SONG

SongCoin (SONG) is a cryptocurrency specifically designed to invest in music, providing innovative investment products to the music industry. It operates on a decentralized network using the Scrypt algorithm and Proof of Work (PoW) mechanism, with a focus on supporting artists and music enthusiasts . SongCoin's total coinage is capped at 32,565,300 SONG, with the current circulating supply reflecting this maximum amount .

As of August 7, 2024, SongCoin's market presence appears to be inactive, with no trading volume reported in the last 24 hours and no active markets listed on Coinpaprika, placing it at 'no rank' among all cryptocurrencies . Historically, SongCoin reached an all-time high of ￥0.277809 on January 17, 2018, but has since experienced significant devaluation, with a substantial percentage drop from its all-time high .

The cryptocurrency's features include a 2.5-minute block target, subsidy that halves in 840k blocks (~4 years), and a total coin supply of approximately 84 million, with 2016 blocks for difficulty retargeting . SongCoin's development process involves a community of developers contributing to the project through pull requests and consensus on changes, emphasizing security and code quality .

In summary, SongCoin is a niche cryptocurrency aimed at the music industry, providing a platform for artists and fans to connect and transact directly. However, its current market status indicates a lack of trading activity and a low market ranking, suggesting potential challenges in liquidity and market interest .