Rank 1306

Woodcoin

LOG

Avg. Price

$0.047892 USD

24hr change

+5.30%

LOG/USD Calculator

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Market Cap / USD

$384,821

Circulating Supply

8,035,193

Volume 24hr / USD

$7

Total Supply

8,035,193

What is Woodcoin?

  • Mineable
  • Coin

Woodcoin, or Logarithmic Bitcoin, is a decentralized, non-premined, mineable, proof-of-work global public currency. The unit of exchange is LOG, and it began in October 2014. Woodcoin was created to solve a problem which exists with the supply economics of many public coins. The reward schedule either drops too quickly (like Bitcoin and Litecoin) or too slowly (like Dogecoin and Ethereum). Woodcoin’s reward decrease is a harmonic series, which more closely models renewable resources rather than non-renewable. This means that while it is always better to chop LOGs today than tomorrow, there will still always be an incentive to secure the network tomorrow. The logarithmic money supply curve is designed for stability and longevity, with the longest reward schedule of any other cryptocurrency. Half the LOGs will be released in the first 200 years, instead of the first 4 years (Bitcoin). However, every block is worth less than the preceding one - so earlier adopters are always rewarded and the supply will never rise above 28.5 million LOG.

Always do your own research #DYOR

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