ChainCoin
Launch: 30 may 18:00 UTCAboutThe unique feature of ChainCoin is it's layered blocks system. No more waiting around for unreliable block times.
ChainCoin adds a new layer to the blockchain every 10 minutes even if only 1 out of 20 blocks were found.
ChainCoin's ~30 second blocktime makes transactions faster while still being just as secure as a 10min blocktime coin.
Since a new layer is created every 10 minutes even if not all the blocks in the layer are found there will most likely be less CHAIN than in the specifications.
If all 20 blocks are found within 10 minutes the next layer will be created early.
The first 5 layers (50 min) will be guaranteed 10 min with unlimited 0 reward blocks to avoid an insta-mine.
POS Layers will only be 5 min as opposed to 10.
Specifications- Algorithm: X11
- Total coins: POW < ~1000000 CHAIN
- POW layers: 1000
- POW time: ~7 days
- Layer Time: <10 minutes
- Block Time: ~30 seconds
- Coin Maturity: 25 Layers
- Min Coin Age: 5 hours
- diff retarget: Every Layer
- Min Tx Fee: 0.00002 CHAIN
- Premine: 0% (IPO 5%)
- POS:
- First year 50%:
- Second year: 20%
- Third and subsequent years: 2%
Block Rewards + blocks per layerLayers 1 to 5: (10 min)
X blocks 0 reward (to avoid insta-mine)
Layers 6 - 500(<10min)
20 blocks
80 CHAIN reward
Layers 500 – 1000(<10min)
20 blocks
20 CHAIN reward
Layers 1000+ (5 min)
POS
IPO: ~5% of POW ( 50000 CHAIN) will be used for an IPO
1 BTC = 5000 CHAIN
To purchase CHAIN send BTC to 148qdC2GpjzrapWnF4njn6EVVAP6oyWjgF with a signed message containing your bitcointalk username. Then at release send me a PM with your ChainCoin adress.
IF you wish to stay anonymous send BTC to 148qdC2GpjzrapWnF4njn6EVVAP6oyWjgF and then send another signed message at release containing your ChainCoin address.
Minimum purchase amount: 0.01 BTC any BTC received under that amount will be refunded to the sending address. coins sent after IPO is over will also be refunded.
The raised funds will go to:- Bounties(~1%)
- Marketing(~1%)
- Further development of ChainCoin(~3%)
Possible additionsWe are considering adding these before or after the release. Feel free to leave suggestions on what you would like us to add.
Exchanges:Pools:
Multipool:Sha256, Scrypt and X11 multipools will be released when POW ends.
Bounties: - New logo 400 CHAIN
- Exchanges: 400 CHAIN
- Translations: 150 CHAIN
Source, wallet and conf will be released at release.