The team behind OroCoin has successfully completed the launch phase of its cryptocurrency project. Based on the Scrypt PoW consensus algorithm, OroCoin distinguishes itself from others by pegging its block rewards to gold’s value. Following the successful launch, OroCoin is now trading on several cryptocurrency exchanges, including C-Cex.com, Cryptopia, CoinExchange.io and Nova Exchange.
The OroCoin team, with experience in the cryptocurrency sector, believes it has created a unique and creative concept. They have worked on ensuring that the currency provides value to traders, hoarders and cryptocurrency miners alike. Characteristics of OroCoin include fast confirmation times and quick adjusting difficulty. The difficulty adjustment feature is put in place to ensure profitable mining irrespective of the number of active miners at any point in time.
Horatio J, one of the lead developers on the OroCoin project, said: “’Oro’ is Spanish for gold. With this project, we wanted to set a new ‘gold standard’ in the cryptocurrency space, creating an asset that was fun and profitable for everyone,”
The next stage of the OroCoin project is to build and grow a presence within the cryptocurrency community. It will include activities surrounding dissemination of information and building relationships with other cryptocurrency businesses. Additional goals for the development and promotion of OroCoin along with the roadmap is available on the cryptocurrency’s website.