BLOOMFIELD, CT--(Marketwired - Dec 17, 2014) - Paycoin, the innovative new digital currency, launched this Friday with an avalanche of support from tech gurus and investors alike. The enormous attention drove Paycoin to a $115 million market cap within only 48 hours, quickly becoming the third most popular cryptocurrency currently in existence.
Thousands of investors swarmed the new digital currency moments after its 8:00 PM launch by directing their computers to mine Paycoin. Within a matter of minutes Paycoin's difficulty rate increased by over 10,000%. As miners sought to earn Paycoins, all major online hashing power rental services sold out their full inventory to mine the new cryptocurrency. Paycoin broke records as supporters spiked the Paycoin total network hash rate to over 40 Peta hashes per second -- equivalent to more than 4 million high-power computer processors.
"Surging from 0 to 40 petahashes is unheard of," said Jonah Dorman, general manager and vice president of GAW Miners. "We launched Paycoin in November of 2014 as a new digital currency built on Bitcoin's successes while making many needed enhancements to increase merchant adoption, improve price stability, and dramatically decrease transaction times. We're pleased to see so many miners and consumers support the new currency."
"We knew Paycoin had massive support, but we didn't know just how far the popularity would reach," said Josh Garza, CEO of GAW Miners -- an internationally-recognized leader in the industry. "The incredible thing is, we've only seen the tip of the iceberg. Paycoin will continue to expand and offer services that we and others can build upon. I have confidence that Paycoin will be established as the new dominant global online currency."
Paycoin is a new, decentralized digital currency that allows merchants and consumers to send and receive payments online without the need for costly credit processors -- which can charge upwards of 10% per transaction. By eliminating these costs, Paycoin payments are virtually feeless, allowing merchants and consumers to keep and spend more of the money they earn, safely and securely.
Learn more at http://www.paycoin.com