Today, I'm happy to introduce you to a project named KingsCoin. KingsCoin (KGS) is a PoS/Masternode coin with a total supply of 19,000,000, a premine of 1%, and a rewards structure that evenly distributes rewards between masternode owners and stakers in the early blocks, but leans more heavily towards masternodes in the later blocks. In this article, I'm going to introduce you to the concept of KingsCoin, and why it has so much potential.
KingsCoin aims to provide an elegant solution to the problem that Bitcoin and other PoW currencies are facing: centralization of an asset that was designed to be decentralized. PoW mining has given an unfair advantage to mining pools, which defeats most of the purpose of the original idea behind cryptocurrency. Giving private entities control over the supply of these cryptos creates an unfair system that rewards those in power and handicaps the average investor. Because of this problem, KingsCoin has implemented a fair distribution system using PoS (Proof of Stake) and masternodes. In addition to offering a more fair system of distribution, PoS also is more eco-friendly and ensures that KingsCoin can change the world without damaging it in the process.
After a successful launch and presale, KingsCoin will turn their attention towards disrupting the payments industry. KGS will be used in transactions as a rewards system for purchases and will therefore eventually be redeemable for prizes and other promotional offers. This utility will be attractive to any business that is looking to incentivize spending at their establishment, and any consumer looking to gain benefits from regular purchases. This system enables businesses to have a more friendly relationship with their customers and also enriches the lives of consumers.
KingsCoin has also implemented an anti-inflationary rewards system that will prevent devaluation of the coin from oversupply. This is a hugely important feature, given that this is one of the most common problems facing PoS and masternode coins. That system will make KGS a more secure investment while maintaining the upside and price potential that it has. Essentially, what KingsCoin is trying to do is eliminate downside through the block rewards structure. This, in addition to all of the utility that the KingsCoin team is giving KGS, is an excellent and effective effort to reward early investors of the coin by giving the project immense value.
KingsCoin is currently in presale, with masternodes getting bought up fast. To learn more about the project, converse with investors and developers, or participate in community activities, join the KingsCoin community.
BitcoinTalk Announcement: https://bitcointalk.org/index.php?topic=5023702.0
To hear from me about the project, follow me on Twitter: @Caleb11Lombardo