X11 news!
I have spent time on analyzing Android wallet and API to exchanges, payment solutions and more.
At the moment new wallet with X11 would be most urgent to implement.
I am analyzing source code from Darkcoin, Megacoin and other coins.
X11 seems to be the correct choice now.
X11 seems pretty easy to implement. However we need to decide some details first.
The wallet could be updated to use Scrypt algorithm until block 50000 then it could start using X11 algorithm.
To be unique we could also introduce some unique touch like switching between algorithm un certain dates or even dynamically decided by developer at will controlled by a server without a need to update wallet.
Like on mothers day, christmas and new year we use Scrypt heating up your room and rest of the year X11 we are green and saving energy and that would be a reason to call it X12.
X12 = X11 + your mothers algorithm. Need to verify this is not causing problem because of different timezones.If too complex we start with fixed algorithm.
I also suggest to correct total coins to 50 billion as initially stated (a former developer mistake).
After some calculations in spreadsheet, this can be solved by increasing block reward for block 60000-80000 to 1500000 (1.5 million) then after block 80000 it will go back to 62500 block reward with normal block halving as before. This will benefit early miners again and is easy to understand.This next 20000 block range would be an insane mining competition :-).
There is no way we are going to introduce complex block reward algorithm like Darkcoin. Even if I am a very experienced developer it is really hard to understand the code what will be the block reward AND even worse to explain it to your grandmother.
It might be better mathematical solution but GrumpyCoin promotes simplicity and a fun currency for everyone.
Will have contact with exchanges and mining pools so we can decide date and calculate exact block start.
Questions:
1. X11 yes or no?
2. X12 or X11?
3. 20 billion or 50 billion?
Please give us feedback!
Stay tuned for updates!