Phoenixcoin Price(PXC)

Phoenixcoin is a decentralized peer-to-peer digital currency that operates on its own open-source blockchain. It was first launched on May 8, 2013, under the original name Phenixcoin. The project was founded by John Carmiche and Michael Burns through the company Phenix Crypto Systems Network Inc. The primary goal of the project was to create a user-friendly cryptocurrency for everyday transactions and for use in specific digital platforms such as gaming and safe trade environments. Technically, the currency was built using the Bitcoin source code as a foundation but modified to use the Scrypt hashing algorithm, similar to Litecoin. It later moved to the NeoScrypt algorithm to ensure that the network could be mined using standard computer hardware like graphics cards and processors rather than specialized industrial machines. This choice was intended to promote decentralization by making mining accessible to a wider range of individuals. The network is characterized by a block target time of 1.5 minutes, which is designed to provide faster transaction confirmations compared to many other proof-of-work currencies. The total supply of the currency is protocol-limited to 98 million coins. To secure the network, Phoenixcoin utilizes an advanced difficulty retargeting system that adjusts frequently and implements advanced checkpointing to help prevent 51 percent attacks. Early in its development, the project was part of an alliance called the United Open Currency Solutions alongside other early alternative coins. Although the alliance eventually ended, the project has continued as a community-led initiative. It remains open-source under the MIT/X11 license, allowing for public contributions to its development. The project provides digital wallet software for various platforms, which allows users to interact with the decentralized network directly as peers. Learn more

Looking to buy How to buy PXC? The process is simple and hassle-free! You can easily purchase PXC on LBank by following our step-by-step buying guide. We provide detailed instructions and video tutorials showing how to register on LBank and use various convenient payment options.

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