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Friday, September 30, 2022

Woodcoin Airdrop Review : Also Earn More Points for Each Referral

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About Woodcoin Airdrop

Woodcoin Airdrop, or Logarithmic Bitcoin, is a decentralized, non-premined, mineable, proof-of-work global public currency. The unit of exchange is LOG, and it began in October 2014. It was created to solve a problem which exists with the supply economics of many public coins.

Woodcoin is giving away a total of $40,000 worth of LOG to 1,000 lucky giveaway participants. Create an account at Hermesus, complete simple social tasks and submit your details to the giveaway page. A total of 1,000 participants will be randomly selected to win $40 worth of LOG each.

PlatformTotal ValueMax. ParticipantsWebsite
ETH3,500 USDTUnlimitedClick Here To Visit
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Step No 1

Register for the Woodcoin Airdrop by creating an account.

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Step No 2

Verify your email & log in to your account.

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Step No 3

Take part in the referral program and invite 3 friends.

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Step No 4

Join Woodcoin Airdrop on Telegram group & Telegram channel. 

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Step No 5

Follow Woodcoin on Twitter & like/share the pinned tweet and tag 3 friends.  

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Step No 6

Like/follow Woodcoin Airdrop on Facebook & like/share the pinned post.  

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Step No 7

Submit your details to the Woodcoin form. 

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Woodcoin Is Reliable

Unlike many other cryptocurrencies, the mining reward isn’t scheduled to drop quickly until far in the future. The WoodCoin Ecosystem will continue to subsidize miners and keep the coin alive – allowing for low-fee transactions and improved network security.

Woodcoin is a publicly released cryptocurrency

Unlike many other cryptocurrencies, themining reward isn’t scheduled to drop quickly until far in the future. The Woodcoin Airdrop Ecosystem will continue to subsidize miners and keep the coin alive.

Logarithmic Coin Release

Woodcoin is the first coin to use a logarithmic coin release. The reward decreases continuously in a harmonic series. The algorithm that controls the creation of units of currency over time should be the first thing every educational site about a coin should present. In that spirit, here is the monetary policy of.

Elliptic Curve Digital Signatures: X9_62_prime256v1

They use the elliptic curve digital signature algorithm(ECDSA), just like most currently available public coins, to sign transactions and create public and private addresses. However, Woodcoin uses a different curve known as secp256r1. This curve was primarily used in the financial industry before Bitcoin. Some claim it is more secure as it takes better advantage of the parameter space than the Koblitz curve.

Proof of Work Algorithm: Double Skein

The use of algorithms is often vulnerable to attacks. To improve security this is the first consistent network built and secured solely with Skein2 or pure skein, a fast and robust hash function, as the proof-of-work hash function. Woodcoin Airdrop uses only Skein512 for proof-of-work, computed twice. This is similar to Satoshi’s choice to use a double sha256 hash to secure the first public coin.

WoodCoin Uses A Decentralized System

WoodСoin Reward

The coin reward sits in between stagnation and inflation, increasing logarithmically. The reward for mining today is always greater than tomorrow; however, miners will still have a reward for securing the network for the long term.

Stability and Longevity

Half the LOGs will be released in the first 200 years instead of the first four years (as BTC or LTC). However, every block is worth less than the preceding one, so earlier adopters are always rewarded, and the supply will never rise above 28.5 million LOG.

Support and Reliability

The WoodCoin Foundation maintains the economy and helps spread the word about monetary policy. The protocol has remained stable without mandatory updates since its inception in October 2014.

WoodCoin Was Created To Solve Problems

Mining should grow with a pre-set reward/governance strategy for a decentralized coin. If the reward schedule drops too quickly, the founders or early adopters own the entire structure of the coin, and there is little incentive for new miners to secure the network, leading to stagnation. Fees may boost miner incentives, but a high fee also lowers the value of the coins. If the reward schedule falls too slowly, inflation may occur.

Android And IOS SPV WoodCoin Wallet

The wallets are open source non-custodial; users can back up their private keys and have total control of their funds.

Conclusions

In reading the above technical discussion of the properties of woodcoin, an important element has been left out. They have missed the forest by looking at the trees. Chopping wood is meant to be a fun new way to approach cryptocurrency, and to encourage to leave the mines for a moment and marvel at the beauty of wood. Chopping wood is exhilarating, and while they woodcut they can think of this resource continuing far into the future due to our careful sustainable planning.

They also remember the importance of maintaining a forest, a diverse ecosystem, and to consider and respect the intelligence of the trees and the gift of fresh cool air. As cryptocurrencies move forward, and nonrenewable energy sources become further depleted, it is expected that the dual use of chopping logs and heating of homes will become more prevalent.

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