$66,966.00
$2,606.73
$1,300.89
$2,389.10
$591.05
$355.36
$294.43
$153.92
$66.14
$154.73
$70.81
$74.47
$50.55
Spock
(spok)
Not AvailableMarket Data For spock
| Current Price | $0.0000 |
| Market Cap | |
| Market Cap Rank | - |
| Total Volume | - |
| High 24H | - |
| Low 24H | - |
| Price Change 24H | - |
| Price Change Percentage 24H | - |
| Market Cap Change 24H | - |
| Market Cap Change Percentage 24H | - |
| Circulating Supply | - |
| Total Supply | - |
| All Time High | - |
| All Time Low | - |
Coin Data For spock
| Website | https://www.spockchain.org/ , https://medium.com/@spockchain |
| Explorers | http://www.spock.network/ |
| Wallets | ledger.com |
| Community | https://t.me/spockchain , https://twitter.com/ChainSpock |
| Source Code | https://github.com/spockchain |
About spock
Spock Coin Review: Mining Guide, Price & Analysis of Spock Cryptocurrency
Spock is a blockchain that offers decentralized storage systems backed by the Proof of Capacity consensus. This blockchain provides a technology that encourages miners to provide hard disk space. Additionally, it uses smart contracts to enable developers to launch decentralized applications.
This is a unique deployment of blockchain technology. It removes the need for centralized institutions in data storage needs. This gives users more freedom and control of their data. Spock developers believe this is the future of storage. They seek to provide an environment that is fair to everyone, environment friendly and energy conserving. The Spok coin powers the blockchain. Miners receive rewards in Spok. Additionally, it pays for transaction fees.
This deployment of the blockchain is still New. Spock has just a year in the markets. Still, they have some adoption. It is possible that this coin may see more success in future. The developers are working to ensure this blockchain is robust and versatile. The goal is for it to support all data formats. This includes videos, images and documents.
How Spock Works
Spock brings with it a new consensus algorithm. Spock uses the Proof of Capacity consensus. This algorithm calculates the hash in the hard disk in advance during the initialization phase. It then retrieves data in the hard disk during the execution stage. This ensures that the network does not need a lot of hash calculations in the execution phase.
This offers many improvements compared to the Proof of Work algorithm. It makes the network work faster. Miners do not need heavy computational power to validate transactions. Hence, the network processes transactions faster.
Spock also has a Distributed Hash Table. This feature helps the network distribute a set of keys to all nodes in the network. This allows the network to grow as big as needed. Further, the network uses this alongside the Kademlia algorithm. This algorithm specifies the structure of the network. Additionally, it defines how nodes exchange information.
On top of this, Spock uses smart contracts. This allows developers to build and deploy decentralized applications on the blockchain. Additionally, developers can launch and issue POC-type tokens.
Can Investors Mine Spock Coins?
Unlike Ethereum that ca be mined Spock coin is not available for mining. Spock uses the Proof of Capacity consensus. This is also called the Proof of Storage consensus. The job validators is to validate transactions and decide mining rights. They do this by using the free storage in their hard disk to mine the available cryptocurrencies.
In the PoW consensus, miners solve cryptographic equations to alter the numbers on the block header. However, the PoC consensus works differently. It works by storing a list of possible solutions on the mining device’s hard drive. This happens even before the mining starts. The larger the hard drive, the more the possible solutions one can store. Hence, the better chances of winning.
The network uses the Shabal, Curve25519, SHA-256 cryptographic algorithm. This is not a lightweight algorithm. However, Spock has a way to work around this. It stores the list of possible solutions on the mining device’s hard drive before the mining process. This makes the mining process simpler and after. Additionally, it requires less computational power.
The Team behind Spock
The official website for Spock does not introduce us to the developer of this coin. They operate anonymously. However, they get the benefit of doubt due to their dedication to the Spock project. They work hard to ensure the project stays up to date in protocols and technology.
Moreover, they offer customer support. They are engaging on several social media platforms. You can find the team on WeChat, Telegram and Twitter. The team is very engaging and will answer your questions immediately. Additionally, the community is very active on Reddit.
Governance
Spock utilizes smart contracts to maintain solidarity. Holders of the Spok coin can vote on the updates that the developers should implement. The smart contracts ensure that community governance is in line with the blockchain spirit.
The Spock project prides itself for being a highly community-autonomous blockchain. They credit this mainly to the smart contracts. Whenever there is an issue, community members can initiate a smart contract vote and broadcast it through the community. The holders of the currency can sign and submit a vote through the wallet program. The launch and voting of the issue remain in the smart contract, and anyone can see it.
Privacy and Security
Spock is a blockchain project. Blockchains come with excellent security features. Spock contains distributed nodes, just like any other blockchain. These nodes work together to maintain a consensus. This means they can detect a change in the system very fast. Hence, they work together to ensure the network remains secure.
Additionally, distributed nodes help each other recover from successful attacks. Any damaged node returns back to a consensus with the help of other nodes.
Miners also play a critical role in maintaining security. They validate transactions and record them on the distributed ledger. There, the transactions are immutable. The faster miners validate transactions, the better the security of the blockchain. Further, Spock employs cryptography and encryption algorithms.
All these make it very expensive to attack the network. It is better for an attacker to use the computational power to mine for rewards.
Our Take on Spock
Spock brings in a new use case of blockchain technology. It offers users the ability to store data in a distributed network. There is no need for a centralized institution. This comes with some social and economic benefits.
It gives users freedom and control over data. Users can access their data wherever and whenever they wish. There are no restrictions on how much you can store. Additionally, users do not have to worry about hefty storage fees. Spock offers distributed data storage with low fees.
This cryptocurrency has a lot of potential. It has only been around for a little over a year. Yet, it already sees some adoption. It offers something unique and needed. It is easy to get behind its value proposition.
Advantages
- Spock offers a distributed data storage solution.
- Spock is fast and secure.
- It is easy to mine Spok coins.
Disadvantage
- Spock does not have high adoption.
How to Buy Spock Coins
The easiest way to obtain a cryptocurrency is by buying from exchanges. If you want this coin in your portfolio, then you are in luck. There are exchanges you can buy this coin from. These include Bitfinix, MX.com and CoinEx. You will need a wallet to store your coins. You can use Spock’s proprietary wallet for this. It is available for Windows, Android and Linux.
The current price of Spok coins is $0.000519. This is very low. Additionally, the market cap rank is very low. Spock ranks 3041st in market cap ranking. At the time of writing this, it stands at $10,830.75.
Final Verdict
Spock has a great mission behind it. It seeks to provide a distributed solution to data storage. This is very appealing. This project has a lot of potential in the world. The developers only need to help people understand its purpose and use cases.
However, as an investment, Spok coin is still a gamble. It is still in its early stage. It is impossible to tell the direction this coin will take in the market. The only way it will see its value go up is through more adoption.
