Bitcoin Forum

Alternate cryptocurrencies => Altcoin Discussion => Topic started by: peterlustig on December 17, 2013, 10:37:50 PM



Title: An Interview With Quark’s Creator
Post by: peterlustig on December 17, 2013, 10:37:50 PM
http://www.quarkcoin.cc/2013/12/17/an-interview-with-quarks-creator/

:)


Title: Re: An Interview With Quark’s Creator
Post by: KingGoon on December 17, 2013, 10:40:38 PM
Quote
Quark went from being just another crypto-currency in a long list of other alt-cryptos, to the #4 spot on CoinMarketCap.com, in a staggeringly short amount of time.

Love it  ;D


Title: Re: An Interview With Quark’s Creator
Post by: peterlustig on December 17, 2013, 10:45:24 PM
Quote
A coin called SifCoin, released on the Russian forums, caught my attention because it used six different algorithms for hashing instead of one. All coins up to that stage (that I am aware of) used only one hashing algorithm. The obvious advantage of having multiple hashing algorithms on top of each other is to make the hash as a whole more secure. If one of the hashes is ever broken, there are five more to break. I modified this approach to interweave an additional three rounds of hashing for a total of nine rounds of hashing. These three rounds use a random hashing algorithm, making it even more difficult to break. Sifcoin used an approach where block reward increases over time, making for a very inflationary money supply. I instead attempted an approach where the coin supply would stay relatively stable over time. This is achieved in two ways, firstly by producing the coins in a relatively short period of six months, instead of years as is the case with Bitcoin, and secondly to have a constant yearly coin production of around a million coins per year.
This should put an end to the "Sifcoin clone" and "Scamcoin" posts. Although I wish this paragraph would be edited into the starting post of the QRK thread.  ;D


Title: Re: An Interview With Quark’s Creator
Post by: bitrebel on December 18, 2013, 05:33:20 PM
very interesting read. Thanks


Title: Re: An Interview With Quark’s Creator
Post by: Meebo on December 18, 2013, 05:54:11 PM
Leaving aside that this interview is a bit biased, Max Guevara seems like smart and reasonable guy.

Thanks for clearing few things up.

Keeping my quarks... come hell or high water. To the moon or to oblivion :D