No one knows for sure other than it started in March 2014 as a Litecoin/Dogecoin fork and the original developer has not appeared on Github or Twitter since.
Educational content to help you learn about NYC
No one knows for sure other than it started in March 2014 as a Litecoin/Dogecoin fork and the original developer has not appeared on Github or Twitter since.
There are various wallets (a) desktop wallets, often referred to as QT wallets, for all major operating systems, (b) paper wallets, which allow the holder to keep NewYorkCoin in a secured “cold storage” system, (c) mobile wallets, such as Coinomi. People need to think of a wallet as less of a physical place but more of a special digital address that holds your NewYorkCoins. Your public key is your wallet’s receive address and the private key allows the wallet holder to send NewYorkCoins.
Only the desktop QT wallet, which is literally downloading the entire NewYorkCoin blockchain, is slow to sync. Other wallets do not download the entire blockchain; they just communicate with the blockchain. Sync speeds are dependent on computing power and internet speed; however, you can download a “bootstrap”, which is a snapshot of the blockchain through a certain period and install that to speed up the sync process.
Yes. Since NewYorkCoin uses a Scrypt hashing algorithm (the same one Litecoin uses), NewYorkCoin can be mined with any equipment that can mine Litecoin and other scrypt coins. The most efficient miners are any ASIC (which stands for “application specific integrated circuit”) computer devices, but they use a lot of energy.Mining requires a cost-benefit analysis of NewYorkCoin’s value versus the cost of the equipment and the cost of the energy. Also you can mine NewYorkCoin with your GPU over special pools.
Every NewYorkCoin transaction can confirm within 30 seconds of transmittal, provided the app, wallet, or exchange is connected to the network. Confirmation times are dependent on network congestion.
Please visit nycoinstores for more merchant acceptance information.
NewYorkCoin’s network has no transaction fees, except in very limited scenarios (such as the transaction is extremely small or extremely large). However, some exchanges may charge a transaction fee for providing the service of listing NewYorkCoin and some wallets may charge a fee. Paper wallets, desktop QT wallets, and now Coinomi do not charge a transaction fee. Other coins, such as Bitcoin, charge a transaction fee so that miners are incentivized to confirm a transaction faster. NewYorkCoin’s 10,000 block reward is what incentivizes miners to confirm transactions.
Here you can see the code from original Github.The NewYorkCoin community is currently updating code at community Github.Some of the devs are testing code in their own Github and then will point their work to the NewYorkCoin community Github.
Join Discord, tag an active member who can relay the information to a dev or community member who can help address the issue. There’s no formal governance structure; we are all volunteers but we as a community welcome feedback so that NewYorkCoin can continue to improve and hopefully become a premier cryptocurrency.
Join NY Coin Market, a place to trade goods and services for NewYorkCoin.