Influxcoin price is $0.00268099
At this moment, the price of Influxcoin (INFX) stands at $ 0.00268099, with a change rate of +0.00% over the last 24 hours.
Influxcoin (INFX) is a hybrid type of digital currency that adopts both Proof of Work (PoW) and Proof of Stake (PoS) consensus algorithms to help maintain the integrity of its blockchain network. Initially, Influxcoin used the X11 hashing algorithm during its Proof of Work stage, which allowed for individuals to mine INFX with their Central Processing Unit (CPU) and Graphics Processing Unit (GPU).
The coin initially started as an educational project to teach young individuals about the basics of cryptocurrency. However, over time, the project evolved and took on a broader scope, becoming a fully-fledged cryptocurrency project with greater ambitions.
Influxcoin was created by a team of developers who intended to not only create a new type of digital currency but also a platform that would educate young users about the foundations of cryptocurrency and its underlying technology, blockchain. However, the actual names of the creators have not been publicly disclosed, which is not uncommon in the cryptocurrency industry for various reasons such as privacy and anonymity.
Influxcoin functions like many other cryptocurrencies. It relies on blockchain technology, a distributed ledger methodology that ensures transactions are transparent, secure, and immutable. Influxcoin adopted a hybrid consensus mechanism, which means it employs both the Proof of Work (PoW) and the Proof of Stake (PoS) mechanisms.
During its PoW phase, users could mine new coins using their own computational resources (CPU and GPU). Unlike many other coins that require specialized hardware to mine, Influxcoin was intentionally designed to be accessible for beginners with standard computer hardware.
Once the PoW phase was complete, Influxcoin transitioned to the PoS phase. Instead of mining, PoS relies on users "staking" their coins to help validate new transactions and create new blocks.
Influxcoin's initial focus on education sets it apart from most cryptocurrencies. By providing a platform for learning, the creators of Influxcoin sought to bring the complexities of blockchain technology and digital currencies to younger generations in a user-friendly and comprehensible manner.
However, as the project evolved, Influxcoin became more than just a teaching tool. It became a functional cryptocurrency that aims to balance efficiency and participation through the use of hybrid PoW/PoS consensus model.
As of now, the exact circulating supply of Influxcoin in the market is 3.1M INFX.
Influxcoin (INFX) is available for purchase or exchange on the following cryptocurrency platforms: YoBit. Please remember to do your due diligence when purchasing cryptocurrencies. Always use reputable exchanges, and never invest more than you can afford to lose.
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