What is IXCoin (IXC) Crypto Beginner’s Guide
IXCoin (IXC) is a cryptographic currency based on Bitcoin. As a result, it uses the SHA-256 functions and algorithm which does not have a central authority that monitors each transaction in the network. An open-source, P2P digital currency, IXCoin differs from Bitcoin in a method that it has a maturity which is shorter.
So before you get your IXCoin ready and start to trade and mine, its best to ensure you have an understanding of how to tell the Bitcoin and IXCoin address apart. The Wallet key of the IXCoin comes with the letter X at the start as opposed to the number 1.
Mining of IXCoin
With a block time of 10 mins and a coin cap of 21 million, IXCoin is looking ready to be the first Bitcoin alternative. But out of the two, IXC comes with a larger block reward which Is a whopping 96 coins in comparison to 25 coins offered by Bitcoin. Additionally, the 21 million coins from IXC was created in 2015 which was 18 years after Bitcoin. This only ensures the mining of IXC is more appealing.
Asides from this, the difficulty adjustment of both cryptos also have some similarities at 2,016 blocks. Nonetheless, it is best to note that IXCoin has not gone past its 200 thousand markers. With blocks almost at 180,000 so far, the IXC currency has a much larger difficulty than a majority of the altcoins at 257,271,234.8508. Nonetheless, this is still less than Bitcoin.
But with a continuous enhancement on the number of blocks generated is the increase of IXCoin difficulty. Ever since it was launched in the year 2011, IXCoin has had the capacity to maintain a Difficulty Fluctuation which is average. This is a great sign as your experience while mining wound suffers from severe changes. This way, you can make certain that you will earn coin rewards continuously during the period of mining.
Another great aspect of the IXC is the mining feature. Using this, miners can mine over one blockchain simultaneously. This may need additional effort but this enhances the rewards available. This will generally aid you in earning extra coins especially presently that there is no Faucet for IXC available.
The IXCoin Exchange
You can Trade IXC at a VirCurEX and Cryptsy exchange. Even though IXC comes with a lower value in comparison to BTC, it is presently doing fine in the market. In fact, the value of IXC is continuously increasing and displaying amazing stability. If this goes on, the in future it will be able to compete for side by side bitcoin. With more than 177,000 blocs generated, the rate of IXCoin exchange is well past 0.0002 which is much higher than a majority of the alternative cryptos.
Where and How to Purchase IXC
Purchasing IXC for fund via your bank needs a 2-step process. You would purchase some ETH or BTC from an exchange that supports deposit from a bank account or credit card. Next, you will transfer your newly purchased crypto to a marketplace that sells IXC in replacement for Ether or Bitcoin.