can earn up to 8% depending on the amount of BLK coins stake and the length of time their wallets remain open.
BLK is not premined and uses SHA256 algorithm. It was launched on February 24, 2014. The coin has a total supply of 100 million. Miners staking the coin are rewarded 1.5 BLK and the network's block time is 64 secs. The coin had no ICO, but users get a 1% reward annually to keep the network running and secure. BLK is supported by its official PayBLK wallet, and others like Holy Transaction, Coinomi, Cryptonator and CoinPayments wallets. This coin is listed for trade on various exchanges like Cryptopia, Bittrex, CoinEgg, Trade Satoshi, Bleutrade, LiteBit.eu and Upbit.