Posts Tagged ‘Bitz

staisybit-1

One of the main issues for users that are into altcoins are coins switching to PoS (Proof of Stake) or supporting both PoW (Proof of Work) and PoS (Proof of Stake) is that they need to run multiple wallets all the time usually with very low interest rate to keep them motivated. Of course the idea of PoS is to keep the network operational and with multiple nodes by stimulating users with rewards to keep their wallets running all the time, but this rarely happens as planned. This is precisely why the user interest usually drops in coins once they go to PoS pretty quick, but there is an interesting solution that might help users not loose interest in PoS coins and avoid the inconvenience of running multiple coin wallets all the time. Staisybit is an online wallet for multiple crypto coins that allows users to keep their coins stored in it and have them staked, earning rewards based on the interest rate that each coin has with very low fees. This will save you the trouble of running multiple wallets that can be heavy on the computer they are installed and require a lot of resources, especially if they are more than just a few coins. The drawback will be a smaller number of users running the wallet and supporting the network of the specific coins as the service runs a single wallet per coin with multiple users, but then again it is also about the convenience of the users.

staisybit-2

Staisybit has been available for a while apparently, but it is not very well known among users apparently and is not very popular, even though it provides interesting service and is easy to use and works well. Currently the service has support for 13 different coins with PoS, they are: Bitz (BITZ), Blackcoin (BLK), Diamond (DMD), Energycoin (ENRG), Europecoin (ERC), Fuelcoin (FUEL), Noblecoin (NOBL), OKCash (OK), Shadowcoin (SDC), Sterlingcoin (SLG), Vericoin (VRC), CoinMagi (XMG) and Quotient (XQN). Once you register (set a secure password with small and big caps and numbers) you need to Open Wallet for the supported coin you like and send in some coins in order for the staking to start. The service can use a bit of polishing and needs some more information and details such as info on all supported coins as some of them might not be familiar to many users etc, but is still quite good and might be useful to some users.

If you are interested in checking out the cloud staking online wallet service…

bitz-logo

Blitzcoin (BITZ) is a global peer-to-peer digital currency that makes instant payments to anyone in the world possible. Bitz is totally decentralised, belongs to nobody and there is no central authority and no banks involved. Unlike a bank, Bitz provides freedom and Bitz employs a so-called proof-of-stake mechanism that will accrue 10% annual interest on your Bitz balance. The Bitz wallet is free to download and use and open source. With Bitz you can be your own bank.

Website:
http://bitz.biz/

Block Explorer:
https://chainz.cryptoid.info/bitz/

Coin Specifications

  • X11 Algorithm PoW + PoS
  • PoW will end at block 100,000: ~ 3,500,000 coins
  • Coins rewarded per block (PoW): 35 BITZ
  • Time per block: ~ 1 minute (both PoW and PoS)
  • Difficulty Re-target: 10-20 minutes
  • PoS 10% per year from block 0

Wallet:
Windows
Linux
Mac OS

Source Code:
at GitHub

Ports:
– RPC Port: 21251
– P2P Port: 21252

Mining Pools:
No pools available, the coin is now PoS only.

Coin Exchanges:
Bittrex
Bleutrade
Yobit


top