ClamsPrice

(CLAM)

Clams (CLAM) is a digital currency designed for fast, secure, and private transactions, operating without intermediaries like banks. It is an open-source, peer-to-peer, and decentralized cryptocurrency. CLAM was created using technology similar to Bitcoin and follows a rigorous protocol to maintain consensus and verification within its network. The project aims to provide an alternative monetary system that supports freedom, fairness, and equality.

Clams primarily uses a Proof-of-Stake (PoS) consensus algorithm, which it refers to as Proof-of-Working-Stake (POWS). This system allows CLAM holders to earn more coins by "staking" their existing coins in a wallet. Approximately once per minute, the network selects a running, unlocked client to process transactions, rewarding them with 1 CLAM. This differs from traditional Proof-of-Work (PoW) systems, like Bitcoin's, by being more environmentally friendly and not requiring intensive hardware.

CLAM had a unique initial distribution method, credited to holders of Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE) on May 12, 2014. Anyone with a core wallet client of these cryptocurrencies that held addresses with a balance above a certain threshold received approximately 4.60545574 CLAM for each qualifying address. This was an attempt to achieve a wide initial distribution.

CLAM can be bought and sold on various crypto exchanges. It may not always be readily available directly on all platforms. For instance, while it may not be directly available through LBank, users can often sign up for notifications. To buy CLAM on a centralized exchange (CEX), users typically create an account, complete identity verification, deposit funds, and then trade for CLAM. Alternatively, it can be acquired on decentralized exchanges (DEXs) by first buying a widely accepted cryptocurrency (like Ethereum or stablecoins) on a CEX, transferring it to a crypto wallet, and then connecting to a DEX to exchange for CLAM. Some platforms also mention opportunities to earn CLAM through promotions or airdrops.

Currently, CLAM can be used for: arbitrage trading (where users can buy low and sell high on exchanges due to price fluctuations), staking (allowing holders to earn more coins through its Proof-of-Stake mechanism), payments/sending (as it can be transferred to others for various transactions or donations), and atomic swaps (facilitating direct exchange for other cryptocurrencies without a centralized intermediary).

During its initial distribution, users were advised to take a security precaution: send all their existing Dogecoin, Litecoin, or Bitcoin out of their core wallets before importing their `wallet.dat` file into the CLAM client. This was crucial because the CLAM client would gain access to private keys and wallet passwords. Users were strongly urged to delete the old `wallet.dat` and create a new one for their original coins afterward.