RieCoin was launched in 2014. Like many other cryptocurrencies, Riecoin is based on Bitcoin's open source. This digital currency is a peer-to-peer network with no centralized administrative system or middlemen.
Riecoin’s and Bitcoin’s APIs have a lot in common. The peer-to-peer protocol was borrowed from Bitcoin and slightly modified.
Since the process of digital money creation, also known as mining, is extremely important, the Riecoin team focused efforts on seeking those aspects that could be improved and renewed. They found that the hashing function, known as "Proof of work", had been consuming too much processing power. This is the reason why they decided to move away from this function. The team was convinced that instead of hashing, that processing power could be used for performing more important and useful tasks.
This currency was launched on an absolutely fair basis. Due to the fact that the first 576 blocks brought no rewards, it prevented instamine during the first stages of Riecoin’s development.
RieCoin was launched in 2014. Like many other cryptocurrencies, Riecoin is based on Bitcoin's open source. This digital currency is a peer-to-peer network with no centralized administrative system or middlemen.
Riecoin’s and Bitcoin’s APIs have a lot in common. The peer-to-peer protocol was borrowed from Bitcoin and slightly modified.
Since the process of digital money creation, also known as mining, is extremely important, the Riecoin team focused efforts on seeking those aspects that could be improved and renewed. They found that the hashing function, known as "Proof of work", had been consuming too much processing power. This is the reason why they decided to move away from this function. The team was convinced that instead of hashing, that processing power could be used for performing more important and useful tasks.
This currency was launched on an absolutely fair basis. Due to the fact that the first 576 blocks brought no rewards, it prevented instamine during the first stages of Riecoin’s development.
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