Rarecoin (RARE) is a cryptocurrency which derives value primarily from it’s rarity, a permanently limited supply of 10,000 coins. Some collectables are sought after solely for reasons of exclusivity, the demand for such items stems from the limited and unique nature of the items. Examples would include a first edition book, or a limited and numbered print of an art work. This is what we hope to achieve with Rarecoin.
Technical details
Algorithm: SHA256
Maximum supply: 10000.002528
Minimum valid amount: 0.00000001
Block time: 5 minutes
Difficulty re-target: 1 week
Block maturity required to spend coinbase: 101 confirmations
Amount owned by developers and testers (approximately): 500 (5% premine)
Block reward/schedule: 0.00317098 per block for approximately 28.5 years.
Mining detailsA mining pool is not yet operational, but we aim to have one set up soon. This coin can be solo mined in the same way as other SHA256 coins, using bfgminer (for GPU's) or minerd (for CPU's).
Example solo mining instructions for Windows:
1. Create a file called rarecoin.conf and put this in the file:
server=1
rpcuser=yourusername
rpcpassword=yourpassword
gen=1
2. Start running rarecoind.exe
3. For CPU mining, run .\minerd.exe --user yourusername --pass yourpassword --url=http://127.0.0.1:7559/ --a=sha256d --coinbase-addr=YOUR_PAYOUT_ADDRESS
4. For GPU mining, run .\bfgminer.exe -S opencl:auto -o
http://127.0.0.1:7559 -u yourusername -p yourpassword –coinbase-addr=YOUR_PAYOUT_ADDRESS
Bounties:
TBA
Future plans
With the exception of any possible bug fixes, we do not plan to add any additional features to Rarecoin. Any relevant changes to future releases of the Bitcoin codebase will be incorporated into future releases of Rarecoin software. Rarecoin is just a rare cryptocurrency, and nothing more.
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