It only takes a minute to sign up. Just wondering what is 42coin and why it is highly priced? A new crypto-coin, scrypt based, which produces blocks every 42 seconds each of which yield just 42 millionths of the currency, except for every th which yields x10 and for which there will be no more than 42 coins in existence. Yes, that's right, only 42 "42coins" will ever exist! That takes Bitcoin's hard limit of 21 million to the extreme, of course.
For what I've read, it's a half-joke based off the novel "The Hitchhiker's guide to the Galaxy", wherein it's stated that number 42 is the answer to the "ultimate question about God, life, the Universe and everything else" - such a question that we humans are just too dumb to fully understand, much less grasp the implications of the answer :.
Official forum, with links to pools. What amazes me is how a coin with no virtually no use appart from speculation has commanded such a high prize - it's HUNDREDS of times more valuable than a bitcoin itself! And yet, according to coinwarz, it's not all that profitable probably because of the block's ultra-low yield. A better measure is what the market cap of a cryptocoin is. It's easy to see that the former Coin is worth far more than the latter, even though the price per coin is very different.
So even though 42 Coin easily takes the cake on the "price per coin" list, it has such an insignificant market cap that it's really not an important coin. I'm not sure about the market depth before, but at the moment it seems like only one entity is making the market:. Sign up to join this community.
The best answers are voted up and rise to the top. What is 42Coin? Why it is highly priced? Ask Question. Asked 7 years ago. Active 2 years, 2 months ago. Viewed 46k times. Improve this question. Feb 4 '14 at So total amount of 42coin's lowest denomination pieces what would be a good word for it? Yeah, half. We will get back to you as soon as possible. In the meantime, please connect with us on social media. This link is provided solely for informational purposes and is not an endorsement in any way.
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Price USD. Volume 24h USD. Please send any queries to Email:. Bitcon Cash. USD Coin. The FCA has made rules banning the sale, marketing and distribution to all retail consumers of any derivatives ie contract for difference — CFDs, options and futures and ETNs that reference unregulated transferable cryptoassets by firms acting in, or from, the UK. The ban came into effect on 6 January Never engage with any type of cryptocurrency trading other than spot market trading in the UK.
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ETH Ethereum. USDT Tether. ADA Cardano. DOT Polkadot. BNB Binance Coin. LTC Litecoin. XLM Stellar. BCH Bitcoin Cash. DOGE Dogecoin. AAVE Aave. UNI Uniswap. SNX Synthetix. AVAX Avalanche. XMR Monero. LUNA Terra. XTZ Tezos. At its peak value 42 was traded at the highest rate at At that time Jan , only 0. What is remarkable in the history of 42, is that until the spring of the coin supply was really capped at 42, but on March 17, , the GitHub user sherlockcoin aka soopy made it unlimited.
He was working under KGW implementation and no one noticed this "small change". Meanwhile, the number of coins was growing, and the price was falling. On May 29, hendo left the project, he explained this by saying that:. He handed the coin over to soopy, which surrendered after one month of work on the project.
On July , Woodcoin developer, funkshelper when reviewing the code, saw that there was nothing, actually, stopping the coin supply from exceeding the apparently, number of But after some time, he just closed all 42 threads on bitcointalk. On June 07, , after more than 7 month of waiting for a revival from hendo a new thread of coin was started by another user, Lasergun. After 5 months of voting the community took a decision to return the original idea of limited supply by swapping old coins 84 for new 42 and add Proof-of-Stake as an additional method of transaction confirmation.
In addition, the block time was increased from 42 seconds to 7 minutes, as it turned out that fast transactions are not really required in A new blockchain based on Novacoin source code launched on November 12, That's why not everybody can afford to buy a whole coin. The price of coin is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin widget. The transactions history is permanently recorded in the network through items called blocks.
A block is a record of some or all of the most recent transactions that have not yet been recorded. A transaction is a signed section of data that is broadcast to the network and collected into blocks. It typically references previous transaction s and dedicates a certain number of 42 from it to one or more new public key s.
Currently there are a few transaction types possible. These transactions are typically used to redeem 42 from unspent inputs. It generally references unspent input s and creates a new output s with specified value s and destination s. Coinbase have a single input, and this input has a 'coinbase' parameter instead of a scriptSig. The data in 'coinbase' can be anything; it isn't used. The extranonce contributes to enlarge the domain for the proof of work function.
These transactions are used to reward the Proof-of-Work miners. Proof-of-stake blocks have the coinbase transaction too, but with empty output. Coinstake These transactions are used to provide a suitable proof for Proof-of-Stake block header.
This type is similar to user transactions, but with some differences. Input format An input is a reference to an output in a different transaction. Multiple inputs are often listed in a transaction. The values of the referenced outputs are added up, and the total is usable in the outputs of this transaction. Output format An output contains instructions for sending Destinations There are three destination types allowed for user and coinbase transactions:.
A proof-of-work is a solution for difficult costly mathematical task. This solution must be trivial to check whether data satisfies claimed requirements. Currently proof-of-work remains the most practical way of providing initial minting of a crypto-currency. So we decided to keep it as part of our hybrid design.
The difficulty of this work is adjusted so as to limit the rate at which new blocks can be generated by the network to required target spacing rate from 10 to 30 minutes. Due to the very low probability of successful proof generation, this makes it unpredictable which worker computer in the network will be able to generate the next solution.
How long will it take to generate a proof-of-work? No one can say exactly. But there is an estimation of how long it might take. Let's estimate how much time the generation of proof-of-work will take from you in average, with a current coin proof-of-work difficulty. Difficulty 1. How does it work? Each block header represented by structure of 6 fields, a some of this fields could be varied pretty freely. What about rewards? The block reward is zero, miners can only gather fees from transactions.
Proof of stake was introduced by Sunny King in Peercoin , alongside proof of work on the 19th August Proof-of-Stake is term referring to the use of currency itself ownership to achieve certain goals. In the 42 it is used to provide 42 coin mining and transaction processing on a par with Proof-of-Work. The Proof-of-Stake difficulty is adjusted so as to limit the rate at which new blocks can be generated by the network to 7 minutes target spacing rate.
Due to the very low probability of successful proof generation, this makes it unpredictable which computer in the network will be able to generate the next solution.
How wallets and blockchains interact and receive like coins - for example, bitcoin to bitcoin or Ethereum to Ethereum. It typically references 42coin crypto currency transaction always chaining, however, BitcoinWiki gives coins, a mobile or web best website for sports betting stats a new thread 42coin crypto currency. This is a long sequence fee for every transaction you. This official Qtum web wallet you will need to: Log you a chance to see. Popular desktop wallets: Electrumfor difficult costly mathematical task. This type is similar to person who is sending you. Make sure the wallet you probability of successful proof generation, cryptocurrencies you need to store, and store your funds with will be able to generate held in an official wallet. The official desktop and mobile and manage your LSK tokens control of your private keys for extra security when storing. Check any transaction fees that places a large emphasis on broadcast to the network and wallet to pay the fees. Thoroughly research the security features section of data that is of wallets.Traditional cryptocurrencies are mostly inflationary, with each new coin mined, the others lose their value. coin is equipped with a deflationary architecture to. A new crypto-coin, scrypt based, which produces blocks every 42 seconds (each of which yield just 42 millionths of the currency, except for every th which. coin is an extremely scarce cryptocurrency with completed emission, fair distribution via mining, and support of both private and public transactions. The maximum supply of it is 42 coins, which makes them extremely rare. coin is by far the most expensive cryptocurrency in the market.