BUY / EXCHANGE instantly
Max Supply Algorithm Proof Type Start Date Twitter Website
7000000 2017-03-11 Honey
DifficultyAdj. BlockRR. BlockNo. Network H/s Current Supply Block Reward
0 0 0 1
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What is Honey (HONEY)?

Honey (HONEY) is a cryptocurrency that began as a hybrid of Proof of Work (PoW) and Proof of Stake (PoS) systems from its inception. This hybrid model was designed to leverage the security aspects of PoW while transitioning into the energy efficiency of PoS. The PoW mining phase was operational until block 500,000, at which point it ceased, leaving PoS as the sole mechanism for transaction verification and network security. Honey was built using the Blake2s algorithm and had specific features such as a block time of 3 minutes, static rewards (1 HONEY for PoW and 2 HONEY for PoS), and a maximum supply cap of 7,000,000 HONEY. The network also included designated P2P and RPC ports, along with a testnet with different port configurations.

What is Honey (HONEY) used for?

Honey (HONEY) functioned as a medium of exchange within its network, enabling users to carry out transactions and transfer value. During the PoW phase, miners could earn HONEY through mining activities, while in the PoS phase, coin holders could earn rewards by staking their HONEY. The incorporation of a PoS mechanism from the beginning indicated an emphasis on promoting user participation and network security. The coin's economic model was highlighted by the static reward structure and the absence of block reward halving, alongside a relatively fast block time and coinbase maturity for efficient transaction processing.

Who created Honey (HONEY)?

The creators of Honey (HONEY) are not explicitly identified. The development followed a decentralized model, with contributors working independently and merging features or fixes following community consensus. The project's development guidelines indicate a structured approach to incorporating changes, emphasizing coding standards and ongoing maintenance.

The official Honey ticker is “HONEY” and traded under that name on all the exchanges where it had been listed. The designation “HONEYCOIN” is for only.

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