This guide provides an overview of CacheCoin (CACH), a mineable cryptocurrency operating on a Proof-of-Work (PoW) consensus mechanism. Here, you'll find details about its tokenomics, technology, and market positioning, compiled from publicly available data.
What is CacheCoin (CACH)?
CacheCoin (CACH) is a digital asset that utilizes the Scrypt hashing algorithm. As a mineable coin, it relies on a decentralized network of miners to validate transactions and secure its blockchain. The project aims to provide a functional cryptocurrency for various transactions and applications.
Key Metrics and Tokenomics
Understanding the supply dynamics of a cryptocurrency is crucial for any evaluation.
- Total Supply: The total number of CACH tokens currently in existence is 4.19 million.
- Max Supply: The protocol is designed with a maximum cap of 10 million CACH tokens, meaning no more than this amount can ever be created.
- Circulating Supply: The current circulating supply is 4.19 million CACH, which represents the coins actively traded in the market.
These metrics are fundamental for assessing the asset's scarcity and potential value proposition. For a deeper dive into how these factors influence market dynamics, you can explore more strategies on evaluating digital assets.
Technology and Features
CacheCoin is built on specific technological principles that define its functionality.
- Consensus Mechanism: It employs a Proof-of-Work (PoW) model, similar to early iterations of Bitcoin. This requires miners to use computational power to solve complex mathematical problems.
- Hashing Algorithm: The project uses the Scrypt algorithm, which is different from Bitcoin's SHA-256. Scrypt is memory-intensive, which was initially thought to reduce the efficiency of specialized mining hardware (ASICs), though ASICs for Scrypt are now common.
- Mineable: As a PoW coin, CACH can be mined by individuals or mining pools using appropriate hardware and software.
How to Analyze CacheCoin's Market Data
When researching any cryptocurrency, it's important to look beyond the price. Market data provides context for informed decision-making.
Price and Charts: Tracking the price history through charts helps identify trends, support and resistance levels, and overall market sentiment. Most data aggregators provide candlestick charts for technical analysis.
Market Capitalization: This is calculated by multiplying the current price by the circulating supply. It gives a rough estimate of the project's total market value and allows for comparison with other crypto assets.
Trading Volume: The total value of all trades over a specific period (usually 24 hours) indicates the asset's liquidity and current market interest. High volume often accompanies significant price movements.
Frequently Asked Questions
What is the main use case of CacheCoin (CACH)?
The primary use case revolves around being a mineable digital currency for transactions. Its PoW nature supports network security, while its finite supply aims to provide a store of value characteristic.
How can I acquire CACH tokens?
Since it is a mineable coin, one way to acquire CACH is through mining. Alternatively, if it is listed on cryptocurrency exchanges, users can buy and sell it there. Always check the latest listings on reputable data platforms.
What does 'mineable' mean?
Mineable means that new coins are created and awarded to participants (miners) who contribute computational power to validate transactions and secure the network. This process involves solving complex cryptographic puzzles.
What is the difference between total supply and max supply?
Total supply refers to the number of coins that already exist and are in circulation or locked. Max supply is the absolute maximum number of coins that will ever be created under the protocol's rules.
Why is the circulating supply important?
The circulating supply is critical because it is the portion of the total supply that is publicly available and traded. It is used to calculate market capitalization, a key metric for ranking and comparing cryptocurrencies.
Where can I find the most accurate price data for CACH?
Reputable cryptocurrency data aggregators provide real-time and historical price data, charts, and market metrics. It's advisable to consult multiple sources for the most accurate and up-to-date information. To view real-time tools for market analysis, many platforms offer comprehensive charting features.