DJ Lethal, of Limp Bizkit and House of Pain fame, along with his partner Justin Lally, have announced their plans to bring digital currency culture to the music industry.
Justin Lally claims: “The focus is on merchant adoption. Rather than just asking merchants to use Kashcoin, we are working to provide them with the tools to make this happen. If we do most of the hard work, merchants will be able to easily integrate Kashcoins into their existing payment solutions. We are asking merchants to tell us what they need and then respond to that with our development.”
Kashcoin is supposed to begin trading on multiple exchanges this week but isn't looking to become a Bitcoin replacement. It wants to serve the music industry as best it can. Personally, I feel like it's a solution in search of a problem. :)
Here are the coin specifications:
– Proofs: Network-Stake (PoS) – Anonymous Burn Destroy (PoBA)
– Min Stake Time of 1 hour, Max Stake Time of 8 hours
– PoW ended at Block 100.000, Mined 1,200,000 KASH
– Minimum Transaction Fee: 0.01 KORE
– RPC Port: 28555, P2Port: 28556
– Confirmations: 10, Maturity: 30
Kashcoin wallets and preminers should be available soon for all major operating systems.