UPDATE - Tagcoin has recently upgraded to v2 of all clients and source code - please upgrade your software accordingly
is an ewallet platform, operating out of Manila, Philippines, where it operates a digital cash wallet in Pesos for cash in and out, user transfers, remittances and merchant payments, as well as extra services including airtime purchase, salary payments, bill payments, peer to peer lending, gifts and delivery services where the TAG digital wallet can be used. Cash in our out is via most high street banks, via 7-Eleven, via agents or as Bitcoin. Payments can be made with merchants who cash out to bank or if located outside of the Philippines, withdraw as Bitcoin, thus enabling sales to be made by foreign companies to the millions of Filipinos who do not have credit cards. Tagcash has a workforce of approximately 40 staff.
Tagcoin is used as the blockchain behind all transfers in Tagcash - every user with an account in Tagcash has balances reflected in Tagcoin at current exchange rates decided by Tagcash and other market forces. In essence, when a transfer happens in Tagcash, it is the same as that user buying and selling tagcoin, but this is hidden to make it simpler for customers to use their own currency. Tagcash is also a platform for closed loop currency, and anyone creating their own points or rewards system has the option of using the TAG Blockchain to backup their currency.
Tagcoin is PoW / PoS coin, paying a dividend of 5% per year on coin balances that are older than 30 days, earned by opening the wallet to the outside world (which helps keep Tagcoin stable).
The price of Tagcoin is expected to rise as the total local currency balances of all users and merchants rise within Tagcash.
Launched in November 2013, there was no premine - Tagcash buys Tagcoin on the open market, both for use and for investment just like anyone else.
Tagcoin is mined and traded mostly in China (btc38.com and bter.com) but Tagcash has recently added a trading platform into the tagcash site so merchants and users can buy and sell Tagcoin for local Peso currency. Deposits can be made via Bitcoin which is converted to Pesos or Tagcoin can be deposited directly. Trading is done as TAG/PHP pair. We may introduce BTC/TAG trading in future.About TagCoin
We designed TagCoin with the following objectives in mind:
A little bit about the parameters we've chosen. 4 minutes between blocks is a happy medium between speed and sustainability. Faster coins will run into many problems down the line, the least of which is blockchain bloat. As we intend to support TagCoin for many years to come, these are big issues.
Subsidy reduction has been rethought. Halving every X amount of blocks, like Bitcoin, is very unnatural and "shocks" the market every halving. Accordingly, we've decided to introduce a more natural reduction formula for Tagcoin. The subsidy will reduce by 1% every 3 months for the life of the coin. Additionally, there is a minimum block reward of 3 set in place, as to always encourage mining. Sustaining mining solely on fees is problematic; Bitcoin will have to deal with this somewhere down the line, but Tagcoin will not. Less than 100 million coins will be generated in the first 30 years before this minimum block reward has been reached. Technical Specifications
POS Interest Paid per year: 5%
Coins per block: 27.2
PoW Subsidy reduction: 1% every 3 months, minimum reward of 3 coins
Time between blocks: 4 minutes
Retarget: The same algorithm that PPCoin uses; exponential easing towards the target spacing time.
Network Port: 8623
RPC Port: 18334Get TagCoin
Windows, Ubuntu, Mac and Source code available on http://tagcoin.org
websitePoolshttp://tag.cryptopools.comhttp://http://sky-pool.comExchangeshttp://www.btc38.com/trade_en.html?btc38_trade_coin_name=taghttps://bter.com/trade/tag_btchttps://bter.com/trade/tag_cnyhttps://www.coingather.com/exchange/TAG/BTCBlock Explorerhttp://tagcoin.org/tagexplorer/www/Supporthttp://twitter.com/tagcoinhttp://facebook.com/tagcoinPricing Calculator (TAG/BTC against multiple Fiat Currencies)http://vskype.com