Many people have predicted the end of Scrypt coins due to ASIC technology. That threat does not have the creator of CornerstoneCoin (CCX) scared. Instead, they’re launching today - heading into the incredibly-crowded arena of altcoins.
Are the devs crazy or just optimists? Only time will tell! However, let’s take a look at the basics behind the coin’s concept and go from there.
According to the Ann thread, this coin is following the new standard PoW/PoS pump and dump format that has become popular in recent weeks.
How Long Is The Mining Period?
The PoW period lasts 18 days in the case of CornerStoneCoin. After that period of time, the coin starts ‘staking.’ The POS period begins fter 5 days of holding the coin in your wallet. The coins can be held for a maximum time of 25 days. In order to receive ‘interest’ wallet owners need to open their wallet at least once each 25 days.
How Does The Community Involvement Look?
This launch looks like it has garnered very little interest. There is little activity in the thread. Several relatively-unknown pools have setup shop to handle the mining. In general, the early miner/dumpers will get onboard along with a shady exchange or two in order to facilitate the pump and dump. So far there doesn’t appear to be any exchange ready for launch.
Is Fatigue For PoW/PoS Settling In?
Altcoin miners seem to have a nearly insatiable appetite for dumping coins so I can’t say for sure if this craze is nearing its end. Certainly there has been a major onslaught of coins using this concept lately. Whether that means there really is high demand or the coin devs are misjudging the demand remains to be seen.
We’ll keep an eye on any progress made by CCX.