What is Digcoin?

Mar 5, 2018 · 4 min read

Digcoin — Pioneering the Future of Mining

In the early days of crypto mining, there were a few thousand miners whose carbon footprint was minimal as energy requirements were very low. We now live in a world where cryptocurrencies have exploded causing a drastic increase in energy consumption in countries where electricity is produced using fossil fuels. We are also now challenged with the fact that most of the mining power resides with a couple of large corporations having total control over protocol changes and hard forks are being driven by these individuals who benefit most.

Digcoin will liberate this imbalance and will bring about an impartial harmony to crypto mining. With Digcoin and the proceeds raised in this ICO, we will launch a new cloud mining company called Digital Excavators™ where we will offer a substantial discount on cloud mining contracts purchased with Digcoin. Phase two of the project will involve incentivizing other market leading cloud mining companies to accept DIG as a method of payment at a discounted rate in order to compete with the discounts provided by Digital Excavators™.

Digcoin will usher-in a new generation of cloud mining customers engaging in crypto mining. As more join, the competition will become more and more balanced and the world’s mining power will become more distributed. The acceptance of Digcoin will help to further strengthen blockchain technology and the mining industry globally.

Through Digcoin, we can help to turn the clock back on the impacts of irresponsible power consumption while also providing our coin holders with significant monetary gains. The solution Digcoin provides has all the necessary advantages to help promote the decentralized nature that cryptocurrency was intended to provide and will unite the globe as the people once again embrace competitive mining.

Our vision is to create a mining revolution for the people and the future of every blockchain transaction to ensure the stability and longevity of blockchain technology. The revolution starts with Digcoin. Mining and blockchain transactions are symbiotic. Ideally, there would always be the perfect balance of miners to blockchain transactions. To provide timely confirmations, there needs to be enough mining hash power to assist with validating transactions. Mass adoption of crypto currency has significantly hindered the speed at which blocks can be mined resulting in:
• Lengthy delays for transaction confirmation
• Lack of cryptocurrency payment adoption by major vendors
• Coin market price volatility

While anyone has the ability to mine, mining isn’t cost effective for everyone and there are many that do not have the technical skill-set nor the necessary power capacity to setup and maintain a successful mining environment. There are very few mining products built by a select few companies that are available for purchase. These companies charge substantial markup on their products making it unaffordable for most crypto investors. Existing cloud mining companies overcharge for hash power while hording a large portion hindering the rate of expansion.
We have reached a point in crypto currency that we need to cut costs and simplify the process in order to make mining more appealing to the masses. The advent of Digcoin will help promote the decentralization and competition needed for:
• high network performance
• lower hardware costs
• global participation
• future stability

Crypto currency was built on the idea of decentralization. Digcoin was developed by a group of small farm miners who have suffered through the instability of the market and would like to return mining to the people so that we can stabilize the infrastructure ensuring the future of the blockchain.

The coin will be traded on the open market at various exchanges. We are initially looking to be traded on Coinexchange.io and HitBTC.com. Other exchanges will be incorporated at a later date for future growth of the market and the coin.

Digcoin will be accepted for mining contract payment at US Based cloud mining company Digital Excavators™ with SEC registered contracts. The coin will be redeemable for cloud mining contracts at a GUARANTEED discounted rate over standard costs. These rates will be better than what the current market offers.

We intend to use some of the ICO proceeds and initial money earned through Digital Excavator cloud mining contracts to incentive leading cloud mining companies to accept Digcoin.

80% of proceeds will be used to cover the following expenses for the build-out Digital Excavators™ cloud mining company:
• mining farm capital expenses
• employee salaries
• operational costs
• real estate expenses
• taxes and legal fees

20% of proceeds will be used for future growth and expansion of Digcoin:
• incentive agreements with leading cloud mining companies to accept Digcoin
• research & development

Digcoin Specifications:
Type: POW/POS Hybrid Blockchain
PoW Algorithm: Scrypt
PoW Block Reward: 3 DIG
Block Time: 120 Seconds
Difficulty Retarget: Every Block
PoS Reward: 10% Annually
PoS Minimum Staking Time: 1 Hour
PoS Maximum Staking Time: Unlimited
Coinbase Maturity: 15 Blocks
Max Supply: 70,000,000
Coins Premined: 50,000,000

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