Sexcoin is a community based open source software project. As such, there is no one "owner" or "manager". While this means development can be chaotic, it also means the community attracts the efforts of truly creative and talented people.
Sexcoin is one of the older currencies, and while it has drawn criticism for the speed of it's development and a lack of promotion, it has outlasted many coins. Quite simply the developers of Sexcoin believe in it's potential and are willing not only to build the infrastructure it requires for widespread adoption in the industry, but take the time to ensure product quality and security.
In an atmosphere of increasing belief in quick profits, currencies that rely on gimmicks or celebrity for their success and abandoned and failed currencies, Sexcoin and it's community stand out for the commitment to a long-term plan for success.
To quote "Lavajumper", an IT professional who manages the projects code :
"Sexcoin is a long-term project, if you're looking to get rich overnight, this is probably not the coin you want. In our early strategic planning, we developed a 2 YEAR strategy. We are not just on track for that strategy, we are ahead.
The total supply of Sexcoins will be limited to
Sexcoin has a block time target of 60 seconds with 6 confirmations required. This means that transactions can be verified rapidly which is ideal for applications in adult industries.
Sexcoin is a Scrypt based coin with an initial block reward of 100 coins that reduces by half every 600,000 blocks. The current block reward is at 25 coins. Difficulty is re targeted every 30 minutes to ensure 1 minute block times.
Sexcoin is ANONYMOUS, secure, has no charge backs and most importantly has ZERO FEES for receiving payments.
The Sexcoin team is committed to working with merchants and service providers to help achieve their goals. It is a quick an easy way to add micro transactions to you services.
Bitcoin has shown the world the future of currency, so why use Sexcoin? Sexcoin is solely targeted towards the adult sector, as such it can offer a more customized experience for its users.
In the most specific sense, a paper wallet is a document containing all of the data necessary to generate any number of Sexcoin private keys, forming a wallet of keys.
However, people often use the term to mean any way of storing Sexcoins offline as a physical document. This second definition also includes paper keys and redeemable codes.
A paper key is a single key written on paper that is used multiple times like a wallet (this is strongly discouraged). A redeemable code is a single key intended to be funded and "redeemed" only once: these are commonly used for gifts and as part of physical Sexcoin coins/notes.
QR is short for Quick Response (they can be read quickly by a cell phone). They are used to take a piece of information from a transitory media and put it in to your cell phone. You may soon see QR Codes in a magazine advert, on a billboard, a web page or even on someone’s t-shirt.
Once it is in your cell phone, it may give you details about that business (allowing users to search for nearby locations), or details about the person wearing the t-shirt, show you a URL which you can click to see a trailer for a movie, or it may give you a coupon which you can use in a local outlet.
The reason why they are more useful than a standard barcode is that they can store (and digitally present) much more data, including url links, geo coordinates, and text. The other key feature of QR Codes is that instead of requiring a chunky hand-held scanner to scan them, many modern cell phones can scan them.
This allows for easy and quick sending of Sexcoins to the address embedding in the QR code.
This is the integration of a webcam client with Sexcoin client. This would allow a webcam performer to directly interact with their clients via the integrated wallet
The performer would then be able to directly receive payment into their Sexcoin wallet from the clients wallet, much like a "token-tip".
Escrow is a service that provides a means of security in the handling of important property, funds, and documents. An escrow holder works with the Buyers, Sellers, Lenders and Borrowers ("the principals") involved in a transaction to assure funds and documents change hands at the appropriate point in time, after preset conditions have been met.
After the principals agree upon an escrow holder, the group must provide the holder with a set of written instructions, mutually agreed upon by all parties. The escrow holder then holds onto all important documents and funds until the written conditions are met for dispersal of these items. When all contingencies of the escrow instructions have been met or achieved, the escrow will be closed. This removes the risk of a party either taking payment without providing a service or goods, or the risk of a provider not being paid for their service.
If conditions of the escrow contract cannot be met , the funds held will not be disbursed to the seller and can be given back to the buying party. If there is a disagreement as to whether contract conditions have been fulfilled, an arbitration service must judge the contract according to the contract to determine who the funds belong to.
A Recurring Payment is a payment in which you (as a buyer or a sender of funds) provide an advance authorisation to a third party (such as a merchant or eBay) for a third party initiated payment, that is a charge to your account or credit or debit card directly on a one-time, regular, or sporadic basis.
Recurring Payments are sometimes called “Subscriptions”, “Automatic Payments”, “Pre approved Payments” or “Future Payments”. By providing an advanced authorisation for a third party initiated payment, you are giving the third party the ability to collect or reverse variable payment amounts from your Nominated Payment Source until such time as this arrangement is cancelled.
Age Verification is an important part of the Adult Entertainment Industry. With age verification, both parties can verifiy that they are of legal age. This protects both the consumer and provider from unintended actions.
Sexcoin is the first industry specific cryptocurrency targeting the Adult Entertainment Industry. The developers chose the name Sexcoin because it best fits our goal to be the currency of private, secure transactions for all things Sex related.
Statistics show that the Adult entertainment Industry has an annual global turnover of 96 billion dollars, with 28,258 internet users viewing adult material every second which are essentially digital goods. These goods are generally worth little per item, which makes the industry eminently suitable for adoption of the micro transactional business model. Due to fees charged on each transaction with traditional payment systems the industry has struggled to adopt a micro transactional business model, which has been so successful in other online entertainment industries such as gaming and music and in some cases credited with reviving them. The micro transactional business model is also more attractive to the consumer as they are no longer fettered by time constraints imposed by the subscription business model, and can pay for only the content they want, when they want.
The micro transactional business model can be adopted in addition to the existing subscription model. As such it presents to the provider a low risk way of accepting additional payments, and increasing their customer base. It has the potential to allow customers to purchase material from promotional pages affiliated to the site, increasing points of sale.
Sexcoin(SXC) is gaining wide spread adoption for digital goods in the adult industry because SXC provides a safe, private payment method. The adult industry has struggled with traditional payment methods. The use of credit cards has left the industry open to “friendly fraud” whereby customers charge back payments and “unfriendly fraud” whereby stolen credit card details are used as payment to check their validity. With banks charging fees to the content provider when this occurs, the Adult Industry is essentially high risk and has had difficulty with banks refusing to help them in their commerce. Providers of adult material have unsuccessfully searched for alternative payment systems.
The industry has in some cases adopted Bitcoin as a payment option because it eliminates this problem entirely, however while SXC has not been crafted as a global currency for all transactions and cannot compete with Bitcoin in this purpose, It has been designed and branded specifically for this niche, and out performs and can out compete Bitcoin within it. SXC is not designed for speculation as a digital commodity and does not depend on rarity for value. It is designed for commerce with enough coins being generated to make it more affordable per unit and more easily obtained by the consumer. SXC is ten times faster to confirm than Bitcoin, but the block time is slow enough to ensure the data from commerce is propagated throughout the network. It does not use experimental algorithms which may lead to instability, but relies upon proven ASIC resistant scrypt.