The CasinoCoin network consists of miners, exchanges, users of the currency as well as casino gaming applications and merchants that accept CasinoCoin.
CasinoCoins are unearthed by miners using mining software on commodity computers. Miners play an essential role in the CasinoCoin ecosystem by providing a steady supply of CasinoCoins to the exchanges as well as ensuring network stability and security.
This is where CasinoCoins can be bought and sold using fiat currencies such as USD. The market determines the relative value of CasinoCoins.
Currency users use CasinoCoin at merchants and online casino gaming applications that accept the currency. These users obtain CasinoCoin either by purchasing at the exchanges, by mining or through promotions.
Deposit CasinoCoins into online casino gaming applications where they can be used to play games of chance, or spend CasinoCoins by redeeming them for rewards at merchant sites.
CasinoCoin is based on the strengths of crypto currency protocols such as Bitcoin, Litecoin, Feathercoin and WorldCoin, giving it a second movers advantage. It leverages the security of Bitcoin, the accessibility of Litecoin, the abundance of Feathercoin, and the speed of WorldCoin.
CasinoCoin uses the scrypt proof-of-work algorithm that Litecoin employs. Scrypt based crypto currencies are currently immune to the rise in specialized ASICs such as those used in Bitcoin mining. It is unlikely for ASIC mining to be developed for CasinoCoin until the currency is widely used.
There will be a total of 336 million CasinoCoins ever in existence. Roughly 93% of the total will be in circulation by the year 2033.
The reward per block for CasinoCoin follows a deflationary model, starting at 50 coins per block and halves every 3 years. Currently, the reward is 50 coins per block.
CasinoCoin employs 30-second block times in order to balance fast transaction speeds and the security of the network. It is 20x faster than Bitcoin and 5x faster than Litecoin.
The network difficulty retargets every 720 blocks, or approximately every 6 hours.