The YEC coin blockchain, also known as Ycash, is a new cryptocurrency with a different purpose. It is a non-EVM blockchain and focuses on resource distribution, rather than centralization of power. This allows regular hardware to join the mining process and reduces manipulation by industrial mining farms.
Since its launch in July of this year, the price of YEC has been steadily declining. Its peak was $6.1 USD per token, but it is now hovering around $0.1 USD. While it is still early days, the YEC coin price is unlikely to rally in the near future.
Ycash uses permissionless free-market mining and assigns 95% of block rewards to users. The remaining 5% is sent to the Ycash Development Fund, a non-profit organization that develops Ycash-related software and makes the currency more accessible to the general public. Ycash’s developer is software engineer Howard Loo. The coin has a limited supply of 21 million coins.