Blackcoin is a peer-to-peer cryptocurrency. Blackcoin uses a proof-of-stake system and is open-source. Blackcoin was created by the developer Rat4, with the goal of proving that Blackcoin's way of disabling proof-of-work is stable and secure. Blackcoin secures its network through a process called "minting". Transactions in Blackcoin were called "significant" in a Citibank whitepaper.
Blackcoin is the first hybrid PoW/PoS altcoin to hit the Proof of Stake only stage. Blackcoin is a fork of Novacoin cryptocurrency that occurred at the end of winter 2014. The developers of Blackcoin claim that they are the first who were able to apply a clean Proof of Stake in practice. Thanks to PoS V 3.0, all coin holders receive rewards in the form of dividends. The amount of dividends varies from 1% to 8% per year.
Blackcoin faucets are a reward system, in the form of a website or app, that dispenses free blackcoin in the form of a blackoshi, which is a hundredth of a millionth BLK, for visitors to claim in exchange for completing a captcha or task as described by the website. There are also faucets that dispense alternative cryptocurrencies. Rewards are dispensed at various predetermined intervals of time. Blackcoin faucets usually give fractions of a blackcoin, but the amount will typically fluctuate according to the value of blackcoin.
Free blackcoin faucet is a great way to help introduce new people to blackcoin, or to your favourite altcoin. Many faucets provide information to newbies as well as offering them some free coins so that they can try before they buy, experimenting with a test transaction or two before putting real money on the line. Since this whole area is so new and a bit scary to some people, who perhaps don't quite trust it with their hard earned cash yet, this is a great way to promote digital currency and bring in new users.