BlackCoin (BLK), formerly known as BlackCoin (BC) developed by Pavel Vasin (rat4), is an open-source peer-to-peer cryptocurrency initially created from Novacoin in November 2014. After a short Proof-of-Work (scrypt) period, BlackCoin has switched to a Proof-of-Stake algorithm whereby a compound annual interest rate of up to 1% is paid to the interested parties, depending on the number of coins used. From a technical point of view, BlackCoin’s confirmation time of only 64 seconds makes it one of the fastest blockchain. The PoS algorithm can be used to mine and minimize energy consumption. However, the most important advantage of BLK lies in something else. The most important examples of this are the continued support of the core development team, the continuously build on the infrastructure and the community, their own smart contract platform BlackHalo and their own decentralized exchange called NightTrader.
