NeuCoin

Neucoin

Neucoin 1.1.0 on Windows
Initial release	September 23, 2015; 8 years ago (2015-09-23)
Stable release	1.1.1 / October 22, 2015; 8 years ago (2015-10-22)
Available in	Cryptocurrency
License	MIT Licence
Website	www.neucoin.org

NeuCoin was a Paris-based cryptocurrency announced in February 2015 by Daniel Kaufman.^[1] It is a fork from Peercoin^[2] and is thus a proof-of-stake (POS) coin that pays interest as it is staked. Neucoin was pitched to investors as a solution developed for the market of micropayments.^[3] NeuCoin raised $1.25 million from venture capital and angel funds.^[1][4] The project further raised 4,012 Bitcoin from retail investors in an ICO.^[5][6]

The NeuCoin team consisted of Daniel Kaufman, Johan Sandstorm, Ophélie Pubellier, Scott Walker, and Sandrine Ayral.^[7]

The currency was launched on September 23, 2015. The currency had a team of ten founders of backgrounds in various industries, as well as a million dollars in investment from angel investors.^[8] In April 2015, NeuCoin presold 100 million NeuCoins to future users in exchange for 4,012 Bitcoins.^[9] In December 2015, NeuCoin launched a tipping platform on the internet radio service Jango and a Facebook game called Solitaire Racer. In September 2016, NeuCoin launched a second Facebook game called SongQuest.^[10]

On 25 November 2016, NeuCoin announced that its Foundation would "cease supporting NeuCoin services, destroy its remaining coins and dissolve itself". The money raised from retail investors was not returned.^[11][12]

What was NeuCoin ?^[13]

A decentralized cryptocurrency designed for online microtransactions

• easy and useful for regular consumers
• free to get started with close to zero friction
• distributed to all who grow its value and utility
• developing tangible utility over traditional currencies by creating platforms for online microtransactions
• secure, efficient and decentralized in the long-run based on an innovative proof-of-stake technology
• supported by a well-funded non-profit foundation dedicated to maximizing its utility
• founded by a team who have launched multiple consumer services with millions of users
• backed by highly accomplished strategic angel investors
• $2.25 million in initial funding
• 100 million NeuCoin tokens presold to future users for 4,012 Bitcoins
• launched in September 2015
• first consumer applications launched in December 2015: the Solitaire Racer game on Facebook and an artist tipping platform on Jango Internet Radio,^[14][15]
• second Facebook game, SongQuest, launched in September 2016^[16][17]

Strategic Plan

The company described its plan as follows:

Foundation will pay large bounties to integrate with service providers that make it more useful: game publishers and premium digital content providers (#1 priority) exchanges (#2 priority, in all geographic markets), payment processors, cryptocurrency wallets, and international remittance providers.^[18] The foundation will also distribute small amounts of NeuCoins for free to large numbers of consumers to try it out "in exchange for consumers engaging with, trying out, and learning about NeuCoin" citing a “freemium,” user acquisition strategy.^[19]

In December 2015, NeuCoin launched a tipping platform for emerging artists on the internet radio service Jango and a NeuCoin-integrated Facebook game called Solitaire Racer.^[14][15] On January 18, NeuCoin announced that Solitaire Racer and Jango had acquired over 50,000 NeuCoin users in their first 4 weeks and were growing by more than 1,000 users a day.^[20][21] On March 11, 2016, NeuCoin announced that Solitaire Racer and Jango had acquired over 275,000 NeuCoin users, growing by 8,000 users a day.^{[22][23][24][25]} In September 2016, NeuCoin launched a second NeuCoin-integrated game on Facebook called SongQuest^[26]

Proof of Work or Proof of Stake ?

The company described its business model as follows:

NeuCoin uses an innovative PoS model with high minting awards. Over the first 10 years, the supply of NeuCoin tokens will grow from the 3 billion pre-mine (held by the NeuCoin Foundation) to approximately 100 billion – with the vast majority of the growth coming from PoS awards.^[27] PoW is for year one, as 5 millions Neucoin per month.^[28] On March 14, 2016, NeuCoin announced that the NeuCoin foundation's holdings would be cut from 3.2 billion coins to 1 billion coins by destroying 2.2 billion coins, and that a revised mining pareticipation forecast put expected total coin supply in 10 years at 10 billion rather than 100 billion as previously projected.^{[29][30][31][32]}

Neucoin PoS rewards over time :^[28]

NeuCoin block time is 1 minute, primarily to benefit users who appreciate one relatively quick (though not very reliable) confirmation for transaction processing. In addition, having a shorter block time does increase security for some types of attacks.^[33]

See also

• Alternative currency
• Peercoin
• Peer-to-peer computing
• Proof of stake

References

• Young, Joseph (2016-03-17). "NeuCoin Reaches 275,000 Users After Launch of Facebook Game and Jango Radio" NASDAQ.com/Bitcoin Magazine.
• Maras, Elliot (2016-03-17). "NeuCoin Gaining 8,000 Users a Day; Will Halve Supply to a Billion Coins". CryptoCoinsNews.
• Demartino, Ian (2016-02-06). "NeuCoin Integrated Into Music Streaming App Jango". Coinjournal. http://coinjournal.net/neucoin-integrated-into-music-streaming-app-jango/
• Dillet, Romain (2015-02-03). "NeuCoin Is A Bitcoin Alternative Designed For Microtransactions". TechCrunch. Archived from the original on 2015-04-09. https://www.webcitation.org/6Xfi6kdjR. Retrieved 2015-04-09. 
• Faggart, Evan (2015-12-21). "NeuCoin Makes Moves With Facebook Game and Tipping Platform Launch". Bitcoinist.net. http://bitcoinist.net/neucoin-makes-moves-with-facebook-game-and-tipping-platform-launch/
• Reader, Ruth (2015-02-03). "NeuCoin raises $2.25M to be a headache-free take on Bitcoin". VentureBeat. Archived from the original on 2015-04-09. https://www.webcitation.org/6XfiBX7CM. Retrieved 2015-04-09. 
• Rizzo, Pete (2015-02-03). "Uber, Hotwire Execs Back Micropayments Startup NeuCoin". CoinDesk. Archived from the original on 2015-04-09. https://www.webcitation.org/6XfiFuf87. Retrieved 2015-04-09. 
• Fletcher, Katherine (2015-02-12). "Altcoin Profile: NeuCoin". CoinReport. Archived from the original on 2015-04-09. https://www.webcitation.org/6XfiMAtr2. Retrieved 2015-04-09. 
• Suberg, William (2015-03-26). "NeuCoin Whitepaper Outlines the Math Needed for Proof-of-Stake to go Mainstream". CoinTelegraph. Archived from the original on 2015-04-09. https://www.webcitation.org/6XfitYhGF. Retrieved 2015-04-09. 
• Suberg, William (2015-04-03). "NeuCoin Whitepaper Reignites Proof-of-Work vs. Proof-of-Stake Debate". CoinTelegraph. Archived from the original on 2015-04-09. https://www.webcitation.org/6XfizJIWY. Retrieved 2015-04-09. 

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