Nyancoin (NYAN)

Nyancoin is a digital cryptocurrency that was launched in 2014. Unlike Bitcoin, it is not backed by any physical resource or government and is considered as decentralized crypto coin. It was founded by a user using the pseudonymous name “Josh Wise” who created a feline character by the name of Nyan Cat as the coin’s mascot. Nyancoin is built on the Scrypt mining protocol and uses a proof-of-work consensus algorithm. It has a maximum supply of 200 million coins with around 110 million presently in circulation. The block reward starts at 50 NYAN with a halving rate of every 30000 blocks. There is currently no fixed release schedule for new tokens. Nyancoin is unique for many reasons, including its low transaction fees of around 0.0001NYAN/kb and its low inflation rate or as the Nyancoin team likes to call it, “catflation”. Nyancoin also has a robust charitable giving system where users can donate directly to charities supported by the Nyancoin team. Nyancoin is used for payments and trading much like other cryptocurrencies, although it does not have as wide support as the larger coins such as Bitcoin and Ethereum. It can be bought or sold on a number of cryptocurrency exchanges including Bittrex, Cryptopia and CoinExchange. Despite its relative obscurity, Nyancoin has received a lot of support from its community of users and has survived to this day. The team behind Nyancoin has been working hard to improve the coin and its infrastructure, with plans to launch a new website and a mobile wallet in the near future. Nyancoin remains a unique cryptocurrency that is sure to stay in the minds of the crypto community. While it might not be as widely used as other coins, its unique branding and low fees make it an interesting choice for those looking to invest in something a bit different.