Hi everyone,
We have decided to make some change to Reddcoin and here they are:
Block halving rate: Change from 525,600 to 500,000.
This was done to have a total coin before IPO and rewards of 100 billions.
Then, we decided to up our IPO offering to 5% as requested. This will bring the total coins available in the IPO TO 5.45 billions.
To make sure we get the needed support from miners during the first month, we decided to implement special block rewards for the first 30,000 blocks.
Special block reward
Block 0 - 9,999 = reward 300,000 coins
Block 10,000 - 19,999 = reward 200,000 coins
Block 20,000 - 29,999 = reward 150,000 coins
Block 30,000 and over = reward 100,000 coins
This bring the total coin to 109 billions.
We also decided to implement the Kimoto's gravity well as a way to retarget difficulty each block and fix once and for all the recurrent problem with hashrate changes.
https://forum.megacoin.co.nz/index.php?topic=893.0Let us know what you think.
Reddcoin