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STY

StoriesCoin

Algorithm:

What is StoriesCoin?

Stories is a Cryptocurrency dedicated to supporting the brilliant work of artists worldwide.

Be it written, filmed, painted, or coded, Stories wants to unearth it and give it the credit it deserves.

Stories is a SHA-256 coin, and with mining being far too centralised these days it poses a problem for those without mining power. There are many who would like to be involved but cannot get a large enough stake during a coin’s launch to benefit if the coin is a success.

Taking this on board, when Stories was announced it followed a similar distribution model to NEM, except that the opportunity to claim an equal stake was in only 5% of supply and was completely free to anyone who wanted to take part.

There is a second way to take part in Stories if you don’t have great mining power. The alternative method to “mine” Stories is to tell one. 500,000 STY are held to pay out blocks of 3000 STY to anyone who tells a great story, be it written, filmed, painted, whatever.

Release date: February 12th, 2014

Specifications

  • Algorithm: SHA256
  • Alternative Algorithm: Story Telling (addressed in release)
  • Block Reward: 3,000
  • Block Time: 2 Minutes
  • Block halving: 10,000 Blocks
  • Total coins: 60,000,000
  • Trade Confirms: 6 blocks
  • Currency symbol: ς
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