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Genstake
GEN
Genstake is about trying something different with staking. Staking was designed originally to yield a percentage of a coinholder's total coins over time, every year, in exchange for supporting the network.
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Genstake price

- Last price:
1 GEN =
-0.3956%
0.00000437 BTC
Market cap
Volume 24h
Minimal price for 24h
Maximum price for 24h
Statistic
Genstake course
Genstake course in BTC
0.00000437 BTC
Market capitalization
Trade volume 24h
Minimal price for 24h
Maximum price for 24h
Market cap rank
#2473
Absolute maximum
Absolute maximum date
From absolute maximum
-80.79%
1d Volatility
0.69%
7d Volatility
14.67%
Changes for 24h
-0.3956%
Changes for 7d
-12.6626%
Changes for 14d
-15.1028%
Changes for 30d
-38.5226%
Changes for 60d
-65.7483%
Changes for 1y
0.0000%
Genstake (GEN) - USD Historical Price Chart
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About Genstake (GEN)
Genstake is about trying something different with staking. Staking was designed originally to yield a percentage of a coinholder's total coins over time, every year, in exchange for supporting the network. Developers walk a fine line between coding high interest percentages to entice holders to stake to support the network while trying to keep the interest percentages low enough that inflation doesn't kill the coin. People have become accustomed to 'Mining Periods' of hyper inflation where the initial coinbase is established, after which mining becomes impossible and the network relies entirely on holders to stake in order to maintain the network and process transactions. Genstake aims to change all that. With Genstake, staking blocks doesn't give you interest on the coins you already have; staking blocks gives you a full block reward. Effectively, each of your coins becomes a little mining rig on the network, working diligently to mine you more coins. Gone are the days of 0.02 coins for staking a block. Staking a block with Genstake produces 20 Gencoins. There will always be traditional mining on the Genstake network as well - in fact, at first, everyone will have to mine the traditional way. Genstake uses a Scrypt POW system, and each block minted with Proof-Of-Work produces 5 Gencoins. Not too much, but that's the point. The idea is for the POW mining system to always be a viable point-of-entry into the Genstake system for people that don't want to or can't afford to buy the coins off the market. Theoretically, as people mine enough coins through POW to start stake-mining, they'll stop mining POW and move strictly to POS. This natural mechanism should keep POW difficulty at a reasonable level for everyone to be able to take part, and with POW/POS running in permanent concurrency, the risk of a 51% attack is made practically impossible. Genstake utilizes a natural reward halving system, cutting the supply that is released through the pos/pow system by half every year. There is a hard limit of 15m coins written into the code, but depending on the balance between POW and POS over the years, there's unlikely to ever be more than 13M coins.
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