Symbol XCN
Established 28.07.2014
Website URL Link
Block explorer Link
Off. announcement​ Link
Founder bitfreak!
Algorithm M7
Protocol POW
Reviews 0 / 0

Cryptonite is a Bitcoin-based cryptocurrency that was launched in 2014. Despite the fact that it took Bitcoin's open source as its basis, it has undergone a lot of changes and improvements in order to become a sovereign cryptocurrency.

Cryptonite was the first cryptocurrency to implement the mini-blockchain technology. This technology was meant to incorporate all of Blockchain's advantages while discarding the disadvantages. Mini-blockchain allows users to keep block headers as PoW records and discard old transactions.

Thanks to this new technology, Cryptonite supports mini-transactions and transaction messages that are available to all users. One of Cryptonite's other advantages is the ability to set withdrawal limits. Thus, any user can limit the number of withdrawable coins per block making low- and zero-confirmation transactions safer for merchants and other users.

The block generation time is just one minute and the block reward is generated on every retarget. Cryptonite provides absolute user anonymity, however, the system's security is still in its testing phase. Cryptonite's creators claim that their cryptocurrency's level of security is at least as high as Bitcoin's, but since it is a young currency, it needs more time to find and eliminate all possible weaknesses.


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    News and Tweets

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