Bitcoin has been the forerunner, setting the precedent for this revolutionary financial evolution. Yet, as the crypto world continues to expand, we’ve seen the emergence of various digital currencies, each armed with distinct features, attempting to raise the bar. As a novel addition to the crypto stage, Stohn Coin offers some exciting nuances that set it apart from Bitcoin. Let’s examine how these two cryptocurrencies stack up against each other.
The Groundwork
Established in 2009 by a mysterious entity known as Satoshi Nakamoto, Bitcoin employs a proof-of-work algorithm and utilizes the SHA-256 hashing algorithm. With a capped supply of 21 million coins, Bitcoin recalculates mining difficulty every 2016 blocks, and miners receive a halved reward every 210,000 blocks or approximately every four years.
Fast-forward to 2021, and we see the debut of Stohn Coin, injecting fresh technological facets into the crypto ecosystem. Stohn Coin’s mining process hinges on a script algorithm with a max supply of 40 million coins. The block reward for mining Stohn Coin stands at 100 coins, and with a block generation time of 5 minutes, it outpaces Bitcoin in transaction processing. Moreover, Stohn Coin uses the LWMA3 (Linearly Weighted Moving Average 3) algorithm for dynamic mining difficulty adjustments and undergoes halving every 200,000 blocks, a notably more frequent pace than Bitcoin.
Transaction Speed and Scalability
Bitcoin’s relatively slower transaction speed and scalability limitations, courtesy of its 10-minute block time, have been a sticking point for critics. As the Bitcoin network grew denser with increased adoption, it encountered issues with slower transaction confirmations and escalating fees.
Stohn Coin tackles this drawback head-on by slicing the block time in half, thereby doubling Bitcoin’s transaction processing speed. The incorporation of the LWMA3 algorithm further ensures a steady network speed, refining mining difficulty with each block, unlike Bitcoin’s 2016-block adjustment interval.
The Mining Process and Rewards
The SHA-256 algorithm that Bitcoin mining depends on is energy-intensive, demanding substantial computational resources. Conversely, Stohn Coin’s script mining algorithm is less taxing on resources and is more environmentally conscious.
When it comes to block rewards, Bitcoin miners currently earn 6.25 coins per block (following the last halving in 2020), while Stohn Coin rewards miners with 100 coins per block. Besides, Stohn Coin’s halving interval of every 200,000 blocks is faster than Bitcoin’s, affecting the coin’s inflation rate and circulating supply over time.
The Cap on Supply
Bitcoin’s total supply is firmly set at 21 million coins, a feature contributing to its perceived value due to the element of scarcity. Stohn Coin, on the other hand, has a higher supply cap of 40 million coins, potentially boosting its distribution and accessibility, though its impact on price appreciation and deflationary tendencies might differ from Bitcoin’s.
Wrapping Up
While Bitcoin undoubtedly paved the way for cryptocurrencies, Stohn Coin has come onto the scene with unique features aimed at overcoming some of Bitcoin’s challenges. With its expedited transaction processing, dynamic difficulty adjustments, higher mining rewards, and a more accessible mining process, Stohn Coin has carved out a distinctive niche in the dynamic crypto ecosystem.
