Clams Wallet ($CLAM)
Securely store, send, receive and exchange your Clams with Coinomi!
CLAMS is a peer-to-peer payment network where transactions are verified and enabled by a collection of computers in the platform's network. This network works like the Bitcoin network where it has its foundation. The computers on the network work in sync creating and transferring funds from one person to another. Every transaction has to go through a thorough protocol to ensure consensus and verification. The network has to ensure independent as well as collaborative verification of all transactions to ensure fairness, security and transparency. Using PoS (Proof-Of-Stake) consensus mechanism, it allows all computers in the network to participate in the verification process irrespective of their computing power.
CLAMS network utilizes CLAM coin as the transacting currency. This digital currency utilizes PoS consensus mechanism saving on energy and allowing more people to participate in the network and was never premined. Users only need to run the CLAMS software in their computers to become part of this network. The process of CLAMS distribution follows a lottery system where a winner is rewarded every minute with a new dug-up clam. The single CLAM block reward means that 525,960 CLAMS are created every year. In terms of verification, one new user is selected every minute to verify any pending transactions. CLAM is compatible with Coinomi wallet and is listed for trading on several exchanges including Poloniex, Bitsane, Cryptopia, Trade Satoshi and YoBit.
NB: CLAM uses PoS not PoW