Market Cap: $3.5914T 3.970%
Volume(24h): $136.5369B 32.180%
Fear & Greed Index:

50 - Neutral

  • Market Cap: $3.5914T 3.970%
  • Volume(24h): $136.5369B 32.180%
  • Fear & Greed Index:
  • Market Cap: $3.5914T 3.970%
Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos
Top Cryptospedia

Select Language

Select Language

Select Currency

Cryptos
Topics
Cryptospedia
News
CryptosTopics
Videos

What are the technical specifications of the Myro coin blockchain?

The Ouroboros Praos consensus algorithm utilized by Myro Coin's Proof-of-Stake network ensures fast and reliable transaction processing, allowing for quick confirmations and a smooth user experience.

Jan 08, 2025 at 06:13 am

Key Points of Myro Coin Blockchain Technical Specifications

  • Network Type: Proof-of-Stake (PoS)
  • Consensus Algorithm: Ouroboros Praos
  • Block Time: 1 minute
  • Transaction Confirmation Time: 2-3 minutes
  • Maximum Block Size: 2 MB
  • Circulating Supply: 100 million MYRO
  • Total Supply: 100 million MYRO
  • Halving Interval: None

Technical Specifications

Network Type

Myro Coin operates on a Proof-of-Stake (PoS) network, which means that validators are selected based on the amount of MYRO they hold. This incentivizes validators to maintain the network's security and stability.

Consensus Algorithm

Myro Coin utilizes the Ouroboros Praos consensus algorithm, a variant of the Ouroboros algorithm developed by the Cardano team. Ouroboros Praos is a highly secure and efficient algorithm that allows for fast and reliable transaction processing.

Block Time

The average time between blocks on the Myro Coin blockchain is 1 minute. This rapid block time enables fast confirmations and reduces transaction delays.

Transaction Confirmation Time

Transactions on the Myro Coin blockchain are typically confirmed within 2-3 minutes. This allows users to transfer funds or interact with smart contracts quickly and seamlessly.

Maximum Block Size

The maximum block size on the Myro Coin blockchain is 2 MB. This provides ample room for transaction data without causing congestion or slowing down the network.

Circulating Supply

The current circulating supply of MYRO coins is 100 million. This number represents the amount of MYRO in circulation and available for use.

Total Supply

The total supply of MYRO coins is also 100 million. This means that there will be a fixed amount of MYRO in circulation, providing a stable supply for the network.

Halving Interval

Unlike other cryptocurrencies, Myro Coin does not have a halving interval. This means that the block rewards for validators will not be reduced over time, ensuring continuous incentives for network participation.

FAQs

What is the purpose of the Myro Coin blockchain?

Myro Coin is a blockchain platform designed to facilitate secure, fast, and cost-effective transactions. It aims to provide a platform for building decentralized applications and enabling a wide range of use cases.

What are the benefits of using the Myro Coin blockchain?

The Myro Coin blockchain offers several benefits, including:

  • Security: The Proof-of-Stake consensus mechanism ensures the network's security and prevents malicious actors from manipulating the blockchain.
  • Speed: The 1-minute block time and fast transaction confirmation time enable rapid and efficient transactions.
  • Scalability: The maximum block size of 2 MB provides ample capacity for transaction data, allowing the network to handle high transaction volumes.
  • Cost-effectiveness: Myro Coin is designed to be a low-cost platform for users and developers, with minimal transaction fees.

What applications can be built on the Myro Coin blockchain?

The Myro Coin blockchain supports a wide range of applications, including:

  • Decentralized Finance (DeFi): Users can build decentralized financial applications, such as lending protocols, stablecoins, and derivatives.
  • Decentralized Autonomous Organizations (DAOs): DAOs can be created and managed on the Myro Coin blockchain, providing transparent and self-governing organizations.
  • Smart Contracts: Developers can create smart contracts on the Myro Coin blockchain to automate complex business processes and agreements.
  • NFTs: Non-fungible tokens (NFTs) can be minted and traded on the Myro Coin blockchain, representing unique digital assets.

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Related knowledge

xrp withdrawal function

xrp withdrawal function

Jan 19,2025 at 01:48pm

Welcome to the Wild World of Crypto: A Beginner's Guide to Navigating the Digital Currency JungleHey there, fellow newbie! So, you've heard about this crypto thing and you're all like, "What the heck is that?" Well, buckle up, my friend, because I'm about to take you on a thrilling adventure into the fascinating world of digital currencies!Chapter 1: Wh...

xrp price trend analysis

xrp price trend analysis

Jan 20,2025 at 11:54pm

XRPPPPPP – An Epic Adventure for Crypto NewbiesHey there, crypto-curious adventurer! I'm gonna take you on a wild ride through the magical realm of XRP, the up-and-comer that's got everyone buzzing. Strap in, newbie, 'cause we're about to demystify this crypto thing once and for all.What the Heck is XRP, Anyway?Think of XRP as the cool kid hanging out i...

what is ripple xrp

what is ripple xrp

Jan 20,2025 at 01:25pm

Yo, What's Up with This Ripple XRP Thing?Hey there, my crypto-curious friend! You've heard whispers about Ripple XRP, right? It's this cool digital coin that's been making waves (pun intended) in the crypto world. Let's dive into what it is and how it works, in a way that even your grandma could understand.What the Heck is Ripple XRP?Think of Ripple XRP...

xrp releases latest announcement

xrp releases latest announcement

Jan 21,2025 at 01:06am

XRMP just dropped some major news! Hold on tight, folks!Buckle up, XRP fam, because the team just hit us with a fresh announcement that's got our crypto hearts racing! Let's dive right in and unwrap this juicy scoop, shall we?So, What's the Buzz?XRMP, the boss behind the XRP coin, has been working tirelessly behind the scenes, and now they're ready to s...

xrp historical high point

xrp historical high point

Jan 20,2025 at 11:48pm

XRP historical high point: The wild ride of a cryptocurrencyYo, what's up crypto newbies! Got your eyes on XRP and wondering what the heck is its historical high point? You've come to the right crib. Let's hop on this rollercoaster and take a trip through XRP's highest highs and lowest lows.What's XRP, anyway?XRP is like the cool kid in the crypto block...

xrp currency price prediction

xrp currency price prediction

Jan 19,2025 at 02:41pm

Yo, Newbs! Let's Dive into XRP: The Crypto with a Shady Past and a Bright FutureListen up, rookies, it's time to get schooled on XRP, the crypto that's been on a wild roller coaster ride. We're gonna break down everything you need to know about this digital coin, from its scandalous past to its potentially epic future.What's XRP, Dude?Picture this: a cr...

xrp withdrawal function

xrp withdrawal function

Jan 19,2025 at 01:48pm

Welcome to the Wild World of Crypto: A Beginner's Guide to Navigating the Digital Currency JungleHey there, fellow newbie! So, you've heard about this crypto thing and you're all like, "What the heck is that?" Well, buckle up, my friend, because I'm about to take you on a thrilling adventure into the fascinating world of digital currencies!Chapter 1: Wh...

xrp price trend analysis

xrp price trend analysis

Jan 20,2025 at 11:54pm

XRPPPPPP – An Epic Adventure for Crypto NewbiesHey there, crypto-curious adventurer! I'm gonna take you on a wild ride through the magical realm of XRP, the up-and-comer that's got everyone buzzing. Strap in, newbie, 'cause we're about to demystify this crypto thing once and for all.What the Heck is XRP, Anyway?Think of XRP as the cool kid hanging out i...

what is ripple xrp

what is ripple xrp

Jan 20,2025 at 01:25pm

Yo, What's Up with This Ripple XRP Thing?Hey there, my crypto-curious friend! You've heard whispers about Ripple XRP, right? It's this cool digital coin that's been making waves (pun intended) in the crypto world. Let's dive into what it is and how it works, in a way that even your grandma could understand.What the Heck is Ripple XRP?Think of Ripple XRP...

xrp releases latest announcement

xrp releases latest announcement

Jan 21,2025 at 01:06am

XRMP just dropped some major news! Hold on tight, folks!Buckle up, XRP fam, because the team just hit us with a fresh announcement that's got our crypto hearts racing! Let's dive right in and unwrap this juicy scoop, shall we?So, What's the Buzz?XRMP, the boss behind the XRP coin, has been working tirelessly behind the scenes, and now they're ready to s...

xrp historical high point

xrp historical high point

Jan 20,2025 at 11:48pm

XRP historical high point: The wild ride of a cryptocurrencyYo, what's up crypto newbies! Got your eyes on XRP and wondering what the heck is its historical high point? You've come to the right crib. Let's hop on this rollercoaster and take a trip through XRP's highest highs and lowest lows.What's XRP, anyway?XRP is like the cool kid in the crypto block...

xrp currency price prediction

xrp currency price prediction

Jan 19,2025 at 02:41pm

Yo, Newbs! Let's Dive into XRP: The Crypto with a Shady Past and a Bright FutureListen up, rookies, it's time to get schooled on XRP, the crypto that's been on a wild roller coaster ride. We're gonna break down everything you need to know about this digital coin, from its scandalous past to its potentially epic future.What's XRP, Dude?Picture this: a cr...

See all articles

User not found or password invalid

Your input is correct