What is Skeincoin?
Skeincoin is an altcoin from 2013, using the flexible and efficient SKEIN crypto hash. There will be a maximum of 17,000,000 SKC coins. It is using a POW Hash: Round 1 Skein – Round 2 SHA2 .Block target: 2 minutes. Block reward: 32 SKC, halving every year (262,800 blocks) No premine.
What is the difference between Skeincoin and
Bitcoin is using the old SHA-2 in the 256bit version (SHA-256). So basically Skein is one of the new hash functions, one generation or 10 years newer. While Bitcoin has to use the old SHA-256, Skeincoin is using the more flexible and faster Skein hash.
What are the advantages for non-IT people?
Skein can be mined using a CPU, a GPU or other methods. Unlike Bitcoin, Skeincoin is flexible and faster. Transactions are cheaper and faster.
What is the market value of Skeincoin?
There are other coins using new hash functions like GroestlCoin (GRS) with a market cap of almost $70M. The value is defined by the interest of traders, buyers and investors. Currently, our market cap is around $3.5M.