What happened: StoneCoin's ANN is almost completely plagiarism off Gapcoin
StoneCoin ANN: [ANN] StoneCoin (NEW ALGORITM) (double speed mining) Fair launch Archive:
http://archive.is/pqWkZAnnounced by: aishabintealiFlag (type 1): https://bitcointalk.org/index.php?action=trust;flag=1831- Account creating the ANN thread is a newbie with a year and a half posting gap
- Thread is self moderated and OP deletes all posts that he does not favor
- The website domain 'stonecoin.org' has not even been purchased yet
- GitHub is 3 hours old
- There is no source code on GitHub! (only binaries and a few empty archives)
https://github.com/Stone-coin
Website: stonecoin.org (in developing)
Specifications:
PoW/New algo: custom, prime gaps
Block target time 10 seconds
Block reward proportional to the current difficulty
Block reward halving every 420000
Cap: about 10 - 30 million coins
Difficulty adjusts every block and increases logarithmic (it will probably take years to get to 50)
A newly developed miner that miners any coins with a new algorithm 2 times faster!
Download miner - (link removed)
Fair launch:
StoneCoin was not designed to enrich the early adopters or the coin creators! The more people mine StoneCoin, the more coins per block will be produced. (Coin supply will increase logarithmic with the difficulty, this means it will grow in the beginning, but later, it won't change much.)
There won't be any premine!
To avoid instamine, the reward of the first 1152 blocks (about 48 hours) will increase quadratically to its absolute value: the current difficulty. Block reward will be 1/1152^2 * blockheight^2 * difficulty for the first 1152 blocks. This should guarantee that the difficulty is stable until the blocks yield a worthwhile amount of coins.
Source code will be available before launch (excluding the PoW function), so everyone can setup their own environment, compile the software, and check if everything works.
Wallet:
Windows - (link removed)
md5: f476544e2b34133d829d585e6b9d3f7a
Source Link: [ANN][GAP] Gapcoin - Prime Gap Search - New Math Algo - CPU / GPU - Zero Premine<cut>
Specifications:- PoW: custom, prime gaps
- Block target time 2.5 minutes
- Block reward proportional to the current difficulty
- Block reward halving every 420000 (about 2 years)
- Cap: about 10 - 30 million GAP
- Difficulty adjusts every block and increases logarithmic (it will probably take years to get to 50)
Fair launch:- Gapcoin was not designed to enrich the early adopters or the coin creators! The more people mine Gapcoin, the more coins per block will be produced. (Coin supply will increase logarithmic with the difficulty, this means it will grow in the beginning, but later, it won't change much.)
- There won't be any premine!
- To avoid instamine, the reward of the first 1152 blocks (about 48 hours) will increase quadratically to its absolute value: the current difficulty. Block reward will be 1/1152^2 * blockheight^2 * difficulty for the first 1152 blocks. This should guarantee that the difficulty is stable until the blocks yield a worthwhile amount of coins.
- Source code will be available before launch (excluding the PoW function), so everyone can setup their own environment, compile the software, and check if everything works.
- Windows and Linux binaries will be distributed in an encrypted container before launch, the password will be revealed at launch.
Additional Notes:A newly developed miner that miners any coins with a new algorithm 2 times faster!
I don't even want to comment on this
Be very careful if you still want to download this shit to your computer.
