Introduction to ExchangeCoin
What is ExchangeCoin?
EXCC is a highly secure cryptocurrency that combines both Proof-of-Work (PoW) and Proof-of-Stake (PoS) consensus algorithms, with a 70%/30% split. It utilizes the Equihash 144,5 algorithm, which is ASIC-resistant, to ensure a level playing field for all miners. With a total supply of 32003133.2, a block time of 150 seconds, and robust protection against 51% attacks, EXCC is a reliable choice for investors and traders. Additionally, the absence of any developer fee guarantees that EXCC is solely focused on providing the best possible value for its users. ExchangeCoin has originally forked from Decred.
How Does it Work?
Stakeholders are responsible for creating and implementing the consensus rules of the blockchain, as well as setting the direction for future development. ExchangeCoin’s blockchain shares similarities with Bitcoin’s, but also has distinctive features of governance integrated into the protocol. For further information on ExchangeCoin’s governance model, please refer to our governance page.
To promote aligned incentives, the rewards for mining blocks are divided between Proof-of-Work (PoW) miners and stakeholders utilizing Proof-of-Stake (PoS) mechanisms.
| Subsidy | Party |
|---|---|
| 70% | PoW Miners |
| 30% | PoS Voters |
Proof of Work miners play a similar role for ExchangeCoin as they do for Bitcoin, but with ExchangeCoin they only receive 70% of the block reward.
Proof of Stake ExchangeCoin’s governance is heavily reliant on voting. By locking their EXCC for a specific duration, holders can receive voting tickets, which are subsequently selected at random to vote on-chain. The voting process involves assessing the work of PoW miners and voting in favor or against any open proposals for rule changes. As a reward, 30% of the block reward is distributed among the holders of the tickets that participated in that specific block’s vote.
The ExchangeCoin Constitution sets out some guiding principles for the project; the constitution is subject to amendment through voting system.