GIN describes itself as an open source digital currency project whose goal is to provide secure, decentralized financial solutions. The cargo fleet of GINcoin master nodes (GIN) is delivered using the GIN Ecosystem Apps (GEA) protocol. The GEA protocol is reported to be a set of rules used by DAM (the distributed application market) and freighters to create and monitor a decentralized cargo fleet. The GIN freight fleet is designed to support distributed applications or jobs in a decentralized system that seeks to be resistant to individual points of failure and control.
Download Gincoin Core v1.3.0:
As reported, the GIN platform is the first organization to adopt the protocol and participate in the creation of the first DAM, which requires its customers to deploy master nodes and will benefit from a distributed network of hosting providers. GIN is the main currency for the GIN platform and provides transaction and management support through the GIN master nodes.
GINcoin is a coin of the GIN Masternode system, which is used for simplified deployment of masternodes (currently it is used in coins SmartCash, ALQO, Horizen, Bulwark, Polis and many others). The price for a month of using the GIN Masternode cloud node is from $ 4.5 per month.
GINCOIN cryptocurrency features
- from February 15, 2019 at 16.00 GMT, the GINCOIN blockchain operation is based on the PoW x16rt algorithm (before that – PoW Lyra2Z), in addition, the PoS masternode system is used;
- time between blocks – 2 minutes;
- block reward – 20 GIN coins (until block 262800 – March 2019), which are divided equally between miners and masternode owners;
- the developers implemented a premine of 4% (420 thousand GIN coins);
- GIN coins are issued and rewards are distributed to miners and masternode owners according to the following plan: