Some information about BUENOS COIN

[Buenoscoin]

What are the objectives of Buenos?

Buenos is a bespoke cryptocurrency and blockchain, designed for the sole purpose of benefiting the Argentinian people. It does this by improving their economy with an ecosystem of technologies which grant Argentinians completely autonomy over their funds.

What is the High Reward Mining Phase?

The High Reward Mining Phase is a short period of APoW mining, in which the cryptocurrency community can mine Buenos before it is launched on local Argentinian exchange SouthXchange. It is an opporunity for the early community to earn high rewards for mining Buenos on their computers.


What is APoW Mining?

APoW is a special version of Proof of Work mining, in which the blockchain adapts very quickly to varying levels of network hash rate. It is used in Buenos to further stabilize the price, issuance and growth of Buenos by deterring large miners from attacking the network periodically.

Is Buenos backed by Bitcoin?

Yes. 10% of all Buenos mined over time, and 5% of the total volume is backed by bitcoin against Buenos in bid orders, to stabilize its price and promote growth.


What is the Stability Fund?

10% of mined Buenos is stored in a special fund used to support the price of Buenos. This fund scales with the emission of coins in the Buenos ecosystem, through APoW mining.


GO BUY BUENOS – The price of BUEN is getting higher day by day, don´t miss the opportunity before the price goes to the moon!

Instagram: @Buenoscoin

 

[Buenoscoin]

The mining pools would simply be the union of many miners who aim to undermine a certain cryptocurrency in order to collaborate with each other, because every day there are less coins left without extracting (around 80% of the Bitcoins have already been generated), which causes the computational power needed to mine a portion of a token to be increasing.

The mining pools are based on some algorithms whose function is to certify the validity and authenticity of each transaction made in the network of a certain cryptocurrency, and that use an enormous computational capacity to be able to decipher these algorithms. Naturally, since a pool shares its mining capacity, the profits obtained must also be shared. However, this would represent a great advantage for all those who belong to the pool, because It wouldn’t be necessary a determined person to solve the mathematical equation, but simply to belong to the pool of the user who achieved it.


ABOUT BUENOS COIN MINING

Buenos employs an Adaptive Proof of Work (APoW) consensus method to facilitate the fair distribution of Buenos coins over time and prevent against hash attacks from large miners. Buenos mining is open to anyone with a computer and an internet connection. To mine, a Buenos miner dedicates a portion of their computing resources to secure and verify transactions on the network. They are rewarded with Buenos coins whenever the next set of transactions (a block), is verified by the team of miners (mining pool) whom they are mining with. The reward for mining Buenos scales with the amount of computing resources used.

Cyptocurrencies that employ the traditional Proof of Work system, such as bitcoin, have been vulnerable to attack from ASIC miners and Mining Difficulty Manipulation due to non-optimal block time and block difficulty retargeting protocols. Buenos overcomes this with APoW. By keeping the block time to a minimum (1 Minute), and a block difficulty retarget time of 5 Blocks, the Buenos blockchain is resistant to congestion, which would otherwise be caused by the comings and goings of big miners. These parameters also render the Buenos blockchain incredibly resistant to mining difficulty manipulation. In addition to this added robustness, the HMQ1725 mining algorithm is ASIC resistant and therefore cannot be abused by specialized mining hardware.


Follow Buenos coin on Instagram: @Buenoscoin

For more info, go to Buenos coin’s website: Buenos.io