Ultra-secure, Decentralized Block Reward Voting, Fast Transactions
Will there be 63M or 128M HVC?
How long until we get there?
IPO CLOSEDSpecial thanks to all heavycoin stakeholders and supporters!We are now working hard to give you the best mining launch possible on March 8th 12:00 UTC (forum time).
Please stay tuned to this thread for important updates (over the next few days) including IPO stakeholder confirmations with the final list of investors, public keys and addresses.TranslationsChineseCroatianDutchFrenchGreekItalianPolishRussianSpanishTurkish
Innovations and contributions
- HEFTY1 - a cryptographic hash function for ASIC-resistant proof-of-work with a small memory footprint
- Ultra-secure hashing - a secure strategy for using multiple cryptographic hash functions
- Temporal Retargeting - multipool protection that goes beyond Kimoto Gravity Well
- Decentralized Block Reward Voting - the mining schedule and money supply are democratically decided (total supply is still bounded to 128M)
- Achieve massive adoption as a major crypto-currency
- Provide long-term open source development, support and maintenance
- Promote a large-scale decentralized mining community
- Build a gigantic community of stakeholders from a diverse set backgrounds
- Promote the use of democratic processes in peer-to-peer systems using decentralized block reward voting
- ASIC-resistant: Introduces HEFTY1, a novel approach to ASIC-resistant proof-of-work
- Ultra-secure: combines SHA-256, Keccak-512, Grøestl-512, BLAKE-512 in a secure way
- Block time: 2 Min
- Retarget up: Every 5 blocks (max 100%)
- Retarget down: Every block (max 200%)
- Starting block reward: 0 (for first 100 blocks ~ 3.3 hours)
- Block reward: 1024 max (decentralized block reward voting)
- Total supply: 63M to 128M HVC (depending on votes)
- Multipool protection:
Kimoto Gravity Well Temporal Retargeting
- Premine: 1-2% (depending on total supply) for future development, support and maintenance
Heavycoin has a strong developer backing who are comitted to its success. Over time we hope the Heavycoin developer community will grow larger and our long-term goal is to form an open source Heavycoin Foundation for promoting and developing Heavycoin over many years to come. The current Heavycoin core developers are
- keccak512 <BM-NBuu8hBFdnqAeKs42Yg7nftB3QLfJ8ra> [gpg key]
- nomisugi <BM-NBAsCmCqUYR8eaXgs8zebDNPw5rUyM1z> [gpg key]
The best way to contact us is using the BitMessage
addresses above. Warning: the handles above are our usernames on bitcointalk.org only. Forums
Heavycoin has the potential to achieve massive adoption and become a wide-reaching crypto-currency. With a strong community behind it, Heavycoin could even challenge Litecoin for position number two next to Bitcoin. With this in mind, the Heavycoin launch is taking place in multiple stages to encourage a diverse body of early adopters and stakeholders. Heavycoin will also leverage multiple launch strategies for maximum impact.Dates and info
IPO dates: Feb 17th - March 3rd, 2014 (closed)
- Mining launch: March 8th 12:00 UTC (forum time)
- Wallets: Windows, Ubuntu, Debian and Mac OSX available at launch
Each launch stage focuses on a specific user group, such as miners, investors, developers, marketeers and journalists. Our aim is that each group will be given a chance to become an early adopter and bring their unique talents and expertise to strengthen the Heavycoin community. The following table summarizes the three launch phases, explaining their benefits and duration.IPO details
To invest in the Heavycoin IPO, simply send Bitcoin to the Heavycoin IPO address using one of the procedures outlined below. As with all investing, investments are final and not refundable. Investments must be received before 00:00 UTC March 3rd, 2014. Funds received after this time will be returned to sender, with the possible loss of minimum Bitcoin transaction fees.Key info
The 5,000,000 HVC will be distributed among the IPO investors proportional to how much BTC they have invested. There is no limit on the amount of BTC investment. The free market will determine the HVC exchange rate. For example, if there were only two investors, Alice and Bob, and Alice invests 1 BTC and Bob invests 0.25 BTC, then Alice would get 80% (4M HVC), Bob would get 20% (1M HVC) and the HVC exchange rate would be 0.00000025 BTC per HVC.
Heavycoin IPO investors will be paid their HVC stakes instantly the moment the Heavycoin genesis block is released on March 8th, as soon as the network is launched and mining starts. There will be no lengthy waiting period nor will there be a manual, error-prone disbursement of funds. It will be an automatic process leveraging the genesis block. Investors who want to take part in the IPO must follow one of the two official IPO procedures below.IPO procedure 1 (preferred)
IPO procedure 2 (easy option)
- 1. Download the Heavycoin Keypair and Address Tool for your platform
- 2. Unzip to your Dekstop
- 3. Generate a Heavycoin keypair. For example,
A) Launch the Command PromptWarning: In Windows there will be an annoying line-wrap splitting your public key over two lines (see above)
B) cd %HOME%\Desktop
C) C:\Documents and Settings\Default User\Desktop>genkeys.exe
Heavycoin Private Key: 5Ht24yvS1gvp5RAMh2vUpvjrjmvt6fEymghVVC5XcD9G4byWYed
Heavycoin Public Key: 04c59d236644330ef4cbde55dd7a0e7da2471dcf7da99f045a37140f
Heavycoin Address: H9ik2KmasKPCQwXaGDgUGa2KLBD15E4nhe
- 4. Save your Heavycoin Private Key, Public Key and Address in a very safe place.
Warning: Keep your private key secret.
Warning: You will not be able to claim your HVC without these details!
- 5. Send any amount of BTC to
Record the Bitcoin Transaction ID of your payment.
- 6. Post a message to this thread with your Heavycoin Public key, Bitcoin Transaction ID and Amount sent. For example,
Heavycoin Public Key: 04c59d236644330ef4cbde55dd7a0e7da2471dcf7da99f045a37140fd79afda83353ccde09af728 869db9cc06d05a96ec85c46ff78ef47661939d9012fa4c926f7Warning: Be careful when copying and pasting the Heavycoin Public Key. In Windows line-wrap splits the key in half and you need to make sure to paste it together without any mistakes. If you make a mistake you will be unable to receive your HVC.
Bitcoin Transaction ID: d73bd2cdab298c1ecdc05d280f2190e530813bc5504be06181f11f0b9863631a
Amount sent: 0.37 BTC
Note: If you desire confidentiality, then send a PM instead.
Note: If bitcointalk.org is down, you can send your message to us using our BitMessage address BM-2cV6qRmeK677qYBetTMXmVmu6vGo3Pn4GG.
For users who find the genkeys procedure above too difficult or technically complex, you can make your HVC IPO investment with the following, simpler, less cool procedure.IPO security
- We will send you a bitcointalk.org PM confirming your IPO payment has been received.
- A few days before the release on March 8th, we will publish the current list of IPO stakeholders and we will attempt to resolve any issues that may occur.
- If we encounter any conflicts where multiple bitcointalk.org handles are claiming the same Bitcoin transaction Id, then we will contact the respective users and the legitimate key holder will be able to prove she owns the sending Bitcoin address by sending us a message signed by the corresponding Bitcoin private key(s). Thus, any attempts to cheat will be completely futile.
- Advanced users who want to to sign their forum posts from the start are encouraged to do so. In this case you must send your IPO payment from a single address and then sign their IPO forum post with the corresponding private key. We can then verify that the Heavycoin Public Key does indeed correspond to that particular BTC payment. Sending payments from a specific address can be achieved from the Bitcoin RPC interface OR using blockchain.info.
Heavycoin mining will open up a new dynamic because of decentralized block reward voting. Miners who are greedy and have little stake could vote for the maximum block reward of 1024. However, this will increase the supply of Heavycoin and decrease their profits. Other miners, who are not greedy, or who already have a sufficient stake, might vote for a lower block reward -- even zero -- in order to decrease the supply and to slow the minting rate. Either way, this is going to be interesting!Intially Heavycoin starts with a zero block reward.
The very first miners will have the first opportunity to solve blocks and vote on what the first democratically selected block reward should be. The first 100 blocks (3.3 hours) will decide the starting block reward. From then on, block reward voting will continue, but the votes are counted and averaged every 3600 blocks (5 days).
Heavycoin is configured to mine and vote by default, with a default vote of 512 HVC. If you want to change your block reward vote then see "How to vote" section of our website. Otherwise, to disable voting then see "How to mine". When mining is enabled, every time you mine a block your wallet will automatically cast a block reward vote. The Heavycoin network automatically averages these votes every 5 days (3600 blocks) and sets the new block reward accordingly. The block reward is the average of all 3600 votes over the previous voting period rounded to the nearest integer.
- Voting RPC interface:
setvote <vote> - set your block reward vote
getvote - get your current block reward vote
getmaxvote - get the maximum allowed vote for this phase
getphase - get the current voting phase name (eg. "Mint", "Limit" or "Sustain")
getsupply - get the current money supply
getreward - get the current block reward
getmaxmoney - get the maximum possible money supply
- Wallet downloads:
- Mining parameters:
- Seed nodes:
Thanks to the bounty phase, Heavycoin will start with enough funds to do some serious work in terms of branding, marketing and promotion. Here are some of the projects we will be rewarding early adopters and promoters for. If you are interested, then please post to the forum and send a PM so we can confirm the details.
- 30,000 HVC - professional grade commercial art and logos (specific guidelines, logo competition)
- 50,000 HVC - professional grade promotional video explanation (specific guidelines apply)
- 100,000 HVC - first substaintial merchant to accept payments with Heavycoin
- 50,000 HVC - second merchant
- 40,000 HVC - third merchant
- 10,000 HVC - fourth merchant
- 10,000 HVC - fifth merchant
- 50,000 HVC - first gambling site (specific guidelines apply)
- 20,000 HVC - first dice site
10,000 HVC - setup and maintenance of a dedicated Heavycoin forum
- 10,000 HVC - sign-up of the first Heavycoin exchange
- 30,000 HVC - first block explorer
- 10,000 HVC - second block explorer
30,000 HVC - first mining pool 30,000 HVC - second mining pool 80,000 HVC - seed node servers (long-term) 10,000 HVC - first article published
- 10,000 HVC - second article published
- 30,000 HVC - article at CoinDesk, Bitcoin Magazine, Forbes or Money Week
Thousands more to be awarded to promotors on twitter, facebook and online forums.Completed bounties
These bounties have been pre-allocated ahead of the launch for helpful contributions.
Twitter feed setup - 1,000 HVC awarded to robmillernow Chinese PRE-ANN translation - 1,000 HVC awarded to xiaocong Greek PRE-ANN translation - 1,000 HVC awarded to RealMiner French PRE-ANN translation - 1,000 HVC awarded to kuroman Spanish PRE-ANN translation - 1,000 HVC awarded to VanBreuk Dutch PRE-ANN translation - 1,000 HVC awarded to tinus42 First article published - 10,000 HVC awarded to qznc (Block Reward Voting: HeavyCoin) Polish PRE-ANN translation - 1,000 HVC awarded to Moozg Russian PRE-ANN translation - 1,000 HVC awarded to -Greed- Informative blog post - 1,000 HVC awarded to Shuxy (Alt Coins Lookout! #1) Setup and maintenance of a dedicated Heavycoin forum - 10,000 HVC awarded to cryptomind (http://heavycoinforum.com) Italian PRE-ANN translation - 500 HVC awarded to Steve_Sanders Turkish PRE-ANN translation - 200 HVC awarded to rojuwah First mining pool - 30,000 HVC awarded to doge94 Second mining pool - 30,000 HVC awarded to cryptomind Seed node servers (long-term) - 80,000 HVC awarded to cryptomind Campaign for Chinese promotion - 500HVC awarded to provenceday Croatian PRE-ANN translation - 200 HVC awarded to logi
We are still awarding bounties for pre-launch contributions (ex. promotions and translations) so please send us a PM.