Coins: 14,905
Exchanges: 1,159
Market Cap: $2.562T 0.2%
24h Vol: $115.075B
Gas: 9 GWEI
Go Ad-free
Coins & Tokens
TABLE OF CONTENTS

NeuCoin Creates New Ecosystem on Top of a Blockchain

JP Buntinx -

The virtual currency world has seen many alternate currencies being launched, most of which did not bring any new innovation or purpose to digital currency in general. Bitcoin is still the most popular virtual currency in existence today, but the launch of NeuCoin could prove to be strong competition. NeuCoin is not just another altcoin, it is a whole new digital currency ecosystem in its own right.

Launching today, NeuCoin is carving out a path of growth and consumer adoption by targeting games, microtransactions and social media. This alternative virtual currency is not just aimed at crypto enthusiasts, as it combines the right tools to reach a mainstream audience in new and entertaining ways.

Two important NeuCoin tools will be made available from the start: a convenient and user-friendly online wallet, as well as a consumer mining service requiring no technical background. Both of these tools will help novice users get acquainted with the NeuCoin ecosystem. Trading of the virtual currency itself will start on Friday, as both Bittrex and Cryptsy will open NeuCoin markets on that day.

As its engine of growth and adoption, NeuCoin uses a strategic distribution model and very high rewards aimed at incentivizing consumers and service providers to get involved and participate in building NeuCoin’s utility and value.

Proof-of-Stake Rewards Provide Security and Benefit Early Adopters

NeuCoin is a new alternative currency, which wants to bring a self-sustained ecosystem to the world of virtual currencies. Unlike most alternate virtual currencies, NeuCoin cannot be mined like Bitcoin, as the currency utilizes the Proof-of-Stake protocol. That being said, there are various ways for Neucoin users to increase their holdings over time.

The way NeuCoin is designed allows early adopters of the alternate digital currency to benefit from high Proof-of-Stake rewards, which are initially set at 100% per year. However, these Proof-of-Stake rewards will decline over the span of the next ten years, and ultimately settle on a rate of 6% per annum.

“This design incentivizes miners to provide security, rewards early adopters and enables NeuCoin’s foundations to distribute coins to consumers and service providers that make NeuCoin more useful,” says Dan Kaufman, a co-founder of the NeuCoin Project.

Due to these high rewards from day one, NeuCoin users are incentivized to get involved in Proof-of-Stake mining. To make mining easy for mainstream consumers, the MyNeuCoin online wallet lets users transfer coins to one or more “growth accounts” for a specific amount of time, ranging from 3 months up to 5 years. All of the coins sent to these accounts will be staking constantly, and the users who sent over coins will be rewarded with additional NeuCoins. The longer the term, the higher the rewards. While users can cancel their growth accounts at any time and get their deposit back, they will forfeit their rewards if they cancel before the term ends.

But these growth accounts are not just intended to reward coin holders, as the staking process associated with this feature will help protect the NeuCoin network as well. Most alternate Proof-of-Stake virtual currencies become prone to security issues when there is little to no interest from users to stake coins. More information regarding this ideology can be found in the NeuCoin whitepaper.

NeuCoin co-founder Dan Kaufman told CoinGecko Buzz:

“NeuCoin isn't just another coin - it's a whole ecosystem of consumer-facing services - all aimed at growth and acquiring lots of mainstream users from outside the crypto world. It’s about reaching new audiences in a fun way and putting crypto in the hands of millions of regular users through games and social media.“

Community Is Key For NeuCoin

No virtual currency can survive without having the support of a large and loyal community. Participating in the NeuCoin ecosystem will entitle users to rewards and incentives, as there will be a continual distribution of coins throughout the years. To attract as many people as possible, the NeuCoin team has come up with various tools and services to push adoption in a short amount of time.

Web wallets are synonymous with digital currency these days, and MyNeuCoin will offer exactly that type of feature. But there is a twist, as MyNeuCoin does not have access to the private key(s) associated with the web wallet address, leaving the individual user in total control of their funds at all time. In fact, MyNeuCoin will collect all of the relevant data from the blockchain itself, and present it in the format of an online user interface.

Educating people on the topic of virtual currency has proven to be quite a hassle, as novice users can get overwhelmed quickly with technical terms. NeuCoin wants to make this process more fun, while keeping a large focus on education. GetNeuCoin will act as both a game-like faucet and a quiz, where users can find out more about this alternate virtual currency and earn free coins.

Last but not last, micropayments will play an important role in the expansion of NeuCoin’s ecosystem. Games, tipping services and access to ad-free premium content - including pay-per-views - will be at the community’s disposal, fueled by the freemium distribution of NeuCoin.

Within the first few months after the NeuCoin launch, mobile/online games based on popular mechanics will be unveiled, while showcasing the NeuCoin integration as a microtransaction solution. Players will be able to earn additional coins by advancing in these games, incentivizing the community to get involved in the products and services created by the team.

A Self-Sustaining Ecosystem On Top of a Blockchain

Many people see alternative digital currencies as “clutter”, as most of these coins offer nothing more than just another blockchain. NeuCoin is different in this regard, as the team has created a self-sustaining ecosystem on top of the NeuCoin blockchain. There will always be a focus on technological innovation and expansion, which will be beneficial to the ecosystem as a whole.

Dan Kaufman, NeuCoin Project co-founder, concludes:  

“Launch, of course, is just the beginning. What will come in the next few months are the real use cases - playing games, micro pay-per-view and tipping. The first NeuCoin-integrated game is based on one of the most popular card games in the world and will show how to engage users by letting them earn a few NeuCoins for playing, then using them to level up or challenge their friends. Instead of having to pay $5 bucks to buy “in-game tokens”, which is the way most games monetize, the player actually wins NeuCoins!”

Source: Press Release via Email
Images courtesy of NeuCoin
Disclaimer: NeuCoin is an advertiser on CoinGecko
CoinGecko's Content Editorial Guidelines
CoinGecko’s content aims to demystify the crypto industry. While certain posts you see may be sponsored, we strive to uphold the highest standards of editorial quality and integrity, and do not publish any content that has not been vetted by our editors.
Learn more
Want to be the first to know about upcoming airdrops?
Subscribe to the CoinGecko Daily Newsletter!
Join 600,000+ crypto enthusiasts, traders, and degens in getting the latest crypto news, articles, videos, and reports by subscribing to our FREE newsletter.
Tell us how much you like this article!
JP Buntinx
JP Buntinx
JP Buntinx is a freelance Bitcoin writer and Bitcoin journalist for various digital currency news outlets around the world. Jean-Pierre is an active member of the Belgian Bitcoin Association, and occasionally attends various Bitcoin Meetups in Ghent and Brussels. Follow the author on Twitter @jdebunt

More Articles

Select Currency
Suggested Currencies
USD
US Dollar
IDR
Indonesian Rupiah
TWD
New Taiwan Dollar
EUR
Euro
KRW
South Korean Won
JPY
Japanese Yen
RUB
Russian Ruble
CNY
Chinese Yuan
Fiat Currencies
AED
United Arab Emirates Dirham
ARS
Argentine Peso
AUD
Australian Dollar
BDT
Bangladeshi Taka
BHD
Bahraini Dinar
BMD
Bermudian Dollar
BRL
Brazil Real
CAD
Canadian Dollar
CHF
Swiss Franc
CLP
Chilean Peso
CZK
Czech Koruna
DKK
Danish Krone
GBP
British Pound Sterling
GEL
Georgian Lari
HKD
Hong Kong Dollar
HUF
Hungarian Forint
ILS
Israeli New Shekel
INR
Indian Rupee
KWD
Kuwaiti Dinar
LKR
Sri Lankan Rupee
MMK
Burmese Kyat
MXN
Mexican Peso
MYR
Malaysian Ringgit
NGN
Nigerian Naira
NOK
Norwegian Krone
NZD
New Zealand Dollar
PHP
Philippine Peso
PKR
Pakistani Rupee
PLN
Polish Zloty
SAR
Saudi Riyal
SEK
Swedish Krona
SGD
Singapore Dollar
THB
Thai Baht
TRY
Turkish Lira
UAH
Ukrainian hryvnia
VEF
Venezuelan bolívar fuerte
VND
Vietnamese đồng
ZAR
South African Rand
XDR
IMF Special Drawing Rights
Cryptocurrencies
BTC
Bitcoin
ETH
Ether
LTC
Litecoin
BCH
Bitcoin Cash
BNB
Binance Coin
EOS
EOS
XRP
XRP
XLM
Lumens
LINK
Chainlink
DOT
Polkadot
YFI
Yearn.finance
Bitcoin Units
BITS
Bits
SATS
Satoshi
Commodities
XAG
Silver - Troy Ounce
XAU
Gold - Troy Ounce
Select Language
Popular Languages
EN
English
RU
Русский
DE
Deutsch
PL
język polski
ES
Español
VI
Tiếng việt
FR
Français
PT
Português
All Languages
AR
العربية
BG
български
CS
čeština
DA
dansk
EL
Ελληνικά
FI
suomen kieli
HE
עִבְרִית
HI
हिंदी
HR
hrvatski
HU
Magyar nyelv
ID
Bahasa Indonesia
IT
Italiano
JA
日本語
KO
한국어
LT
lietuvių kalba
NL
Nederlands
NO
norsk
RO
Limba română
SK
slovenský jazyk
SL
slovenski jezik
SV
Svenska
TH
ภาษาไทย
TR
Türkçe
UK
украї́нська мо́ва
ZH
简体中文
ZH-TW
繁體中文
Login to track your favorite coin easily 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Forgot your password?
Didn't receive confirmation instructions?
Resend confirmation instructions
IT'S FREE! Track your favorite coin easily with CoinGecko 🚀
By continuing, you agree to CoinGecko Terms of Service and acknowledge you’ve read our Privacy Policy
or
Password must contain at least 8 characters including 1 uppercase letter, 1 lowercase letter, 1 number, and 1 special character
Didn't receive confirmation instructions?
Resend confirmation instructions
Forgot your password?
You will receive an email with instructions on how to reset your password in a few minutes.
Resend confirmation instructions
You will receive an email with instructions for how to confirm your email address in a few minutes.
Get the CoinGecko app.
Scan this QR code to download the app now App QR Code Or check it out in the app stores
coingecko
Continue in app
Track prices in real-time
Open App