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What is BlackCoin?
BlackCoin has seen initial success due to its innovative features. The coin has incorporated bitcoin upgrades to reduce transaction risk. The coin initially uses proof of work as well as proof of stake, with the proof of work being dropped after the 10000th block. The advantages of Blackcoins proof of stake is that it has extremely fast transaction confirmation times at ten seconds - compared to bitcoins ten minutes plus. The other bonus is the low energy consumption without PoW mining. Interest is paid annually at a 1% rate - well below the present global average.
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