FAQs

Q: What is Worthless Coin?

A: Worthless Coin is a decentralised electronic cash system. Decentralised means that there is no need for a central server or trusted parties. Users hold the crypto keys to their own coins and transact directly with each other, with the help of a P-2-P network which prevents double-spending and counterfeiting.

Q: Why Worthless Coin?

A: The Worthless Coin project was created both as a joke (the name says it all!) and as an educational project. The objective is to remind the public that a currency is only worth something if it is publicly accepted and if it represents a stable store of value. Another scope of the project is to make the concept and workings of cryptocurrencies and the blockchain as widely accessible as possible.  Cryptocurrencies, blockchain, coins, tokens, mining are all terms that are understood only among a limited number of highly IT literate individuals. The idea is to bring this knowledge to anyone interested in the blockchain and its workings. 

Q: Is Worthless Coin supported and/or endorsed by anyone?

A: Any endorsements come directly from the network/community. Currently, Worthless Coin is not endorsed by anyone nor any other project. The hope is that the efforts of the project will result in future endorsements by individuals and other projects. 

Q: Who funds the Worthless Coin project?

A: The Worthless Coin project is (self-) funded by its contributors. Funding a project can be expensive and time consuming, therefore we welcome any support. To support the project you can send a donation and/or purchase of official merchandise.

Q: How do you plan to educate the public on the uses of Worthless Coin and on the workings of cryptocurrencies, blockchain in general?

A: The idea is to document the related processes and workings, simplifying the notions and explaining the terminology as much as in clear terms as possible. Supporting material will be made available on this website both in terms of videos and documentation.   

Q: I am new to cryptocurrencies and the blockchain, where do I start?

A: To familiarise with the terminology, you can start by visiting our page Vocabulary . There is also a “resources” section on this website (Go to menu tab : Resources) where you can find some useful material that can help you familiarise with the concept and workings of cryptocurrencies and the blockchain.

Q: I am an instructor, can I use the material included in this website?

A: Absolutely, please feel free to do so. For credits, please cite the Worthless Coin project. 

Q: Is Worthless Coin a coin or a token?

A: Worthless Coin is a coin. It features a standalone, independent blockchain.

Q: What is the Worthless Coin symbol?

A: WRTC

Q: Is Worthless Coin the same as Bitcoin?

A: Absolutely not. Although, Worthless Coin is based on the same technology of Bitcoin, these are two different, independent blockchains. It should be crystal clear that the Worthless Coin Project only provide access to Worthless Coins, not Bitcoins.

Q: Are you listed on a cryptocurrency exchange?

A: No, not at the moment. However, this is not to say that if the community supports the project and if there is scope for it that we may not pursue this in the future.

Q: What is the total supply of Worthless Coins?

A: Total supply is 1 billion Worthless Coins.

Q: What is the current supply of Worthless Coins?

A: Current supply (as of the time of writing) stands at roughly 100 millions Worthless Coins.

Q: What is the block reward?

A: The block reward (as of the time of writing) is 500 Worthless Coins.

Q: What is the block time?

A: The block time (as of the time of writing) is 60 seconds.

Q: Can you send/receive fractions of Worthless Coins ?

A: Yes, Worthless Coin allows up to 0.00000001 (1/1000,000) units. 

Q: Does Worthless Coin use Proof-of-Work or Proof-of-Stake protocol? 

A: Currently, Worthless Coin is using a Proof-of-Work protocol. However, it is designed to make a transition to Proof-of-Stake once the network reaches a certain number of blocks being validated.

Q: How do I get support ?

A: We have a dedicated Worthless Coin community on Reddit . Please post here any questions.

This FAQs page was amended for the last time on July 8th, 2021.