Novacoin is one of the many currencies that faced issues. Lots of people did not think that it would last. It was not expected to go against top virtual coins like Bitcoin and Litecoin. Many though it was a scam, but the Novacoin value says otherwise.
Pump-n-dump schemes were big in the industry. Users mistook the Novacoin value for one. This is where investors would inflate the value of a currency, only to end up selling off and destroying the market. Nevertheless, the currency carried on.
The currency launched in 2013. It did not gain the same popularity as other altcoins at first. Novacoin almost suffered its death during its first few months. The plan here and design was to improve Peercoin’s imperfections. Thankfully, it is different from other cryptocurrencies out there.
Innovation for value
The Novacoin value represents innovation in the industry. Its modern features bring more users. More users easily reflect better value. The new currency does not use a mining model like other digital currencies. It does not follow a proof-of-work system. What it has is a rewards program for users of the coin. This is something that easily captures the interest of users.
This idea could be the answer to declining returns coin miners face. Novacoin value increases, and at the same time satisfies its users. In addition, getting free Novacoins is less complicated. There’s no need for mining computers. Everything is taken down to the simplest of forms. All of this results in an attractive system while driving the Novacoin value up.
The early days of Novacoin
Novacoin took off with a bang. Despite controversies, prices hit around $10 per NVC. This all happened in 2014. Although this was less than half of its all-time-high of $24, it was a good start. Still, only a few currencies are more valuable. The newly-introduced currency has a market cap of about $7 million during the time.
The model of rewarding miners helped stabilize the Novacoin value. Add to this another innovation that captures users, it can easily go toe to toe with the top names out there. The dual blockchain is a unique feature of Novacoin. This makes it impossible for users to double-spend. It also helps strengthen the security even more.
While the past prices do not reflect today’s Novacoin value, it has reached a more stable status. This way, users and interested parties can get into the action with confidence.