PRUX-Coin price is $0.41224500
The price of PRUX-Coin (PRUX) has increased today. At the moment, it is valued at $ 0.41224500. Keep in mind that cryptocurrency markets are highly volatile, and prices can fluctuate quite a bit over short periods of time.
PRUX-Coin is a digital currency that operates on a decentralized network. It uses the scrypt algorithm for its proof-of-work mechanism, which allows it to be mineable. PRUX-Coin stands out for its fast transaction speeds, with a block time of just 9 seconds, facilitating quick transfers. Additionally, PRUX-Coin is designed to be rare, with a limited number of coins awarded per block.
The information on the founders or team behind PRUX-Coin is not provided. Typically, cryptocurrencies are initiated by an individual or a group of developers who want to fulfill a certain need within the digital asset space. For PRUX-Coin, the aim appears to be to provide a fast and rare alternative within the cryptocurrency market.
PRUX-Coin functions by leveraging a proof-of-work (PoW) consensus algorithm, which requires miners to solve complex mathematical problems to validate transactions and secure the network. The scrypt algorithm used by PRUX-Coin is designed to be faster and more energy-efficient than traditional algorithms, promoting quicker transaction times.
PRUX-Coin's uniqueness hinges on its speed and rarity. The exceptionally fast block time of 9 seconds enables transactions to be processed and confirmed in under a minute. Moreover, the coin has been designed with scarcity in mind—only a small number of coins are created with each newly mined block. This scarcity mimics the supply limitations seen in precious metals, which can add to the coin's value over time.
PRUX-Coin is mined through a process similar to other scrypt algorithm-based cryptocurrencies. Miners use computational power to solve cryptographic challenges and in return, they are rewarded with a specified number of PRUX-Coin per block they successfully mine. This process not only generates new coins but also secures the network and processes transactions.
The total supply of PRUX-Coin is capped at a calculated limit, with an expected total of 114,375 PRUX to be mined by the year 2041. This means that, compared to many other cryptocurrencies, PRUX-Coin will have a much smaller total supply, making it rarer and potentially more valuable per unit.
To store PRUX-Coin safely, users can keep it in a digital wallet that supports the PRUX-Coin cryptocurrency. There are various types of wallets available, such as hardware wallets, desktop wallets, mobile wallets, and web wallets. Hardware wallets are generally considered the most secure, as they store coins offline, making them less susceptible to online hacks.
PRUX-Coin can be purchased on several that support the trading of this cryptocurrency. Prospective buyers should create an account on one of these exchanges, complete any necessary verification processes, and then they can trade other cryptocurrencies or fiat currencies for PRUX-Coin.
The circulating supply of PRUX-Coin is . Since PRUX-Coin is designed to be rare, the circulating supply is deliberately kept low compared to many other cryptocurrencies. This circulating supply may increase over time as more coins are mined, up until the maximum cap is reached.
PRUX-Coin currently holds a market capitalization of $ , ranking it at #1 in the cryptocurrency market. Over the last 24 hours, a total of 0.2 of PRUX-Coin was traded. These metrics provide insights into the coin's current demand, liquidity, and relative size in the crypto market.
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