Bitcoin Forum

I would like to explain KimoCoin - Kimoto Coin [KMC] "Smart Block Reward System" :

(taken from the interview for Pre-Ann Blog, soon online!)

The block reward is new and interesting, what made you think of it? How do you think it will affect the coin?

We call it “ Smart Block Reward System”.

http://i62.tinypic.com/30xehcw.jpg

We thought about this kind of reward because we strongly think that classic BTC and LTC based halving method is now obsolete. Or better, after the long expierence gained in this field we thought it was the time to change a little bit!
As you can see our block reward system is based on 5 phases:

1- Anti Instamine Phase: the first 500 blocks are set to give an estabilishin network reward of 0.002KMC, to avoid the infamous “Instamine”, where big whales and mining farm can do an “unfair mining”, excluding medium and little miners gains.

2- Pre-inflation Phase: the others block rewards ,after block 500 until block 20k, start to increase gradually to let the oppurtunity to people who started mining at launch to mine some “for the moment” not so common coins.

3- Inflation stage: After block 20k until block 100k blocks reward start increasing the same as block height number, so that also late miners could have their chance to get in on the maximum block reward time.

4- Deflation stage: Then, after block 100k reached start a decrease of the block reward by 1k every 1k blocks mined. This decrease will go until block 150k when block reward will be 50k.

5- Stabilization stage: Since block 150k block reward will start decrease again until a stable block reward of 5k will be reached. At this point, the value of the coin would be almost stabilized and long term part of KimoCoin's life starts.

Tell us what you think about! :)