ChessCoin price is $0.01497229
As of recent monitoring, ChessCoin has a price of $ 0.01497229, having decreased by -0.47% in the last 24 hours.
ChessCoin (CHESS) is an innovative digital currency designed specifically for the enthusiasts of the game chess. It is a peer-to-peer type of cryptocurrency that is built on a Proof-of-Stake (PoS) consensus algorithm. The PoS mechanism allows ChessCoin holders to earn more coins by holding the currency in their wallets. However, the details of the technology and core features of ChessCoin can be found on their official page, chesscoincommunity.com.
The specific creators of ChessCoin are not clearly disclosed but it's product of a team comprised of chess and cryptocurrency enthusiasts. They desired to bridge the gap between the two communities by creating a dedicated currency. The team is passionate about both chess and digital currencies, which fueled the creation of the ChessCoin.
ChessCoin operates on a Proof-of-Stake consensus algorithm. This means that ChessCoin holders can earn more coins simply by holding the currency in their wallets. This method is energy-efficient compared to Proof-of-Work cryptocurrencies as it doesn't require computational power. All transactions and creation of new ChessCoins are validated by existing holders. The more ChessCoin is held, the higher the chances of validating a transaction and receiving more coins.
ChessCoin’s unique proposition is its partnership with the chess community. It offers an incentive for chess lovers to engage in the cryptocurrency sector. By adopting the Proof-of-Stake consensus mechanism, it provides an environmentally friendly alternative to other cryptocurrencies and offers coin holders incentives for their participation in securing the network.
As of the last records, the current circulating supply of ChessCoin is at , although the data may have updated since the time of writing.
Securing ChessCoin involves ensuring that you store your coins in a safe, secure wallet. Regularly updating your wallet software, using strong, unique passwords, and refraining from sharing sensitive information can contribute to the security of your ChessCoin holdings. However, the effectiveness of these measures can vary and are heavily reliant on user vigilance.
ChessCoin (CHESS) can be bought on the following exchanges: YoBit. Always ensure to do your research on the platform you choose to use for purchase to ensure it's reputable and secure.
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