BlackCoin Market Cap Shoots Up Ahead of Proof-of-Stake V2 Adoption

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ForexMinute.com – The BlackCoin Development Team recently took Reddit to convey their plans to adopt Proof-of-Stake protocol v2 in order to fix the security glitches faced in earlier version. The team has also revealed to switch from SCRYPT to SHA256d in the wake of former’s non-compatibility with the new protocol.

Despite of being a cryptocurrency with huge potential, BlackCoin was under severe criticism for adopting the controversial Coinage system. This faulted system used to move coins to a wallet and was also adding interest in the mining process. But it somewhere lacked meat in terms of providing a secure network. Its approach was allowing nodes to perform double spend, while on the other hand, honest nodes had less influence on the system especially when they were not minting. In the new version, all the nodes will participate to ensure network security and won’t be deactivated while minting on coins.

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This POS V2 adoption, supplemented further with the news of the expected launch of BlackHalo – the BlackCoin’s very own decentralized platform, have been received well by the entire community. This gets easily reflected in the BlackCoin recent performances against other leading cryptocurrencies, and fiat currencies as well. Both the market cap and value of the coin has surged impressively in recent hours, injecting optimism into the market once again.

Although the investors are seriously eying on the “successful” launch of BlackHalo which was delayed earlier due to some technical glitches. While there have been no specific launching date mentioned by the BlackHalo’s core developer, rumors are that it will be not less than two weeks. We will keep you updated with this report in our future reports.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

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