What is BlazeCoin (BLZ) Crypto Beginner’s Guide
BlazeCoin is a blockchain-based, decentralized cryptocurrency platform that benefits volunteer fire departments. As important and necessary as fire departments are, many of them in the United States and around the world are actually volunteer-based.
These volunteer fire departments depend on the commitment of time and energy from their local communities, and often fund their operating expenses through fundraisers, activities and events, and “fill the boot” campaigns. Due to zoning regulations and other challenges, many volunteer departments have difficulty raising all of the money that they need to protect their community.
The BlazeCoin foundation, which developed the BlazeCoin platform and its cryptocurrency, BLZ, aims to help these volunteer fire departments by utilizing the sale and exchange of its digital token to raise funds. With grants for equipment and training available, BlazeCoin aims to ensure that volunteer fire departments never have to worry if their fundraising will be enough.
With blockchain technology and algorithms that provide safety and security, BlazeCoin can be mined by users and traded on major exchanges. The platform was launched with a pre-mine of 1%, and all of the coins mined during this time will be used as matching funds. Ultimately, BlazeCoin aims to utilize the blockchain and thank volunteer firefighters for their commitments and services.
Features of BlazeCoin
BlazeCoin utilizes a Scrypt hashing algorithm, and the difficulty is retargeted every hour or every 120 blocks. The rewards for each block are 413 BLZ tokens, and the total production of BLZ has a hard cap at about 2 billion.
There’s a story behind the 413 block reward. The reason for the number behind the block reward is that one of BlazeCoin’s developers was a volunteer firefighter himself, and worked out of station 413; the number is meaningful to him, and the other developers agreed that it was the perfect way to honor fellow firefighters.
The BlazeCoin Token (BLZ)
The BlazeCoin Token, BLZ, is the BlazeCoin platform’s internal form of cryptocurrency. BLZ is what enables BlazeCoin to raise funds for firefighters. Users can mine BLZ out of their own wallets, which are available for download on BlazeCoin’s website, or they can receive BLZ payouts from their Scrypt mining activity.
BlazeCoin is available for purchase and can also be sold on the Cryptopia exchange. While the token isn’t available to be bought with USD, users can trade for BlazeCoin with Bitcoin; currently, one BlazeCoin token is worth 0.00000005 Bitcoins.
BlazeCoin aims to honor and serve the volunteer firefighters who risk their lives to save lives. Equipment, training, and firetrucks are expensive, and the funds for these necessary tools often fall to volunteer fire departments themselves.
Many of them hold fundraisers, but often times, the money comes up short and they don’t receive all the funds they need. BlazeCoin wants to change that by providing an opportunity for volunteer firefighters to receive cryptocurrency funding. Ultimately, BlazeCoin aims to benefit volunteer fire departments, by merging fundraising with the digital crypto world. The platform and its accompanying cryptocurrency is honoring volunteer fire departments around the world, one fundraiser at a time.