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November 22, 2013, 10:23:21 PM |
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I have an altcoin request. No transaction fees, logarithmic increase in coins outputted. For every 10x increase in hashing power, the number of coins produced will double. For every successful block discovered, 1 coin will be rewarded.
The smallest denomination of coins will be in tenths. 40 second transaction times. SHA-256 encryption.
The aim is to prevent a currency that is founded solely upon speculation and excessively rewards early adopters. Furthermore, without transaction fees, this will prevent a future where only large businesses with giant ASIC farms would mine coins (like a big bank). It will also be relatively immune to attacks or incidents where a tonne of hash power is dumped onto the mining network, and suddenly withdrawn, slowing mining to a halt.
It will be named ACoin.
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