What is TajCoin (TAJ) – Crypto Beginner’s Guide
Personalized blockchains have become more and more common as people get more accustomed to cryptocurrency and want to contribute to the market, whether it be for personal reasons or to offer improvements to blockchain development. TajCoin is a personalized PoW/PoS currency that was created in honor of the developer’s son, Taj.
Background on TajCoin
TajCoin was created by the same developers behind LanaCoin, both which are blockchains created in honor of the developer’s children. TajCoin is the most recent of the two and has just passed its two-year anniversary on the cryptocurrency market.
It is a decentralized currency that facilitates peer-to-peer transactions without the necessity of an intermediary. The TajCoin developer believes that personalized blockchains are the future and if so, why wouldn’t a coin be developed alongside it to aid in its evolution over time.
Thus, he has established TajCoin as a starting place for his son’s understanding of cryptocurrency and coding. It functions as both a permanent gift and an introduction to responsible banking for the next generation, while also contributing to the cryptocurrency market and the profit of individuals who invest and mine the coin.
While the developers behind TajCoin have no intention of reinventing the wheel, they have added some improvements to TajCoin to aid in its development as a successful and popular cryptocurrency.
TajCoin is a Proof-of-Work/Proof-of-Stake hybrid cryptocurrency and uses Blake2s, an incredibly powerful hashing function. It was inspired by NevaCoin, another personalized cryptocurrency. It offers pool mining, and miners can enjoy 99TAJ as a reward for every 3 minutes that they secure the blockchain. The PoW stage is set to about 7 years, which also allows the developer time to see what platforms he may be interested in building on top of the blockchain.
The yearly Proof-of-Stake reward is 3.69%. Only 36.9 million TAJ will ever be created. TAJ that have been newly created mature after 33 blocks and the developers are very confident in the mathematics and future of TajCoin.
The reception of personalized currency can be very mixed. While some are excited about the introduction of a new cryptocurrency on the market, others are skeptical of its use and the intent behind its creation. This is definitely true for TajCoin, although it seemed to have a fairly successful launch day if reactions from the miners on forums are any indication.
Unfortunately, right now there is limited information for those casually interested in TajCoin. The official website remains undeveloped, and there is no white paper or in-depth explanation besides a YouTube video. The developer has posted on forums, though, and has communicated with miners in encouraging the success of this cryptocurrency.
Whether or not TajCoin will grow to be successful in the mainstream market can not be determined, although it has gathered a bit of attention. Due to lack of information available, it is probably a more useful crypto for more experienced enthusiasts of the blockchain; less advanced users may be better off sticking to more well-known cryptocurrencies.