NewYorkCityCoin (NYC)

NewYorkCityCoin (NYC) is a cryptocurrency part of the CityCoins project. It allows individuals to take ownership and support their cities. NYC is powered by Stacks, a protocol that enables smart contracts on the Bitcoin network. Mining NYC involves forwarding STX tokens into a smart contract, and miners who win are rewarded with new NYC tokens. CityCoin holders can vote on whether to distribute funds to their respective city governments, and holders also receive STX rewards proportionate to their mining commitments.

CityCoins are designed to empower everyone and encourage economic competition between cities. By mining CityCoins, individuals support their cities and help fund projects and improvements. The mining process involves forwarding STX tokens into a smart contract on the Stacks protocol, with the winner of each block reward selected randomly. CityCoins can also be stacked on the Stacks protocol, allowing users to earn STX as a reward. This STX comes from the forward STX of CityCoin miners and can further be stacked to earn BTC.

NewYorkCityCoin is part of the CityCoins project, which aims to revolutionize city funding. The project allows individuals to contribute to their cities’ growth and development while potentially earning rewards. Through the use of smart contracts and the Stacks protocol, CityCoins like NYC enable individuals to actively participate in supporting their cities and have a say in the distribution of funds. By leveraging the power of cryptocurrencies, CityCoins empowers residents to shape the future of their cities.