ZongCoin is a PoS-based cryptocurrency forked from BlackCoin.
ZongCoin is a peer-to-peer digital currency that has a decentralized and consensus based system where all transactions are viewed in a public ledger. Which means nobody has control and everything is completely transparent to everyone on the network.
This type of distributed network allows the coin to function without having to trust anyone. The concept of all digital currency is taking the control out of a central authority and putting it where it belongs... In the hands of the people!
With ZongCoin you can transfer money between accounts with ease. You can send any amount to any other person and they will receive it fast and be able to spend it once the transaction is confirmed by the network
ZongCoin uses the Proof of Stake method to secure all transactions. This means whoever is holding ZongCoin can decide to use the coin to help verify the transactions in the ledger. This process is called staking and this is how the newly issued coins are introduced to the network.
Anyone can stake coins and be rewarded with newly issued ZongCoin. All you have to do is download a wallet and keep the wallet online to process the transactions. This uses your computing power to distribute and verify the network and you get rewarded.
ZongCoin uses open source code, which means everything is public and can be checked, this is what makes digital currency so powerful. Everything is transparent and available for viewing and nobody has anymore authority than anyone else. Your authority only comes based on how much ZongCoin you are holding and staking and anyone can be part of this network.
Block Time: 2 Minutes
Minimum Stake Age: 3 hours
Maximum Stake Age: 15 Days
Algo: Scrypt
Stake Reward: 4%
Current Supply: 3,000,000 ZONG
Max Supply: 21,000,000 ZONG