Phoenixcoin

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Launched by Phenix Crypto Systems Network Inc., Phoenixcoin (PXC), initially known as Phenixcoin, was introduced for projects like Phenix Poker and Phenix Safe Trade. Officially released in July 2013 after the 20,000th block was mined, it combines elements of Bitcoin and Litecoin. Founders John Carmiche (JohnCar) and Michael Burns (iamatrix) pre-mined about 1 million coins. Phoenixcoin allied with Feathercoin and Worldcoin to create UNOCS (United Open Currency Solutions) for joint development, but the alliance dissolved due to management issues. Phoenixcoin, with a current supply of 91,119,943.375 coins and a price of $0.01068663, remains actively traded on four markets despite no recent trading volume. More details are available at [http://phoenixcoin.org/](http://phoenixcoin.org/).

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FAQ

What is Phoenixcoin and who founded it?

Phoenixcoin (PXC) is a cryptocurrency developed by Phenix Crypto Systems Network Inc., spearheaded by founders John Carmiche (JohnCar) and Michael Burns (iamatrix). Initially launched on May 8, 2013, and released to the public after mining approximately 20,000 blocks, it is a versatile digital currency originally intended for use in projects like Phenix Poker and Phenix Safe Trade.

How does Phoenixcoin differ from Bitcoin and Litecoin?

Phoenixcoin is based on a light version of Bitcoin, integrating features from both Bitcoin and Litecoin. It uses the scrypt algorithm and follows a Proof of Work (PoW) consensus mechanism, offering a unique combination that makes it distinct from its predecessors. This design aids in efficient mining processes and broadens its functionality within associated projects.

What was the purpose of the UNOCS alliance in which Phoenixcoin was involved?

The United Open Currency Solutions (UNOCS) alliance, which included Phoenixcoin, Feathercoin, and Worldcoin, aimed to foster collaborative development and promote an integrated cryptocurrency solution. The alliance intended to enhance collective organizational strength but eventually disbanded due to management inefficiencies and Feathercoin's withdrawal.

What is the significance of the 1 million pre-mined Phoenixcoins?

The pre-mine of approximately 1 million Phoenixcoins served as a strategic reserve meant to support the launch and development of related projects by Phenix Crypto Systems Network Inc., including Phenix Poker and Phenix Safe Trade. This pre-mine strategy aimed to facilitate initial funding and incentivize early network participants.

How is Phoenixcoin currently used in the cryptocurrency market?

Phoenixcoin is utilized as a digital currency across multiple active markets, although it recorded zero trading volume recently. Its total supply stands at 91,119,943.375 coins, reflecting its role as a transactional token suited for projects within the gambling category, such as poker and safe trading platforms.

What are common troubleshooting tips for mining Phoenixcoin?

To successfully mine Phoenixcoin, ensure your hardware is compatible with the scrypt algorithm and that you're using updated mining software supporting Proof of Work (PoW). Optimizing network settings and joining mining pools can enhance your mining efficiency. Regularly checking for software updates helps avoid potential errors and improves mining performance.

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