At a time when new, unique cryptocurrencies are springing up regularly, it can definitely become difficult for digital currency enthusiasts to keep track of profitable currencies that are easy to work with and sport the right features.
For those enthusiasts, Cachecoin aims to provide a solution that is feature-rich, versatile and simple to use. Cachecoin is simple to understand and use, and there are no specialized hardware requirements for this relatively new kid on the block, making it easier even for beginners to try and mine with their home computers. Built with the sole aim of making the altcoin ecosystem better, this Scrypt-based coin has a number of important features, and can be a great coin to start off with for those just starting out with cryptocurrencies in general.
The creators of Cachecoin, which came out in 2014, openly declare their priorities while designing this digital currency, and these include functionality, improved user experience and better security. To achieve these, a number of special features have been built into the Cachecoin ecosystem, and with features like cohesive integration with social media, more feature-rich wallets and the presence of a block chain explorer right inside the wallet app, there is a lot for enthusiasts to rave about.
The Cachecoin team believes that most of the functionality that users expect when it comes to digital currencies resides in the tools and features available in the wallet app, and this where improvements would count the most. To achieve this, they have tried to include a larger set of tools and features into their wallet than is available with most standard wallet options and have also attempted to make these features as customizable as possible, giving users greater power over their experience when it comes to functionality.
One of the most important features when it comes to mots digital currencies is the ability to carry out anonymous transfers, and with Cachecoin, the development team has built on this feature by incorporating full anonymization of all transactions, along with a system of encrypted chat being built into the wallet also now in development. The use of Scrypt-Jane is a good move, as it neutralizes most scenarios where it would be possible to abuse the system with the use of GPU mining, and highly specialized ASIC hardware, which are popular with many other kinds of digital currencies.
Proof of Stake Mining
Cachecoin employs an ingenious feature where miners can get increased rewards by retaining their Cachecoins for a set period of time. Along with proof of work blocks, these proof of stake blocks then add to the reward pool. There is also the versatile option for miners to set aside a particular amount of coins, effectively excluding them from being used as proof of stake. The proof of stake concept does not need any additional setup and happens automatically, while also being light on system resources, providing users with more reward options that they can appreciate and make use of.
Getting Started with Cachecoin
The Cachecoin platform is feature-rich and has support for a number of popular wallet software, mining software and mining pools, making entry into this digital currency easier for the uninitiated. Installing the wallet creates a directory in the appropriate location in the user’s computer, which can then be populated with the right configuration file to start the mining process. Solo mining is possible, although resources indicate that joining forces with a pool might be more profitable for users. Supported miners include all the popular choices that enthusiasts and beginners alike have trusted over the years.
In summary, Cachecoin might well be that digital currency that opens up the world of altcoins to new users, with better features, better security and ease of use. This might well be a coin that enthusiasts would do well to keep their eyes on in future.