NewYorkCoin: The Big Apple Gets Its Very Own Scrypt-Based Altcoin
Not many people know about NewYorkCoin which was launched on March 6, 2014 by the New York Coin Foundation. This is a community of New Yorkers who are trying to bring together virtual currency enthusiasts such as investors, merchants, miners and others in order to spread digital currency awareness. NewYorkCoin was created in order to give New Yorkers more ways to spend their money.
Specifications of NewYorkCoin
This digital currency is a mixture of Litecoin, often called Bitcoin’s silver alternative, and Dogecoin a Scrypt-based parody of Bitcoin. The NewYorkCoin is based on Litecoin’s Scrypt Algorithm, but it is much faster than it. The new digital currency allows a block to be solved in only 30 seconds. The virtual currency also has similar specs to Dogecoin which allows for faster and convenient transactions. Overall, NewYorkCoin has faster verification of transactions than Bitcoin, Litecoin, and Dogecoin.
The New York Coin Foundation who created the NewYorkCoin is looking to spread awareness of digital currencies.
According to a press release,
“Their immediate goals is to provide better user experience and ensure a wide spread adoption of the new digital currency.”
NewYorkCoin also comes with a built-in security system that ensures safety of transactions. There are a total number of 100 billion NewYorkCoin in comparison to Bitcoin’s 21 million. People can also mine for the digital currency for a zero percent pool fee.
The NewYorkCoin is listed on exchanges such as BITTREX, Xnigma, and Bleutrade exchange, and is slowly making its way to other virtual currency exchanges.
NewYorkCoin Treasure Hunt Has Started!
An incentive to spread awareness of NewYorkCoin is the treasure hunt for coins. 100 million NewYorkCoin are being offered to 100 New Yorkers this month. The cost: 100% free! The rules are that whoever takes a picture of a newyorkco.in sticker and emails the picture to newyorkco.in will get 1 million NewYorkCoin. The stickers are posted all around the busy borough of Manhattan.
The cost is totally free and this treasure hunt will allow people to use the NewYorkCoin without any risks. The press release advises people to check SoHo, Greenwich Village and Little Italy areas for the stickers.
Another promotional effort is that the first 100 merchants to accept NewYorkCoin will receive a signup bonus of 10 million NewYorkCoin and will receive a free sticker. As stated in the press release,
“The New York Coin Foundation through all these promotions is trying to bring awareness among merchants and customers about the use of Bitcoins and NewYorkCoin which seems the currency of future where transactions could be secure and faster.”
The most interesting thing will be to see whether or not New Yorkers will choose NewYorkCoin over Bitcoin or other types of digital currencies. The NewYorkCoin does come with plenty of incentives to allow users to test the virtual currency risk free. The treasure hunt will also spread awareness of not only NewYorkCoin, but all digital currencies since NewYorkCoin is based on predecessors. The New York Coin Foundation said,
“A future with digital currencies appears inevitable. We are excited to offer New Yorker’s the opportunity to receive 1,000,000 NewYorkCoin to try risk-free and spend as they wish.”
If anyone has found the newyorkco.in stickers around Manhattan, they can claim the 1 million free NewYorkCoin through www.newyorkco.in. It’ll be interesting to see where this digital currency ends up in the future.
Image courtesy newyorkco.in