NovaCoin, NVC Launched in Russia on February 11, 2013 The decentralized point-to-point network currency of the hybrid scrypt Proof-of-Work + Proof-of-Stake algorithm, mined by the CPU and GPU, 2.5 minutes, each up to 100 coins. Provide 5% annual interest, total 2 billion.
NVC output model is actually very simple, it uses two ways: proof of work, proof of ownership.
Proof of work: full name Proof of Work.
This means that how much money you earn depends on the effective work that you contribute to the mining, that is, the better your computer's performance is, the more ore it will be allocated to you. This is the execution of the currency based on your proof of employment distribution. Most virtual currencies, such as bitcoin, Litecoin, etc., are virtual currencies based on the POW pattern (the higher the power, the longer you dig, the more money you get).
Proof of ownership: full name Proof of Stake.
In simple terms, it is a system that gives you interest based on the amount and time of the currency you hold. Under the proof of shareholding POS model, there is a term called "currency age", in which each currency generates 1 currency per day, for example, if you hold There are 100 coins, a total of 30 days held, then, then your currency age is 3000, this time, if you find a POS block, your currency will be emptied to zero. Each time you are emptied of 365 currency, you will get interest of 0.05 currency from the block, which can be interpreted as 5% of annual interest rate. In this case, interest = 3000 * 5% / 365 = 0.41 currency, This is very interesting, holding a coin interest!