NYC Coin to Launch Thursday

Written By Guest User

  • New York City Coin, or NYCCoin, will launch on Thursday as New York City Mayor-elect Eric Adams supports the community-led proposal for a city based cryptocurrency.

  • The New York based digital currency will be launched by CityCoins, the same company that launched the MiamiCoin. CityCoins uses the Stacks protocol which is built on the Bitcoin blockchain. The protocol enables the smart contract capability that is a part of the coin creation.

  • CityCoins tweeted on Tuesday that it would activate NYCCoin mining this week after Adams stated his desire for a digital currency for NYC like Miami has.

  • The partnership between CityCoins and the City of New York will require that NYC gets access to a reserve wallet that holds 30% of all NYCCoin mining rewards. NYCCoin users can mine the coin by swapping STX tokens on Stacks for the new NYCCoin. Users can then “stake” their NYCCoin for passive income through their mining protocol.

Guest User
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