What is Experiencecoin
Experiencecoin is a peer-to-peer Internet currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware. Experiencecoin provides faster transaction confirmations (1 minutes on average) and uses a memory-hard, scrypt-based mining proof-of-work algorithm to target the regular computers and GPUs most people already have. The Experiencecoin network is scheduled to produce 21.5 billion currency units over 800 years. One of the aims of Experiencecoin was to provide a mining algorithm that could run at the same time, on the same hardware used to mine Experiencecoins. With the rise of specialized ASICs for Experiencecoin, Experiencecoin continues to satisfy these goals.
Find general information as well as a list of services and exchanges that support Experiencecoin at the Experiencecoin Wiki. Up-to-date network statistics can be found at Experiencecoin Block Explorer Charts. Source code for Experiencecoin-Qt and related projects are available on GitHub.
Free, Open-Source Software
Experiencecoin is a free software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.
The Experiencecoin blockchain is capable of handling higher transaction volume than its counterpart - Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future. As a result, merchants get faster confirmation times, while still having ability to wait for more confirmations when selling bigger ticket items.
Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending experiencecoins. This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.
Miners are currently awarded with 17500 new experiencecoins per block up to block 1,080,000, after that the reward will drop to 64 permanently , an amount which gets halved roughly every 25,600,000 blocks. The Experiencecoin network is therefore scheduled to produce 21.5 Billion experiencecoins, which is roughly 250 times as many currency units as Experiencecoin and 1023 times as many currency units as Bitcoin.
How It Works
After months of months of playing EASports FIFA14 you have reached Level 30 and are one of the most respected players around. Your friends won't play you anymore because they know they don't stand a chance and everyone online knows your avatar by heart as an automatic loss if they challenge you. You've put sweat and tears into every last pass, shot and goal. You are so connected with the game, just the sounds of the title screen get you amped up that you can't grab your controller fast enough.
You Bet It Does
That's where we come in. All you simply have to do is trade in your existing EASports FIFA14 experience points to Experiencecoin and in return use your new digital currency to level up in other games on any platform. So all that time you put in faking out top-tiered goalies and scoring highlight reel goals can now be transfered to start you from stratch in EVE ONLINE, right at level 30.* *Level numbers and properties vary from game to game.
A Fresh Start
But months later you are turned on to EVE ONLINE and cannot wait to dive into something fresh. Creating your account you are back at Level One and begin your quest to climb up the ranks and leaderboard into a respectable position. But wait, you might be green to the platform but you are an exeperienced gamer! You put in hours upon hours playing EASports FIFA14 climbing the ladder to the top, shouldn't that count for something?
It's That Simple
Experiencecoin works for a number of games, systems and platforms. If you can earn experience points and level up in the game, you can trade it in for Experiencecoin and be on your way once you start something new. Try Today!