Novacoin (NVC)

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Description

Novacoin has a unique mixture of features and methodologies that set it apart from other digital currencies. For example, instead of the more energy- and time-consuming SHA-256 mining method, Novacoin uses Scrypt; this is faster and easier for individual miners to use without having to dedicate a single device to mining alone. Novacoin also uses both the proof-of-work and proof-of-stake mining protocols, so rewards can be earned both by mining data blocks and by investing in the currency itself. Though one or more of these features is used by other currencies, the combination employed by Novacoin makes it like no other major cryptocurrency in the field.

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History

Novacoin was released to the public on February 9, 2013. Though it's considered the “last” of the major digital currencies to be introduced, it has still carved its niche in the brief period of time since its introduction. It's now traded on the majority of the alternative currency exchanges around the world, and is accepted by a growing number of merchants and vendors. We'd like to note here that some sources list Novacoin as having a mintage cap of two billion coins; this is only an accounting-based number and is likely to be lifted. Novacoin has no official cutoff number of coins that can be generated.