What Is Clams (CLAM)?

Clams (CLAM) is an altcoin that is given away to all addresses on the Bitcoin, Dogecoin, and Litecoin networks, each holding an amount of "dust". Dust is just a tiny amount of cryptocurrency left over after a transaction. CLAM also uses proof-of-stake (POS) to secure the network and distribute new Clam Coins to the network.

Clamcoin has no traditional mining. Bitcoin, Dogecoin, and Litecoin do all the traditional cryptocurrency mining. Proof of work is awarded by CLAM to those addresses holding balances. Cryptocurrencies BTC, DOGE, and LTC are all based on SHA-256 encryption. This means that although they both have different public keys, they all share the same private key. SHA 256 is part of the SHA 2 family of algorithms, where SHA stands for Secure Hash Algorithm.

The purpose of CLAM is to let people experience proof-of-stake (POS) without needing to participate in the process themselves. Clamcoin is not only a coin; it is also a digital miner. CLAMs mine CLAMs in the POS network. This means users don't need to cash out CLAMs to acquire mining rigs; they just connect to the internet to earn CLAMs and CLAM farms. Unfortunately, there is no CLAM-staking (mining) on ​​cold wallets. Wallets must actively contribute to the network to have a chance of earning block rewards.

Clamcoin blockchain time happens every minute on average, and each block contains the miner's fee plus a 1.0 CLAM block reward bonus for the miner or pool that staked the block. A CLAM block reward bonus results in approximately 1,440 new CLAMs being minted daily. These new coins help encourage people to hold Clamcoins, a small amount of deflation helps encourage people to use their CLAMs actively, and staking helps support sites that accept CLAMs.

History of Clams (CLAM):

Clamcoin (CLAM) was created in 2014 by Scott Llewellyn (aka X), CTO of FreeBitcoins.com. FreeBitcoins’ CEO Steven Steiner has been a significant holder of CLAM since 2014.