Cryptocurrency is a digital currency that uses cryptography to secure transactions. Bitcoin was the first cryptocurrency, created in 2009. YOcoin is an alternative cryptocurrency (altcoin) created in 2015. It has some advantages over Bitcoin like faster transaction times of 2.5 minutes versus 10 minutes for Bitcoin. YOcoin uses the Scrypt algorithm for mining rather than Bitcoin's SHA-256. The document discusses how YOcoin works, how to use it, differences from Bitcoin in mining and transactions, and the development roadmap for YOcoin.
3. A Cryptocurrency is a digital currency that is created through
mathematical engineering (algorithm).
It is designed to be open, anonymous, secure, fast and bypasses
traditional financial structures.
4. Bitcoin, created in 2009, was the world’s first Cryptocurrency.
Since then, many new Cryptocurrencies (also known as
Altcoins) have been introduced.
5. YOcoinBitcoin
Coin Limit 21 Million 84 Million
Algorithm
Mean Block Time
Difficulty Retarget
Block Reward Details
Initial Reward
Current Block Reward
Block Explorer
Created By
Creation Date
SHA-256
10 Minutes
2016 Block
Halved every 210,000 blocks
50 BTC
25 BTC
blockchain.info
Satoshi Nakamoto
January 3rd, 2009
Scrypt
2.5 Minutes
2016 Blocks
Halved every 840,000 blocks
50 YOC
50 YOC
explorer.yocoin.org
Jack Silvestri
December 8th, 2015
Bitcoin Statistics YOcoin Statistics
How YOcoin is different from Bitcoin
7. Digital currency maintains its users complete anonymity. When you
make a purchase with traditional money your personal information
is attached to each and every transaction which can be used
to track you and take note of your purchases. But cryptocurrency
transactions carry no personal information.
8. Cryptocurrencies aren't directly linked to the laws, rules or regulations of
any government, corporation or bank. Hence, the interest rates, fees and
surcharges that you may have to pay on your bank account or credit card do
not effect your transactions or cryptocurrency in any manner.
9.
10. How does YOcoin work ?
The Mining Process
SERVERS GENERATE COMPLEX
MATH PROBLEMS
MINERS GENERATE SOLUTION
TO RELEASE YO COINS
11. How to use YOcoins
SET UP YOCOIN WALLET BY DOWNLOADING
SOFTWARE ON COMPUTER OR PHONE
THIS SOFTWARE GIVES YOU A UNIQUE AND SECURE
IDENTIFICATION CODE FOR BEING IDENTIFIED
IN THE NETWORK.
XVhgXFFXSCS456FGGCF6ETCF76576
YOU CAN BUY YOCOINS WITH OTHER STANDARD CURRIENCIES
FROM OTHER USERS OR REGISTERED EXCHANGES.
THE FUND IS ADDED TO WALLET INSTANTLY.
THE YOCOIN NETWORK AUTHENTICATES THE
TRANSACTION BY ADDING IT IN PREVIOUS
BLOCK CHAIN AND MAINTAINS INTEGRITY.
YOU CAN ALSO SEND PAYMENTS TO OTHER
ADDRESSES BY USING THE SECURE
SOFTWARE EASILY.
12. Y
Y
Y
Y
Role of Blockchain in YOcoin mining
USER ‘A’ SENDS FUND TO USER ‘B’
THE TRANSACTION IS CONVERTED TO A ‘BLOCK’
THE TRANSACTION IS BROADCASTED ON THE
NETWORK FOR VALIDATION
THIS BLOCK IS ADDED TO THE EARLIER NON
REVERSIBLE PROCESS CHAIN OF BLOCK
FINALLY USER ‘B’ RECIEVES FUNDS FROM USER ‘A’
14. YOcoin can handle a higher volume of transactions thanks to its faster block generation. If
Bitcoin were to try to match this, it would require significant updates to the code that
everyone on the Bitcoin network is currently running.
YOcoin User Bitcoin User
15. A merchant who waited for a minimum of two confirmations would only need to wait
five minutes, whereas they would have to wait 10 minutes for just one confirmation
with Bitcoin.
YOcoin User Bitcoin User
16. Mining differences between YOcoin & Bitcoin
The key difference for end-users is the speed a transaction is validated. YOcoin requires only 2.5 minutes to generate a
block, as opposed to Bitcoin's 10 minutes.
Bitcoin uses the SHA-256 hashing algorithm, YOcoin, however, uses the scrypt algorithm – originally named as s-crypt,
but pronounced as 'script'. This algorithm incorporates the SHA-256 algorithm, but its calculations are much more
serialised than those of SHA-256 in bitcoin.
The total hashing rate of the Bitcoin network is over 20,000 Terra Hashes per second,
while YOcoin is just 95,642 Mega Hashes per second.
23. YOC LAUNCH
(DEC 07 2015)
OFFICIAL YOCOIN SITE
(JAN 01 2016)
FAUCET&BLOCK
EXPLORER
(DEC 17 2015)
FIRST UNOFFICIAL POOL
(DEC 11 2015)
LISTED ON BTC POOL
EXCHANGE(DEC 23 2015)
LISTED ON COINORIUM
EXCHANGE(JAN 08 2016)
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YOcoin Roadmap:
24. LISTED ON EMPOEX
EXCHANGE
(JAN 09 2016)
SECOND UNOFFICIAL POOL
(JAN 31 2016)LISTED ON C-CEX
EXCHANGE
(JAN 20 2016)
SPONSERED BY YOCOIN ITALY
(JAN 10 2016)
LISTED ON COINMARKET
CAP(JAN 21 2016)
OFFICIAL PAPERWALLET
GENERATOR
(FEB 17 2016)
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25. OFFICIAL MINING
POOL RELEASED
(FEB 19 2016)
OFFICIAL BLACKJACK GAME
RELEASED(MARCH 03 2016)
OFFICIAL FORK
DIFFICULTY RETARGETS
EVERY 2016 BLOCKS
(MARCH 01 2016)
OFFICIAL WEB
WALLET RELEASED
(FEB 23 2016)
OFFICIAL BLOCK
CRAWLER RELEASED
(MARCH 03 2016)
LISTED ON ALCUREX
EXCHANGE(MARCH 13 2016)
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26. OFFICIAL ANDROID WALLET
PAYMENT GATEWAY TO
ALLOW MERCHANTS TO ACCEPT
YOCOINREAL YOC COINS!
OFFICIAL DICE
YOC AS PAYMENT METHOD
FOR CASINO GAMES
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27. Be at the vanguard part of a TRUE Community-driven
Cryptocurrency…
YOcoin!