StartCOIN makes bold claims. It appears to have been forked from Litecoin, and its last major commit took place nine months ago. Litecoin has seen some changes in the meantime, having released version 0.8.7.5 three months ago. Here is how the StartCOIN website describes its technological merit:
StartCOIN has 60 second block times, allowing transactions to be confirmed in 1 minute. This is over 10 times quicker than bitcoin! There are a total of 84 million coins, with a reward of 40 coins per block, halving every 12 months.
StartCOIN is an X11 cryptocurrency, like Dash (formerly DarkCoin), meaning that it was designed to be resistant to ASIC mining technology. A guarantee of limited coin supply should provide some hedge against inflation, and the coin has not been overly speculated against on any of the exchanges. Below are StartCOIN’s charts from Cryptsy and Bittrex. It also converts via ShapeShift.io at roughly the same rate (~0.00020000BTC per STC).
Brand’s StartJOIN and StartCOIN are specifically targeted at social justice and change, and, more to the point, Brand would like to see an end to capitalism. Readers may find this at odds with the laissez-faire capitalist attitude of many in the cryptocurrency field. Duly note, there have been other coins with similar intentions, such as Ocupy. On this subject, in the below video from Russia Today, Keiser, who is described as a co-founder of StartCOIN, says:
Russell Brand is starting a political revolution, and what we’re bringing to this project is an economic and finance revolution.
StartCOIN enjoys a certain amount of legitimacy because one of the world’s most famous activists and one of its more famous economists back it. Time will tell if it has staying power or goes the way of MegaCoin, which Kim Dotcom has yet to claim or deny any affiliation with.
Images from Shutterstock and phm.link.
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Last modified: August 6, 2020 7:01 PM UTC