What is Shieldcoin?

shieldcoin

Shieldcoin is a new coin launched on July 8th. It features the X15 algorithm, PoW and PoS, and now the developer is working on a an implementation of anonymous transactions.

Here are the basic specifications taken form bitcointalk.org:

Algorithm: X15 POW/POS
Ticker: SHLD
Max POW Coins: Approx 1,000,000 SHLD
PoS Starts on Block 2500, Approx 3 Days Mining

No Premine

Block Rewards
Block 0 to 29 – 0 Coins
Block 30 to 500 – 666 Coins
Block 501 to 1000 – 555 Coins
Block 1001 to 1500 – 444 Coins
Block 1501 to 2000 – 333 Coins
Block 2001 to 2500 – 222 Coins
POS Only After Block 2500

Block Time: 120 Seconds
Annual Interest: 15%
Min Stake Time: 12 Hours
Max Stake Time: Unlimited
Coinbase Maturity: 50 Blocks

The X15 miner can be downloaded from the following cryptomining-blog link. Windows wallet is found HERE. For more detailed information visit the bitcointalk.org official thread

Why is it rising?

shield

It looks like the latest trend in altcoins is anonymity. We last saw what happened when vertcoin introduced stealth addresses. It caused a spike in market price because anonymous transactions/wallets is a feature that is highly in demand. On the Announcement page for Shieldcoin on Bitcointalk the dev posted a message saying:

I will release a preview “whitepaper” with more information about my work-in-progress implementations of  anon transfers and distributed anon chat within the next 12-18 hours max.

This is the hype that is partially causing shieldcoin to go up. We have also seen stealthcoin on the rise however due to multiple forks in its blockchain bittrex had to halt the market. The developers are currently working on the forks and should release a statement soon. Stealthcoin became popular because of it’s integration with the tor network, each node runs over tor and it gives it that extra anonymity.

So here we have 2 coins one of which runs over the tor network and the other claims to have anonymous transactions developed. Maybe the next big thing is a coin that runs over tor with anonymous transactions in place. That could be stealthcoin, or shieldcoin, or another coin that wins the race to a truly anonymous cryptocurrency.

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