€ 0.0007685
3 years ago
(-0.23%)
YEScoin's proof-of-stake system combines randomization with the concept of "coin age," a number derived from the product of the number of coins times the number of days the coins have been held. Coins that have been unspent for at least 30 days begin competing for the next block. Older and larger sets of coins have a greater probability of signing the next block. This process secures the network and gradually produces new coins over time without consuming significant computational power. YEScoin's developer claims that this makes a malicious attack on the network more difficult due to the lack of a need for centralized mining pools and the fact that purchasing more than half of the coins is likely more costly than acquiring 51% of proof-of-work hashing power.
The official YesCoin ticker is “YES” and trades under that name on all the exchanges where it has been listed. The designation “YESCOIN” is for CryptoCompare.com only.
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