v3.010.102
Quick SummaryDesigned specifically for you
No Free coins from PoSMined only on Modern ComputersShareholder-Decided Development Team
Unique Developer Team - YOU choose who developsImpervious Support and Troubleshooting Team
Voted-for Charity receives 1% of current block rewards
Special Momentum (Non-Scrypt, Non-SHA256) Algorithm
Highly Active Community - Many Activities and contests
Extreme Development, Community Support, and Productivity Rate
Limited NO GPU Mining (only 2X vs. CPUs) Introduction We are hiring. Anyone may declare their candidacy at Memorycoin Forums. Memorycoin is one of the latest and surviving crypto-currencies that do not focus on minting and mining. In our community, every coin owned is valued as an opinion to promote the development and success of the coin. A “shareholder” in Memorycoin is defined as a “Coin Holder” who owns coins in his respective wallet. Memorycoin features a dedicated team to do work for the coin. Shareholders are in control of who is elected for the coin. They may voice their opinion in elections that take place three times a day. Coins are rewarded to candidates and may be received as payment or contribution for their support of the coin.
Memorycoin is a new cryptocurrency that aims to empower the economically and financially marginalized. It allows individuals to participate in the internet economy even when they live in countries where payments are prohibited.
Individuals who do not have the resources to build specific mining machines may mine Memorycoin just as efficiently as anyone else by using a modern computer. Memorycoin also devotes a proportional amount of coins to be used by developers. Actively paid developers will ensure the increasing value of the coin. The percentage of the block-chain paid out to developers are directly controlled by shareholders.
Memorycoin cannot “die” because anyone may run for candidacy. Anyone may become the coin’s developers on a limited basis by winning tri-daily elections. Multiple candidates for any one position may also be elected in these elections. Memorycoin has five Developer positions and a Charity Administrator position available.
The voting process requires only a very trivial amount of coins. Elections are hard-coded and take place on the block-chain. There are five positions available to any users that may be voted on by any Memorycoin Holders. Shareholders may also 'spoil' their votes to prevent coins from being rewarded to candidates.
Development in the coin is correlated by our exchange rate. Memorycoin’s Developers receive reward based on the exchange rate of the coin. Developers may choose to do as they like with the coins, whether to hold or spend them. These coins consist of 1% of the current block reward, and the total supply given granted to candidates amount to 6% of the supply minted at any given time.
Memorycoin was given a ~7.3% pre-mine matured around one month after the launch to ensure the coin had a good start. Most of these coins have already been circulated throughout the block-chain and are available to buy on exchanges.
Memorycoin’s supply schedule is very aggressive. We implemented a 5% reduction in reward per week since Dec. 15, 2013. We discovered a bug in the supply schedule and have recently corrected it in the new hard-fork. The current schedule presents a flat supply rate on the block-chain until we have hit the 10 million coin limit on Dec. 15, 2014.
Initially, around 9.2 million coins were supposed to be minted during the first year of MMC minting, the rest would be mined during the second year. Afterwards 2% inflation will take place. This statement was tested and we recently corrected this in the v3 hard fork.
In the new v3 supply, Ten million MMC will be minted during the first year (this includes the pre-mine). After the first year, 2% inflation will take place. Only 200,000 coins will be minted at a flat rate between Dec. 15, 2014 and Dec. 15, 2015. After that year, only 204,000 MMC will be minted. This puts Memorycoin in a situation where only appreciation can occur, and our exchange rate will learn to accept a very stable relationship between fiat in the long-run.
Memorycoin's main forums website is located at
Memorycoin Forums, where the entire community can communicate in an organized fashion.
Our Main Memorycoin Web Page can be located at
Memorycoin.org.
Parameters
PoW Hash
Momentum (64K XOR AES-CBC x 50) with SHA512 Generation
Block target
8 minutes
Port
1968
Codebase
ProtoShares 0.8.6 (Bitcoin 0.8.5)
Block reward
280 MMC, 5% reduction every 1680 blocks
Total Coins
10 Million coins in the first year, 2% inflation thereafter.
Difficulty Retargeting
Every block with the Kimoto 'Gravity Well'.
Patched KGW time-warp exploit as of hard-fork at Block 35720.
(Heavycoin's) Temporal Retargeting Since V3 Hard-Fork
Technicals 1.
Generate 1GB PsuedoRandom data using SHA512. 2.
For each 64K block - Repeat 50 times. 2.1
Use the last 32bits as a pointer to another 64K block. 2.2
XOR the two 64K blocks together. 2.3
AES CBC encrypt the result using the last 256 bits as a key. 3.
Use the last 32bits%2^14 as the solution. If the solution==1968, the block is solved. This offers a good level of GPU and ASIC resistance due to: 1.
ComplexityPoW requires SHA512 hashing and AES-CBC encryption.
2.
AES-NI instruction setsMost CPU's have specific AES instruction sets, GPU's have no need for this and do not integrate this technology.
3.
SHA512More efficient with 64-bit operations, GPU's are only 32-bit.
Trolling posts will be deleted - please take off-topic or inflammatory discussions to another thread.
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