What Is A SkimCoin?

Skimcoins have arrived as a new way for coin devs to profit off the production of their coins.

Instead of using more traditional methods - such as Premines or Instamines at launch - coin devs take started a new wave - taking a percentage off of every block that’s discovered by miners and paying it to themselves.

Here’s how it works:

1. Altcoin Miner successfully mines blocks of the coin.
2. When a block is discovered a ‘skim’ is taken off the top.
3. The ‘skim’ is paid to the Coin Dev.

Please see the following diagram for more info:

I hope that you found this post helpful and thanks for stopping by!