Bitcoin Forum

The Transcoin team is pleased to announce the upcoming launch of our crypto currency, scheduled for Saturday May 24, 5:00 PM GMT

Algorithm:   Scrypt
Blockchain:   Proof-of-work
Total coins:   63.000.000
Block reward:   10 (no halving)
Block time:   2 minutes
Difficulty retarget: Every block using DigiShield

Windows Wallet:  https://mega.co.nz/#!6I8S0ApC!EpMS-1h70Fw_9aIaYebcTqgptUunN1tirLDHon_1NDU (https://mega.co.nz/#!6I8S0ApC!EpMS-1h70Fw_9aIaYebcTqgptUunN1tirLDHon_1NDU)

http://i57.tinypic.com/abhnr.jpg

Here is more information about Transcoin:

Basic Information:

Algorithm:   Scrypt
Blockchain:   Proof-of-work
Total coins:   63.000.000
Block reward:   10 (no halving)
Block time:   2 minutes
Difficulty retarget: Every block using DigiShield

Premine: ~100k already mined during live testing

Pools:

http://trn.pool.mn/ (0% fee)

Q & A

How did you come up with the name Transcoin?

You have to admire the creativity in the crypto community, when it comes to naming a coin with so many out there. Admittedly, coming up with a name wasn't an easy job at first. We felt like branding was important to widespread acceptance and adoption, and we wanted a name that could be taken seriously. On a lighter note - we also wanted a name that most people could spell and have a general sense of the meaning behind the name. But when we thought about how crypto currency is all about transactions, transferring funds, and transforming the way we do finance, we naturally came up with Transcoin, One of our main focuses will be on creating a brand that will resonate with the general public, and that all types of businesses can take seriously when considering what crypto currencies they are willing to accept for payment.  


Are Transcoin transactions anonymous?

Although many in the crypto community feel that anonymity is one of the most important features, we are not implementing built-in anonymity into Transcoin at this time. One of the biggest hurdles for crypto currency to overcome in the near term, as far as gaining mainstream acceptance, is the looming regulations that are certain to come. These will vary from country to country, but in general, they will all address concerns about illegal use, especially money laundering. If they feel they can't adequately address these concerns, they may decide to ban cryptos entirely. Full anonymity, in our opinion, would make the possibility of an outright ban more likely, or at the least make the regulations too strict, possibly to the point to where crypto currencies can not be a viable alternative to traditional means of electronic transactions. We understand the legitimate concerns of your information being available in a public ledger, but at this time we recommend common sense methods to ensure some privacy. Many will disagree with this point, but we are not trying to create an underground currency, we are trying to create a payment system that will enable end users and businesses to save money on transaction fees. That's our primary goal, we do not have any other philosophical or political agenda.


What is this Development / Marketing Subsidy?

(Development subsidy removed - we'll simply buy up coins while cheap to pay for future bounties etc.)

Why Proof-of-Work?

It is our opinion that of all of the concepts out there, proof-of-work is still the best overall as a solution to the Byzantine Generals' Problem, and as a distribution method. It's not perfect, but initially Transcoin will use proof-of-work. We could have been tempted to go with whatever is the latest buzz, but our goal is not to generate hype with technologies and algorithms that have yet to be proven superior. So until we develop something far superior and that we can test and prove to be a fairer distribution method without sacrifice to the security of the network, we will stick with proof-of-work. That being said, don't think for a second that we are not amazed at the ideas and innovations that those in the crypto community have come up with to address what we all know to be shortcomings of crypto currencies. We know that these ideas will help lead to the future success of cryptos.


Where is the source code?

Initially, we will not be releasing the source code to the general public. In the early stages of development, we do not want our ideas immediately ripped off and used in an untold number of clones. We will have a blockchain explorer available immediately at launch to provide some transparency so that people can monitor the blockchain to make sure nothing odd or fishy is going on and so that the pre-launch mined blocks during live testing can be verified. A note about the pre-mined blocks, from blocks 1 through 2910, the subsidy was 5 TRN, at which point we decided to change it 10 TRN per block. There will be no halving, as we feel that halving causes too much of an impact on the price. So it will remain at 10 TRN indefinitely until all coins (63 Mil) are generated.  Pool operators can contact us for support needed to get their pools up and running.

So what is so different about Transcoin?

There isn't anything that is groundbreakingly different about Transcoin upon initial release, but we have plans/features that will be announced once development is complete. We are in the beginning stages, and we aren't looking to hype or  feed you the latest buzz. We have a purpose and a plan, and ideas which we will develop over time. We look forward to working with others who share our goals, either as new team members or in partnerships, to help us create a crypto currency that can succeed in the mainstream. One of our primary goals is to make a user friendly system that anyone can understand and use. We realize that many will not share our views, or understand our approach. and there is nothing wrong with that. Diverse ideas and opinions is what will ultimately drive crypto currencies to the forefront of finance.


Regards,
Transcoin Team

more info?

hope you can make it good one ;)

Anything new here?

Scrypt?  PASS

http://trn.pool.mn/ is ready for pre-registrations!
Mining will be available when TransCoin launches!
Feel free to register and configure your miners before the coin launch

http://trn.pool.mn offers:
• 0% fees
• Powerful dedicated server
• DDOS Protection
• Friendly support via email, jabber or support forums
• Skilled admin

Please, join us (http://trn.pool.mn)

http://pool.mn/Themes/Dilber/images/theme/logo.png (http://trn.pool.mn)

Edit: Added additional information to original post.

100k for test? So basically about 3.5 days of instamining?  ::)

That was actually over 4 weeks of mining on and off during testing involving all members of the team and a few outside testers. Since we decided on a small pre-mine, we decided to just leave the blockchain as is, instead of starting a new chain with an instamine. You will be able to see exactly what was mined and when at launch time, since we will be including a blockchain explorer.

Regards,
The Transcoin Team

After talking to other members, we have decided to go ahead and post the link to the blockchain explorer.  Here is the blockchain explorer showing what has been mined so far: http://107.170.87.179:2750/

Regards,
Transcoin Team

Original Post has been updated to announce that the launch will be Saturday May 24, 5:00 PM GMT

scrypt, i dont think it's a best choice

Wow this is bullshit,  this coin is crap anyway but this statement went far beyond the regular shitcoins stupidity.

We do not expect everyone to agree with our approach, and we respect your opinion. This initial launch is mainly to secure our name and get the ball rolling. Our primary goal is to develop an alt coin that can gain mainstream adoption and acceptance. That's not going to happen overnight, and it will take time for us to implement everything that we think will accomplish our goals.

Also, we are trying to take a realistic approach, as to what can really succeed in the real world economy. We are not here to tell you what you want to hear in order to hype what we are doing here. If we succeed over time, which we are dedicated to seeing our vision come to pass, then at that time you might reconsider. As with all new alt coins, we understand skepticism and caution, which is a sane and rational response.

The Transcoin Team

Lunch delayed?

Another coin with 100 000 premined and 10 block reward + each block diff retarget.

What are you expecting for? Dump premine? To the moon? To the hell.

https://i.imgur.com/ii6qLFK.jpg

launching at the same hour of another coin, so you can instamine more?

nice strategy

To be honest, I had no idea some other coin was due to launch at the same time. Our launch will be in 15 minutes.

BTW, I lol'd at the overclocking pic ... :-)

supercoin  announced british summer time , they changed it
the Launch is delayed by 1 hour , so gmt +2 6pm

Trans launch is delayed, or supercoin?

supercoin ..  
Launch is  6pm gmt+2
     

Official Launch starts now ...

The Windows wallet is now available for download: http://75.66.93.69/transcoin.zip (http://75.66.93.69/transcoin.zip)

Regards,
The Transcoin Team

Link won't load.

That speed... 50 kb. Nice.
Premined + Instamined while others trying to download.

Doesn't even load for me

exactly how many moe coins could you guys need? good grief.

haha n1 ! great Thing  :-)  works fine
surprised about your upload Speed :-)  ;D

works fine for even more instamine, yeah. For one person. guess who.

Yeah..not loading for me. I'm out.

Where is the source and conf?

Alternate download link: https://mega.co.nz/#!vZswRIhR!s4Qy8BBmVZABmxs-DvaeAWO8kru0VNQlYkE4qC0ecdM
 (https://mega.co.nz/#!vZswRIhR!s4Qy8BBmVZABmxs-DvaeAWO8kru0VNQlYkE4qC0ecdM)

Lol even wallet syncs slowly. 11000+ blocks

Premined. Instamined. Super low block reward. What a scam.

everything works fine,  no Errors , still find some blocks

thank you @ dev

{
"blocks" : 11670,
"currentblocksize" : 1000,
"currentblocktx" : 0,
"difficulty" : 0.03774140,
"errors" : "",
"generate" : false,
"genproclimit" : -1,
"hashespersec" : 0,
"networkhashps" : 24114,
"pooledtx" : 0,
"testnet" : false
}

11653 Blocks on your Block explorer + No Source at Launch, geeze, Why not Check out Denarius It's so Much better than this, you's are all just copying from it.

Pools get source yet?

Nope.

We are very pleased with how the difficulty is adjusting up. About 100 blocks were mined the first 45 minutes, where there should only be 30 per hour. But at least it didn't allow a ridiculous amount of blocks to be mined as hashpower was quickly added. We should see the same fairly quick adjustment down if a significant amount of hashpower drops off.

Regards,
The Transcoin Team

i would say if u got some pools , you will have the hashrate which u are missing .

What did you pre-mine 100000 plus coins for?  I see no bounties for pools, exchanges, translations, wallets, apps, Goods and services.

We are just getting started here. Those things will come.

Regards,
Transcoin Team

transcoin as in transgender coin?   ???

You need a better pool than trans.pool.mn

They steal coins.

LOL, no - this coin is for everyone. The explanation for the name is in the original post. :-)

already 7h gone

this released yet?

Yes, see  the top post for links to the wallet

transcoin:

REMOVE OUR POOL FROM YOUR OP. DO NOT WANNA WASTE ANY TIME ON THIS "NO SOURCE" COIN.

Our coin isn't dead just because miners do not want to mine because they can't easily mine a bajillion coins to dump on the market for an easy profit.  We expected that to be the case, our work goes on regardless.

Regards,
The Transcoin Team

Transcoin wallet has been updated with adjustments to the difficulty algorithm. This is a mandatory update:

https://mega.co.nz/#!6I8S0ApC!EpMS-1h70Fw_9aIaYebcTqgptUunN1tirLDHon_1NDU
 (https://mega.co.nz/#!6I8S0ApC!EpMS-1h70Fw_9aIaYebcTqgptUunN1tirLDHon_1NDU)

Regards,
The Transcoin Team