Phoenixcoin PricePXC

What is Phoenixcoin (PXC)?

Phoenixcoin (PXC) is a decentralized, open-source digital currency that operates on its own native blockchain. It was released in May 2013 and is based on Bitcoin's architecture, positioning itself as "a digital currency for everyone." The project is designed with open-source principles in mind, emphasizing transparency, community involvement, and accessibility. Unlike many modern cryptocurrencies that require specialized and expensive mining hardware, Phoenixcoin can be mined effectively using consumer-grade computer video cards or processors.

The first block was mined on 8 May 2013 under the original name Phenixcoin. The coin was released to the public only after roughly 20,000 blocks had been produced, and it was renamed Phoenixcoin in October 2013.

Phoenixcoin utilizes the NeoScrypt hashing algorithm (N = 128, r = 2, p = 1) as its current specification, building upon the original Scrypt algorithm to ensure efficient mining and enhanced network security. It employs a Proof-of-Work consensus mechanism, with some sources also listing a PoW/PoS hybrid model. The network targets a block time of 45 seconds with a block reward of 3.125 PXC, halving every 1 million blocks.

The total supply is capped at approximately 98 million coins, with a circulating supply of roughly 93.79 million PXC representing about 95.7% of the maximum supply. The project has remained online since 2013, though trading liquidity is thin and the number of active markets is small. Its latest wallet version 0.7 was released on February 7, 2025, supporting Windows, Linux, and MacOS platforms. Phoenixcoin remains a mineable coin, allowing any participant to contribute to network security and coin generation.

Key Specifications & Tokenomics

• Name: Phoenixcoin
• Ticker / Symbol: PXC
• Blockchain: Native blockchain based on Bitcoin (BTC)
• Asset Type: Coin
• Consensus / Proof Type: Proof-of-Work (PoW); some sources list PoW/PoS
• Hashing Algorithm: NeoScrypt (N = 128, r = 2, p = 1); originally Scrypt
• Launch Date: May 2013
• Block Target: 45 seconds (originally 1.5 minutes; halved at the 2nd hard fork on 2 August 2013, block #69444)
• Block Reward: 3.125 PXC
• Block Reward Halving: Every 1 million blocks
• Difficulty Retargeting: Every 20 blocks (~30 minutes), with +2% to -5% max change
• Security Feature: Advanced checkpointing against 51% attacks
• Network Ports: P2P 9555, RPC 9554
• Max Supply: 98,000,000 PXC
• Circulating Supply: ~93.79M PXC (approximately 95.7% of max supply)
• Categories / Tags: NeoScrypt, Mineable, Scrypt
• Premine: About 1 million PXC (0.6% of the originally advertised 168 million supply) was mined in roughly 20,000 blocks before public release; no further premine exists.
• Latest Version: 0.7, released February 7, 2025
• Supported Platforms: Windows (32-bit, 64-bit), Linux (64-bit), MacOS (64-bit)
• Official Website: http://www.phoenixcoin.org/
• Block Explorer: explorer.phoenixcoin.org
• Contract Address: Not applicable — PXC is a native coin on its own blockchain, not a token.

Who created Phoenixcoin?

Phoenixcoin was founded by Phenix Crypto Systems Network Inc., a entity owned and operated by John Carmiche (known as JohnCar) and Michael Burns (known as iamatrix). The project's copyright is held by The Phoenixcoin Developers, spanning from 2013 through 2025. The founding team established Phoenixcoin as a decentralized open-source currency with a focus on community-driven development and transparency. The project has maintained an active presence since its inception, with its official X (Twitter) account joining in October 2013 and an announcement thread hosted on bitcointalk.org. The development philosophy encourages contributions from anyone, encapsulated in the project's motto: "Every little thing matters."

Development stalled in September 2013 after the PhenixEx exchange failed and co-founder Michael Burns resigned. John Doering (ghostlander) took over on 1 October 2013, renamed the currency from Phenixcoin to Phoenixcoin and rebuilt the official site at phoenixcoin.org.

How does Phoenixcoin work?

Phoenixcoin operates as a peer-to-peer decentralized network where no central authority supervises operations. Instead, peers control the network through global consensus, embodying the principle that "every peer is a master of his own." The network relies on Proof-of-Work mining, where participants use computational power to solve cryptographic puzzles based on the NeoScrypt algorithm, securing the blockchain and validating transactions.

Transactions are recorded on Phoenixcoin's native blockchain, a distributed ledger maintained collectively by all network participants. Each user runs client software—a digital wallet—that maintains a local copy of the entire blockchain, stores all transaction history, enables sending and receiving coins, and allows balance checks at any moment. This client software makes each computer a node in the Phoenixcoin network, communicating with other peers to propagate transactions and blocks.

The network implements several technical features to maintain stability and security. Difficulty retargets every 20 blocks (approximately 30 minutes) with a maximum change of +2% to -5% per adjustment, using advanced averaging across 100 and 500 blocks with 0.1 dampening. Advanced checkpointing provides protection against 51% attacks, a critical security consideration for smaller blockchain networks. Checkpointing reduces, but does not eliminate, 51% attack risk, and it relies on checkpoints published by the developers, which introduces a degree of centralization. With a 45-second block time, Phoenixcoin achieves faster transaction confirmations than Bitcoin's 10-minute target, making it suitable for everyday payments.

Phoenixcoin has undergone five hard forks. The first (block #46500, 19 June 2013) shortened the difficulty retarget interval from 2400 to 600 blocks and lowered the difficulty limiter from 4.0 to 1.8; the second (block #69444, 2 August 2013) halved the block target from 90 to 45 seconds.

What makes Phoenixcoin unique and valuable?

Phoenixcoin distinguishes itself through several key characteristics that have sustained its presence in the cryptocurrency ecosystem for over a decade. Its accessibility stands out prominently—the project does not depend on very expensive specialized hardware and can be mined successfully with popular computer video cards or processors, democratizing participation in network security and coin generation.

The project's longevity since May 2013 demonstrates remarkable resilience in a sector known for high failure rates. Phoenixcoin has maintained continuous development, with regular updates culminating in version 0.7 released in February 2025. The network's advanced checkpointing mechanism provides enhanced security against 51% attacks, addressing a common vulnerability in smaller Proof-of-Work networks.

Phoenixcoin's commitment to transparency and community involvement ensures that anyone can contribute to its development. The project has operated since 2013, but its history includes a founder pre-mine sell-off in 2013 and the collapse of the PhenixEx exchange. Phoenixcoin's shorter block target allows faster confirmations than Bitcoin's 10-minute target, although real-world payment adoption is not documented. Its established blockchain and active community provide a foundation of reliability that newer projects cannot claim.

What is Phoenixcoin used for?

Phoenixcoin serves as a medium of exchange for peer-to-peer value transfer, enabling users to send money worldwide quickly and reliably. Its primary utility lies in its function as a digital currency for everyday transactions, with the project positioning itself as "a fast and reliable way to send money worldwide." The 45-second block time ensures relatively quick transaction confirmations compared to slower networks.

As a mineable cryptocurrency, PXC provides an opportunity for participants to earn coins by contributing computational resources to secure the network. The accessibility of mining with consumer-grade hardware lowers barriers to entry for individuals interested in cryptocurrency mining. PXC trades on a small number of active markets, mainly against USD and BTC; liquidity is limited. The coin also functions as a store of value within its ecosystem, with a capped maximum supply of 98 million coins providing scarcity characteristics similar to Bitcoin.

How Is the Phoenixcoin ecosystem developing?

The Phoenixcoin ecosystem encompasses wallet software, mining infrastructure, exchange listings, and community resources. The core wallet client maintains a local copy of the blockchain and enables all essential operations—sending, receiving, and balance monitoring—while participating in the peer-to-peer network. The latest version 0.7, released in February 2025, supports Windows, Linux, and MacOS platforms, ensuring broad accessibility for users across different operating systems.

Miners can join pools such as Suprnova (https://pxc.suprnova.cc/), a NeoScrypt GPU pool with low fees and automatic payouts, or mine solo. The project maintains an official block explorer at explorer.phoenixcoin.org, allowing users to verify transactions and monitor network activity. Community activity is concentrated on X (joined October 2013) and a bitcointalk.org announcement thread, with documentation on the official wiki at phoenixcoin.org/wiki.html; trading venues are few and liquidity is thin.

In July 2013 Phoenixcoin joined Feathercoin and Worldcoin in the UNOCS alliance to build a crypto-to-fiat payment processor called the Bridge; the project was never completed and the alliance dissolved on 13 September 2013.

How to mine Phoenixcoin?

Mining Phoenixcoin requires no specialized ASIC hardware, as the NeoScrypt algorithm is designed to be efficiently mined with consumer-grade graphics cards (GPUs) or processors (CPUs). To begin mining, participants need to set up a compatible wallet to receive mining rewards, choose mining software that supports the NeoScrypt algorithm, and either join a mining pool or mine solo.

For pool mining, miners can join pools such as Suprnova (https://pxc.suprnova.cc/), a NeoScrypt GPU pool with low fees and automatic payouts, or mine solo. Pool mining provides more consistent rewards by combining computational resources with other miners, while solo mining offers the full block reward but with higher variance in payout frequency. The network's difficulty retargets every 20 blocks with controlled adjustments, maintaining stable mining conditions. With a block reward of 3.125 PXC and 45-second block times, miners can estimate potential returns based on their hash rate contribution relative to total network hash rate. All circulating PXC have been generated through mining, creating a fair distribution model.

How to keep your Phoenixcoin Coin safe?

Securing Phoenixcoin holdings begins with downloading the official wallet client from the project's website, ensuring the software is obtained from legitimate sources to avoid malicious copies. The wallet maintains a local copy of the blockchain on your computer, giving you direct control over your private keys and funds. Regular backups of your wallet.dat file or equivalent wallet data are essential, storing backup copies in multiple secure locations such as encrypted external drives or offline storage.

For enhanced security, consider using hardware wallets that support PXC or maintaining your wallet on an air-gapped computer not connected to the internet. When sending transactions, always verify recipient addresses carefully, as blockchain transactions are irreversible. Keep your operating system and wallet software updated to the latest versions to benefit from security patches and improvements. Be cautious of phishing attempts, fake wallets, and suspicious links claiming to offer PXC services. Since Phoenixcoin is a decentralized currency with no central authority, you alone are responsible for safeguarding your private keys and coins—there is no customer support to reverse fraudulent transactions or recover lost funds.

Phoenixcoin carries risks that investors should weigh. Its price is volatile and can move sharply in short periods. Regulatory treatment of cryptocurrencies varies by jurisdiction and may change. Technical risks include network security limitations common to smaller Proof-of-Work chains. These points are informational and should not be read as predictions or recommendations.