Pegascoin PGC and its unique features

One of the coins I’m pretty excited for its performance is pegascoin PGC. I would like to explain a little summary of why I’m holding this for 2018 and beyond.  

Current market cap: 240,843.58  

Current BTC Price: 190 sats 

Current BTC/USD: 16,700 

Current Coin Supply: 7,590,400 

Pegascoin is a 100% POW (Proof of Work) coin that recently launched on August 31st 2017. It’s a dagger hashimoto coin, just as ETH, EXP, MUSIC, UBQ, ELLA, WHL, etc. You can mine this coin with GPUs, preferably with AMD GPUs and a small rig can yield you an awesome quantity of coins a day. At least for now when the network is still in its early stages and mining is not as competitive as in other coins mentioned above. As an example, a rig with 100 MH/s can yield approx. 240 coins which are currently valued at $11 USD. So if you are a miner, you can expect decent monthly profits, but if you are interested in holding the coins you mine, PGC have an awesome system called “DepositaryOnBlockchain” DOB, which you can use to increase your holdings by locking them in deposits for a certain period of time and receive a percentage from each block mined by the network.  

A little bit of the technical specs of the coin: 

Blocktime: 30secs 

Miner rewards: 

Before block 500 - 5PGC  

From block 500 to 3000 - 15PGC  

From block 3000 to 150000 - 30PGC  

From block 150000 to 990000 - 25PGC  

After block 990000 - 5PGC 

NO PREMINE 

I think the DOB is an innovative concept that no other coin has (although currently other blockchains are experimenting with this type of “staking”), and is much better than your typical pos coin or masternode coin in the very most important way: IT’S SIMPLE TO USE. Being simple to understand is something most coins and tokens are aiming for in this mass adoption phase. Reputable coins are enhancing their platforms and interfaces to make them more digestible for the average user and pegascoin wallet is pretty straight forward.

In a PoS coin, your coins will stake depending on how much they represent of the total supply of coins, meaning, the more coins you have, the faster and more stable you stake, the less coins you have, the slower and less frequent you stake. PoS coins promise you certain APR %, no matter how many coins you have, but what no one tells you is that if you are a small fish, you won’t catch up with the network weight. The network weight is the total weight of coins that are staking in the network, taking maturity of the coins (how many blocks they have been staking) and amount of coins in consideration. So imagine having 10,000 coins in the initial stage of a coin, and it offers a 100% APR yearly, you will stake 10,000 more coins at the end of a year doubling your amount of coins to 20,000 by the end of the year.  

This all sounds pretty attractive for any investors, but there’s a downside: your network weight. If your network weight is too small, instead of getting constant 27.39 a day to make 10,000 a year, you might not receive any reward for 1 week, 2 weeks even a month, and while everyone else’s weight keeps increasing, yours isn’t. You will stake no matter what, but it will take you longer to receive rewards, and the longer you wait, the bigger the network weight becomes. The technical specs of a blockchain are important to calculate to see “if” and “when” your holdings are enough to get stable stakes. For some blockchains, 10,000 coins might be a very good amount to stake, and other high supply coins, 10,000 might not stake until a very long time. Sometimes, at the launch of a new coin, holding 10,000 coins would be awesome, but after 5 months, holding 10,000 might not be enough to keep up with the network weight. This is difficult to understand for the average investor and too risky for the experienced investor. Another flaw is orphan blocks. Orphan blocks are valid blocks but are not part of the main chain and are created when two miners try to mine the same block. 

A big feature of PoS coins is having masternodes. A masternode is a node holding a certain amount of coins as collateral that help in making a blockchain faster while enabling certain distinctive features such as coin mixing and obfuscation (in dash clones). What I want to mention about masternode coins is that, they are difficult to set up as you are required to have some technical knowledge to be able to run it and troubleshoot it whenever needed, and of course, you need the collateral that is sometimes affordable but most of the times they are expensive.  

Pegascoin solves these problems with its DOB system: No matter your weight; you are guaranteed to receive accruals for the determined period of time.  

No difficult setup: you open a deposit and that’s it! No need to unlock the wallet, leave it run 24/7 or anything else. 

I’ll explain in summary the DOB system but you can always check it on  http://pegascoin.com/docs/DOB%20intro.pdf 

The DOB project launched at block 150,000 for a month of testing. After that, all types of deposits were made available at block 237,000. For now, the structure is as follows: 

The block reward for the miner is 25 PGC and for the DOB 4 PGC. (remember that 25PGC per block will only be up to block 990,000)

There are 3 types of deposits: 

-100, 1,000 and 10,000 coins. 

There are 3 types of terms you can choose: 

-1 month, 3 months and 6 months.  

The APR % is: 3.45%, 31.10% and 124.41% for each term respectively, independently from the amount of coins you invested. 

Each type of deposit has a price: a maximum price and a minimum price. This price changes every 2 blocks at a rate of 1% of the maximum price, until it reaches the minimum price. At that moment, the price resets and starts again at the maximum price. For example, for a 1 month deposit of 1,000 PGC, the maximum price is 6.91 so every minute (2 blocks) the price decreases 1% of the maximum price (0.0691) until it reaches its minimum price (1.72), after hitting 1.72, it resets back to 6.91.  

The amount you pay for a deposit, whatever amount it was, goes for a developer fund which will be used to further develop the coin. This coin has NO PREMINE, which also makes the progress of the development slower considering there are no initial funds but compensates it by giving more power to the community and less risk of the dev dumping the premine and abandoning the project.  

The main difference with the DOB vs. traditional Proof of Stake is that the coins are completely locked for the period of time you chose and you will get guaranteed returns, whereas in PoS coins, you can withdraw them at any time and the pos reward system might get complicated depending of the size of your holdings. Even in masternodes, it is necessary to lock them to receive rewards, but you can always stop it and withdraw the collateral. This makes the DOB system kind of like a savings account and I think for investors at this initial stage of the coin, is a pretty good way to double their holdings if they believe in the project long term and considering the supply of the coin, holding either 10,000 or 100 right now, might represent a heavy position in the near future. It’s a nice way to prevent you from selling at bargain current prices. It will also lock a considerable amount of coins from circulation, which will make the coins circulating more scarce.  

Just as any Ethereum clone, Pegascoin can implement smart contracts, create a token ecosystem and deploy similar features in the near future so the utility for the coin can increase along with its adoption. I’m speculating that this is the purpose of the Project Orbitary that it’s in the roadmap, to give utility to the coin. But the dev hasn’t revealed what Project Orbitary is so I’m excited to hear more about it later on. 

The wallet is functional, simple to use and has a great feature: you can use it for multiple dagger coins.  Yes, you can store your UBQ, ETH, MUSIC, ELLA, etc. in the same wallet. You can check the official thread here: https://bitcointalk.org/index.php?topic=2132259.0 to understand how to “import” different wallets.  

As I stated it before, its current market cap is at 240k USD so it makes it a very low market cap coin and generally will carry more reward/risk than other more established coins, but for now, the panorama seems promising for this project to take off considering the dev is active in the community and has done an awesome job to deliver a functional wallet. The more attention this coin gets, the faster and steadier the progress can be.