OkCash is the re-brand of the cryptocurrency that was originally launched as PIMPcash.
The developers changed the name to realign it with their goals of making it mainstream and to reflect the positivity and innovation behind the currency.
See Our October 2016 update (article) about OKCash.
The cryptocurrency started out as a PoW/PoS hybrid that has now evolved to a full PoS model.
What this basically means is that miners had 15 days to mine coins through GPU’s and specialized rigs after which the only way to create more coins would be through the process of staking.
A Coin With Some Class
OkCash has shown a level of polish in design and user interface that is difficult to find in most other cryptocurrencies.
Its blockchain has never had any glitches and its code has stood up to everything the community has thrown at it.
The currency is becoming one of the first names in social payments and transaction across the web and has bet that increased social integration with a wide variety of platforms will boost its acceptability and build trust among users.
How To Mine OKCash?
OkCash can be mined by the use of different algorithms at www.okcashpool.info.
People can also earn more coins simply by keeping their wallet running. They need to have some amount of currency in their wallets, after which they automatically get staked and start accumulating coins at around 69% per year without the need for any additional special equipment.
This is an extremely attractive method for mining coins for prospective users who might not have the resources required to set up specialized rigs. The rate of rewards for staking is 69% for the first year, 20% for the second, 10% for the third and 6% from then onwards.
How Many Total Coins Will Be Mined?
The total number of coins available to be mined is 105,000,000 OKCash.
Advantages of OkCash
OkCash boasts some of the fastest transaction times across all cryptocurrencies and can be used to send currency all over the world almost instantly. There are no bank fees involved and the transactions are made across a secure network free from prying eyes.
The biggest advantage however is the ease of use in using OkCash. The only software that people require to send or receive money is the OkCash wallet itself. This hold true for individuals or businesses, making it extremely easy to set up.
OkCash Wallets and Exchanges
The OkCash source code is available at github and customized wallets have been designed for Windows, Mac, Linux and even Raspberry Pi.
The currency is currently being traded at Bittrex, Bleutrade, and Cryptopia.
It is also accepted via the online cryptocurrency payment processor Cointopay which you can use at an ever growing number of online merchants that accept various alt coins as payment for their goods and services.
OkCash is also being used extensively in crowdfunding, sharing, education and charitable initiatives. The developers have shown vision by extending support to other currencies and setting up the first cross-coin collaboration systems with Gaia, Einsteinium, and a few others as well.
written by: dhruvgupta