Project Nemesis - Alt-coin project

[subvolatil]

Ok starting a project thread to discuss the creation of a alt coin specifically to increase volume and use in india.

phases to the project

Phase 1
Discuss the properties of the altcoin.
Discuss problem and solutions.
Implement Solution to check viability.
Discuss and look into impact and viability
Whitepaper release

Phase 2
Development
Testing

Phase 3
add support systems. pools, Block Explorer, Exchanges, backup nodes, newbie guide
add services Faucet, giveaways, games.

Phase 4
logo design, wiki, webpage.
IRC channel

Phase 5
Release


At the moment we can use the #taproom as the main channel for discussion.

Will keep this thread updated with every new development.

This will be a completely decentralized project, every one is invited to contribute, any thing from skill, advice, solutions, servers and workspace, time, or even the occasional troll  


in a few days we can come up with a  working model on how the coin should look like.


TEAM
Please  post  if you want to  add your self  to the team . and you skill and  what part of the project you want to  contribute on .

[subvolatil]

Reserved

[Benson Samuel]

I would advice Scrypt, if dagger is ready, then it would be a better option. We need to ASIC proof as much as possible.

- Coin name
- Number of coins per block awarded
- How often are blocks found?
- Frequency of difficulty retargets
- Maximum coins
- Number of blocks per day
- Logo

[G K G]

OK! its exciting we started this thread. Here is my idea for the coin:

Code:

Block No		Reward		supply			Total supply

0-400,000		20000		8,000,000,000		8,000,000,000
400,001-800,000		10000		4,000,000,000		12,000,000,000		
800,001-1,200,000	5000		2,000,000,000		14,000,000,000
1,200,001-1,600,000	2500		1,000,000,000		15,000,000,000
1,600,001-2,000,000	1250		  500,000,000		15,500,000,000
2,000,001 and above	500		4,500,000,000		20,000,000,000

Total CAP: 20 Billion
Block Time: 30seconds
Blocks per day:2880
Diff re-target: every 960 blocks(3hrs) 
Money supply max out in approx 10.5 years

[Gawrav Mehta]

Reserved for questions.

[techguy]

Reserved

[Benson Samuel]

OK! its exciting we started this thread. Here is my idea for the coin:

Code:

Block No		Reward		supply			Total supply

0-400,000		20000		8,000,000,000		8,000,000,000
400,001-800,000		10000		4,000,000,000		12,000,000,000		
800,001-1,200,000	5000		2,000,000,000		14,000,000,000
1,200,001-1,600,000	2500		1,000,000,000		15,000,000,000
1,600,001-2,000,000	1250		  500,000,000		15,500,000,000
2,000,001 and above	500		4,500,000,000		20,000,000,000

Total CAP: 20 Billion
Block Time: 30seconds
Blocks per day:2880
Diff re-target: every 960 blocks(3hrs) 
Money supply max out in approx 10.5 years

Which current alt-coin comes closest to a build like this?

[G K G]

We can even use Momentum algo like in protoshares- that way its more cpu friendly than scrypt - though even it has a gpu miner released but not much adv over the cpu
not much alt-cryptos are under this algo - to be accurate only 1. but don't know for sure
Invictus Inovation's have much varying and interesting ideas - maybe we can start from there

[G K G]

OK! its exciting we started this thread. Here is my idea for the coin:

Code:

Block No		Reward		supply			Total supply

0-400,000		20000		8,000,000,000		8,000,000,000
400,001-800,000		10000		4,000,000,000		12,000,000,000		
800,001-1,200,000	5000		2,000,000,000		14,000,000,000
1,200,001-1,600,000	2500		1,000,000,000		15,000,000,000
1,600,001-2,000,000	1250		  500,000,000		15,500,000,000
2,000,001 and above	500		4,500,000,000		20,000,000,000

Total CAP: 20 Billion
Block Time: 30seconds
Blocks per day:2880
Diff re-target: every 960 blocks(3hrs) 
Money supply max out in approx 10.5 years

Which current alt-coin comes closest to a build like this?

Its DOGE - only nos changed 

[Benson Samuel]

OK! its exciting we started this thread. Here is my idea for the coin:

Code:

Block No		Reward		supply			Total supply

0-400,000		20000		8,000,000,000		8,000,000,000
400,001-800,000		10000		4,000,000,000		12,000,000,000		
800,001-1,200,000	5000		2,000,000,000		14,000,000,000
1,200,001-1,600,000	2500		1,000,000,000		15,000,000,000
1,600,001-2,000,000	1250		  500,000,000		15,500,000,000
2,000,001 and above	500		4,500,000,000		20,000,000,000

Total CAP: 20 Billion
Block Time: 30seconds
Blocks per day:2880
Diff re-target: every 960 blocks(3hrs) 
Money supply max out in approx 10.5 years

Which current alt-coin comes closest to a build like this?

Its DOGE - only nos changed 

lol.. kk, we gonna have to rethink that a lot.

[subvolatil]

OK! its exciting we started this thread. Here is my idea for the coin:

Code:

Block No		Reward		supply			Total supply

0-400,000		20000		8,000,000,000		8,000,000,000
400,001-800,000		10000		4,000,000,000		12,000,000,000		
800,001-1,200,000	5000		2,000,000,000		14,000,000,000
1,200,001-1,600,000	2500		1,000,000,000		15,000,000,000
1,600,001-2,000,000	1250		  500,000,000		15,500,000,000
2,000,001 and above	500		4,500,000,000		20,000,000,000

Total CAP: 20 Billion
Block Time: 30seconds
Blocks per day:2880
Diff re-target: every 960 blocks(3hrs) 
Money supply max out in approx 10.5 years

Which current alt-coin comes closest to a build like this?

Lets base it on the latest release of bitcoin, with the above specs, but remove the cap and replace it with scrypt

[subvolatil]

Can use the hashing that quark uses or come up with our owne.

[troy112]

No, 20 billion is too high... more like 1 billion to represent population of india...

[Benson Samuel]

We can even use Momentum algo like in protoshares- that way its more cpu friendly than scrypt - though even it has a gpu miner released but not much adv over the cpu
not much alt-cryptos are under this algo - to be accurate only 1. but don't know for sure
Invictus Inovation's have much varying and interesting ideas - maybe we can start from there

I looked at it, would it not invite botnets like crazy?

[subvolatil]

We can even use Momentum algo like in protoshares- that way its more cpu friendly than scrypt - though even it has a gpu miner released but not much adv over the cpu
not much alt-cryptos are under this algo - to be accurate only 1. but don't know for sure
Invictus Inovation's have much varying and interesting ideas - maybe we can start from there

I looked at it, would it not invite botnets like crazy?

bot net will be a problem even if scrypt is used.

[Benson Samuel]

We can even use Momentum algo like in protoshares- that way its more cpu friendly than scrypt - though even it has a gpu miner released but not much adv over the cpu
not much alt-cryptos are under this algo - to be accurate only 1. but don't know for sure
Invictus Inovation's have much varying and interesting ideas - maybe we can start from there

I looked at it, would it not invite botnets like crazy?

bot net will be a problem even if scrypt is used.

Then we can use scrypt itself

[G K G]

No, 20 billion is too high... more like 1 billion to represent population of india...

Hmmmm! good idea but... But with the "rupia" we can try to represent 7 nations- India, Sri Lanka, Pakistan, Indonesia, Nepal, Seychelles, Mauritious

[Benson Samuel]

No, 20 billion is too high... more like 1 billion to represent population of india...

Hmmmm! good idea but... But with the "rupia" we can try to represent 7 nations- India, Sri Lanka, Pakistan, Indonesia, Nepal, Seychelles, Mauritious

There, we just got scale. Wonder what is the combined population of all 7 nations.

[subvolatil]

No, 20 billion is too high... more like 1 billion to represent population of india...

Hmmmm! good idea but... But with the "rupia" we can try to represent 7 nations- India, Sri Lanka, Pakistan, Indonesia, Nepal, Seychelles, Mauritious

Cap needs to be removed but the amount of  coins generated after a certain limit should be at about 1% of the first rewards block  

[G K G]

We can even use Momentum algo like in protoshares- that way its more cpu friendly than scrypt - though even it has a gpu miner released but not much adv over the cpu
not much alt-cryptos are under this algo - to be accurate only 1. but don't know for sure
Invictus Inovation's have much varying and interesting ideas - maybe we can start from there

I looked at it, would it not invite botnets like crazy?

bot net will be a problem even if scrypt is used.

Ya right. Botnets can be used for scrypt too. but the momentum algo has a amd-opencl miner now- so idon't think people 'll take the efforts for botnets.
But yes cloud mining wiill have its share.
In the early PTS time i alone used like 50 cloud servers