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:
- Altcoin Miner successfully mines blocks of the coin.
- When a block is discovered a ‘skim’ is taken off the top.
- The ‘skim’ is paid to the Coin Dev.
Please see the following diagram for more info:
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