VegasCoin’s Fair Block Reward System

by / Monday, 03 March 2014 / Published in Blog
Las Vegas

Many Altcoins, in our opinion have radically unfair block reward systems, they simply create far too many coins too quickly, thus giving a huge advantage to those early miners. Many coins launch themselves as ‘fair’, and yet their block rewards might halve each week, and also payout mega block rewards causing the founders and early adopters to hold most of the mined coins.

With VegasCoin, we realized that many users of our coins in the future may not currently be involved in crypto currencies, and so with our Block Reward system of 30 coins per block, the minting of VGC will be slow and steady, not overly enriching the early adopters, and meaning that the mining should be stable for many years to come.

Early mining adopters already get the benefit of receiving more coin from a low hashrate of few miners, so why also reward them with mega payouts and massive block rewards? We have avoided this at VegasCoin with a steady release of 30 VGC per Block, Averaging a Block every 2 minutes, currently there have only been around 500,000 coins mined, out of a total of 100 million one day to be mined.

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Get involved Mining VegasCoin its a Crypto Currency with a future !

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