iBank price is $0.00036982
The current price of iBank (IBANK) is $ 0.00036982. The price has increased by +0.00% in the last 24 hours, and it has a market cap of $ . Based on its market cap, it ranks #1 among all the cryptocurrencies in the market.
iBank, also known as IBANK, is a cryptocurrency that uses a combination of Proof of Work (PoW) and Proof of Stake (PoS) consensus mechanisms. Its unique feature is that it uses the Scrypt encryption algorithm, a password-based key derivation function designed to make brute force attacks highly difficult. This cryptographic protocol enhances the security and integrity of the transactions on the iBank network.
Moreover, iBank is not just a cryptocurrency. It operates as an investment group focusing on PoS coins and trading to generate revenue.
The operation of iBank is tied closely to its consensus mechanisms - Proof of Work and Proof of Stake. Initially, when an iBank block is generated, it goes through a PoW process where miners solve complex mathematical puzzles.
Once the block is mined and added to the blockchain, it then partakes in a PoS process. The Proof of Stake mechanism allows iBank holders to earn revenue simply by holding onto their coins. The more iBank coins you hold and for a longer period, the more significant your rewards.
Moreover, in a bid to generate more revenues, the iBank investment group delves into trading other PoS coins, thus offering users an opportunity to earn passively.
One of IBANK’s unique features is its dual consensus model, which leverages both the Proof of Stake and Proof of Work mechanisms. This not only enhances security but also allows coin holders to earn passive revenues.
The use of the Scrypt algorithm also sets iBank apart. This encryption algorithm is designed to resist brute-force attacks, providing an additional layer of security and making IBANK transactions more secure and reliable.
The circulating supply of iBank is , while the total possible supply is 44.3M. Keep in mind that the earning potential for IBANK holders can be significant, as the Proof of Stake consensus mechanism allows stakeholders to earn additional coins just by holding IBANK.
iBank can be purchased on several cryptocurrency exchanges. However, you should only trade on exchanges that are reputable and trusted. The current exchanges in which IBANK is listed are YoBit. Please do your due diligence before choosing an exchange.
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