Woodcoin - Definition from the Hotspot Shield Encyclopedia

Woodcoin is another form of decentralized digital currency that is open source and uses the Skein cryptographic hash function. Woodcoin uses LOG’s as its basic unit of currency.

A main difference with Woodcoin is how it is mined and produced - Bitcoin and other crypto currencies have a reward scheme that degrades over time and halves the reward you can gain every so often.

The Woodcoin reward scheme used a logarithmic form of distribution that reduces the number of LOGs produced with each subsequent block. Woodcoin was released in 2014 and as of December 2015, there is only one market exchange that offers Woodcoin and it has yet to gain great usage or circulation.

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