What is Phoenixcoin?

Phoenixcoin was created by Phenix Crypto Systems Network Inc., which is led by founders John Carmiche and Michael Burns. The mining of the first block commenced on May 8, 2013, although the currency became publicly available after approximately 20,000 blocks were mined, resulting in a pre-mine of around 1 million coins. Initially named Phenixcoin, it was intended for use in various projects including Phenix Poker and Phenix Safe Trade.

On July 11, 2013, Phoenixcoin, along with Feathercoin and Worldcoin, formed the United Open Currency Solutions (UNOCS) alliance to collaborate on development and promotion efforts. However, the alliance disbanded later due to challenges in development and project management, especially following Feathercoin's exit from the partnership.