Frequently Asked Questions

A list of frequently asked questions to help you understand how it works.

What is Dimecoin?

Dimecoin is a decentralized blockchain driven “By the Community, For the Community.” Dimecoin is already implemented in real-world use today for micro-transactions, with fast transactions (seconds to transfer and confirm) with multi-layered encryption. Our intention is integration into businesses small and large.  Many other features are in the works and the community will be regularly updated as progression continues.

Is this a new team?

The current Dimecoin team began forming in the middle of January, 2018, when Ryan Downey purchased the company and formed a new team.

Is Dimecoin mineable?

Yes! Based on the Quark algorithm, DIME can be mined via CPUGPU, or ASIC miners. This ensures it is easily minable by all community members.

What is Dimecoin's max supply?

For DIME there is no max supply. The circulating supply has been reached and is the total supply: 539,096,740,560 DIME. DIME is inflationary.

What wallet can I use?

All Dimecoin Wallet downloads can be found on our Wallets page.

Which exchanges do you recommend buying Dimecoin on?

When was Dimecoin's genesis block?

December 23, 2013

Which algorithm does Dimecoin use?

Quark algorithm is 9-rounds of SHA-512 hashes of different algorithm digests

1. Blake
2. Bmw
3. Groestl or Skein
4. Groestl
5. Jh
6. Blake or Bmw
7. Sha-3 (keccak)
8. Skein
9. Sha-3 (Keccak) or Jh

How will Dimecoin give back to the community?

Our decentralized structure keeps money out of the hands of the very few. Dimecoin and the community deeply believe in helping the community. We shall donate a large portion of all funds received to the charity chosen by a community vote. The smaller portion of all funds received will go towards development and marketing to sustain Dimecoin’s growth. Dimecoin polls will be voted upon by community members. Please join and let us know, what you think!

What separates Dimecoin from other micro-transaction payment options?

We are a team of volunteers working from the generated feedback gathered from the community. We want to build the foundation for Dimecoin to be up to date with cryptocurrency enthusiast’s standards having ease of use and functionality. We are confident that our blockchain fees, and speed, are up to par with best of them. Dimecoin’s transactions allow people to buy everyday household items without having to worry about the cost, speed, or security of their transactions.

How do you plan to compete with the likes of Ripple and Nano?

We do not see others as competitors. When they overcome hurdles, advancements are achieved; we see this as a positive for the cryptocurrency as a whole. We will lean into mass adoption through various technical releases, marketing and by forming strategic integrations and partnerships to gain mainstream acceptance. We shall integrate into many gateways so Dimecoin will be capable of being used all over the globe at a negligible fee, as a fast and secure payment option. Merchants and small businesses will have easy, clean functioning wallets for P2P, POS, and eCommerce.

Is Dimecoin interested in doing a coin burn?

Not at this time.

Is there a benefit of an upcapped supply?

Yes. If we capped the supply, the transaction fees would have to increase.