Last updated on October 12th, 2017 at 01:24 pm
Darkcoin has always specialized in privacy. Its ability to “spork” (temporarily hardfork without permanently breaking the blockchain) and make money for those supporting the blockchain (masternodes) are unique attributes over other coins. Now Darkcoin leaps ahead with another promise delivered: Instant transaction confirmations.
One drawback of other cryptocurrencies is a slow confirmation time. A block must be solved before transactions can be considered confirmed. But with its network of “masternodes,” transactions are confirmed as soon as they are done.
A masternode consists of 1000 DRK, but can earn 20% (or more) of the network’s mining rewards. According to lead developer Evan Duffield on Beyond Bitcoin:
On the Bitcoin network, you can broadcast something and a vendor can take it with zero confirmations, but if a miner comes out and releases a conflicting transaction, it will actually reverse that. Whereas, on the Darkcoin network, I’ve actually eliminated the possibility of that happening with what we’re calling InstantX. So we can do instantaneous transactions where they confirm in like 20 seconds.
Upon release of the new InstantX about a week ago, Darkcoin’s market price almost doubled to over .015 BTC. Since then, it has pulled back and settles around .00117 BTC. This author already has a token amount purchased since its launch but am looking to add more – do you think it’s a good time to add to the portfolio.