In recent times, a lot of people have started looking into crypto currencies. Still there are many that are not aware of how the crypto currency market functions, what mining is, POW, POS. With the number of ICOs being announced every other day, quite a few good non ICO coins get lost in the crowd. This is going to be a short information one good coin, Pioneer Coin.
Pioneer Coin (PCOIN), an Altcoin, was first announced at the Bitcointalk forum on October 04, 2017. For people unaware of the forum, Bitcointalk is a forum started by Satoshi Nakamoto and is the primary place for coin announcements. Every coin created is based on an Algorithm (Algo). There are many algorithms now starting from Sha256, Scrypt, Scrypt-jane, X11, X13, X15, Qubit, Dagger, N-Scrypt, Sha3, Neoscrypt, Cryptonote, Blake, etc. PCOIN is based on X11.
What is the need for a common man to know what algo a particular coin is based on?
It is important for a person to know about the algo if he/she chooses to mine a particular coin. Based on the algo, one can mine a coin with your CPU, Graphic Cards or machines specially designed for mining called ASICs. Algorithms for which ASICs are available, using CPUs and Graphic Cards are useless. ASICs as of now are available for Sha256, Scrypt, X11, etc. So to mine PCOIN one would need ASIC designed specially for X11 algo. A popular ASIC for X11 is Antminer D3.
You might have already known after reading the first paragraph that PCOIN did not have an ICO to begin with. What does this mean? You do not have to buy upfront and wait for it to hit the exchanges. PCOIN is a POW coin. POW stands for Proof of Work, which means you can mine the coin. ASICs are expensive to buy, but if you are interested in mining and are little short on funds, you can rent X11 rigs at renting sites like miningrigrentals.com. Currently there are 2 pools available to mine PCOIN.
Wallets are available for Windows, Mac, Linux, and paper wallet. Web wallet is currently in development.
Total coin supply is 23 million. This is a limited coin supply coin. A limited supply with good support from the coin dev and a genuine road map drives the price of the coin higher.
Current market cap of PCOIN according to Coinmarketcap is $1,184,226 USD
Exchanges
Currently trading in 3 Exchanges (Cryptopia, TradeSatoshi and Stocks.exchange) and will soon be listed in HitBTC.
https://www.cryptopia.co.nz/Exchange/?market=PCOIN_BTC
https://stocks.exchange/trade/PCOIN/BTC
https://stocks.exchange/trade/PCOIN/ETH
Mining Pools
https://pcoin.coin-miners.info/
https://bulwarkpool.com
Features of PCOIN
Coin Type: PoW
Algorithm: X11
Block Time: 120 Seconds
Block Reward: 22
Block Halving Rate: 500,000
Total Coins: 23 Million
Difficulty Retargetting Algorithm : Dark Gravity Wave
1 Million Premine reserved for Social media rewards
Specials from PCOIN team
PCOIN will introduce a SELF Development Portal and Social media
PCOIN team is coming up with an exchange to trade 35 Crypto Currencies.
Local Exchange to trade PCOIN with Fiat locally peer to peer
Contributor, launching soon - Block Reward will Split in 3 parts, 45% to miners and 45% to Contributor who have 1000 PCOINs in their own wallet, 10% to Self Development Portal, but currently 100% goes to the miner.
Marketplace to buy and sell digital products
Whitepaper can be accessed at https://pioneercoin.com/whitepaper.pdf
A look at the road map will clearly tell plans till end of 2018 and each feature/milestone is being completed one by one.
PCOIN can either be mined in either of the two mining pools or can be purchased at any of the exchanges listed above.
This is what makes PCOIN a great altcoin to look out for.
Source of the above information
https://pioneercoin.com
https://bitcointalk.org/index.php?topic=2237331.0
https://coinmarketcap.com/currencies/pioneer-coin/