What is NYCCoin, Stacks, BTC?

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p 1 Ka ching New York City is getting its own crytocurrency

New York Metropolis is getting its very personal cryptocurrency, referred to as NYCCoin. Right here’s what it is advisable know.

When was the mining launch?

Wednesday.

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How revolutionary of New York!

Certain, however it’s not the primary. Miami has a cryptocurrency, too. It’s referred to as MiamiCoin. Each had been launched by CityCoins.

It appears New York hearts crypto?

Actually, mayor-elect Eric Adams does. Final week, he tweeted that he needed his first three paychecks in bitcoin, including that “NYC is going to be the middle of the cryptocurrency business.” Then, on Sunday, he talked about throughout a CNN interview that he thinks children in class needs to be taught about cryptocurrency.

Is the coin formally related with town?

No, however Adams has already indicated his assist for it.

How does NYCCoin work?

It really works on the Stacks protocol, which permits builders to construct purposes and sensible contracts on the bitcoin blockchain.

What is the purpose of NYCCoin?

Because the CityCoins web site explains, “NYCCoin may be mined or purchased by anybody who needs to assist New York Metropolis whereas incomes crypto by way of the Stacks protocol. NYCCoin is additionally programmable, enabling builders to enhance town from their keyboard through the use of NYCCoin to construct web3 apps, mint NFTs, or in any other case enhance town’s digital infrastructure.”

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