Proof of Burn: Slimcoin can be mined competativly on a Rasberry Pi!

[mably]

Hi, thanx a lot for all those explanations.  You should add them to the official web site btw.

One more question: is there a simple way to estimate how much miners will earn from POB mining as it is the case for POW (h/s*difficulty) and POS (percentage)?  We need this to know if we should stop or keep POB mining.  I feel like POB will burn a lot of coins and though won't be really useful/used.

[slimcoin]

The Proof of Burn Block reward can be calculated by the same way it is done in Peercoin. It has a maximum of 250 Coins as a reward and that reward halves (it follows a smooth curve) every 16x the difficulty increases. The difficulty for proof of burn is calculated differently from proof of work. It is calculated based on the amount of coins burnt in the entire network.

[mably]

So Slimcoin aims to be a POS coin and POB and POW are only supposed to be used at the beginning just like Peercoin, am I right ?

I guess you will need centralized checkpointing like Peercoin, at least at the beginning.

It will be really interesting to see how it goes, thanx for all your work.

[slimcoin]

The main idea or goal of Slimcoin can be said to be a coin that can be "mined" without hardware as if it were proof of work. In other words, it would solve the issues of GPU shortages that occured Januarry and February of this year and the ASIC preorders, etc. If one wants to buy more mining power, they simply burn coins. The burning of coins costs money, and simulates the buying process. There is little waiting (only the waiting for the burn transaction to mature). There is no supply that could run out, solving the issues of hardware back orders.

Simply put, it is meant to be mined without powerful hardware.

[mably]

Yep, the idea is great, that can make it.  I'll give it try while it's still cheap.

Hoping that all the mined coins won't have to be burnt just after ;-)

And I guess that's why you have to keep a bit of POW.

[Vagnavs]

Here is some general information about Slimcoin:

• Total 2 billion coins

Too many Coins. Should have quicker confirmations

[CryptoHobo]

how will the pow phase be handled? I'm guessing gpu/cpu
hopefully X11/ Keccak, anything other than scrypt tbh

[slimcoin]

It uses a Dcrypt algorithm which is only CPU mineable.

[aleix]

bump

[miffman]

I really like that the aggressive ASIC's can't take over. Will be interesting to watch. When will the countdown start?

[slimcoin]

I plan on releasing this or next weekend. I will have a pre-release announcement a couple days beforehand.

[CryptoHobo]

I plan on releasing this or next weekend. I will have a pre-release announcement a couple days beforehand.

tops 

[slimcoin]

Slimcoin pre-release announcement is up!
https://bitcointalk.org/index.php?topic=613213.0