NITcoin - new alternative cryptocurrency - Scrypt-Jane - N factor - ASIC resistant
NITcoin is an alternative cryptocurrency which will have all the necessary means to become one of those which succeeded.
Scrypt-Jane N factor will allow it to be future-proof - fully
ASIC resistant, including scrypt-ASICs.
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This project is intended to be community - driven as much as it is possible - website creator will have one of the largest bounties, and so on.----------
Specification:
Coin supply - 40.000.000 NIT
Divided in 2 stages:
Premine stage:
For donations, pools, exchanges and bounties (developers will NOT keep any coins as it will be shown on block explorer) : 0.2% - Total of 80.000 NIT
IPO : 4% - 1.600.000 NIT
Mining stage : 38.320.000 NIT
Algorhytm : Scrypt-Jane N factor
Symbol : NIT
Block time : 2.5 minutes
Difficulty retarget time : Every block, KGW
Block reward :
0-100 - 0 coins
101-10000 - 100-1000 coins (random reward)
10001-30000 - 50-500 coins (random reward)
30001-50000 - 10-100 coins (random reward)
50001-100000 - 5-25 coins (random reward)
100001-200000 - 2-10 coins (random reward)
200001+ - 1 coin
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Twitter :
Website :
/20.000 bounty for the creator, needs to be done by March 24th, 00:00 UTC /
Block explorer :
/10000 NIT bounty/
Source :
/will be available 24h prior to launch/
Wallet :
/will be available 24 hrs prior to launch for download, password protected/
Pools :
/1st pool/ -4.000 NIT
/2nd pool/ -2.000 NIT
/3nd pool/ - 1000 NIT
/4th-10th pool/ 500 NIT
Translation bounties :/500 NIT per translator/
Logo bounty :2000 NIT
Exchanges :
/2 major exchanges upon launch/
Games, faucets :
/none yet/
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IPO stage :
Countdown :
IPO will consist of one phase in which all IPO premined coins will be sold to IPO contributors. It will last for 7 days. There is no IPO "price" per coin - distribution will be made by percentage of IPO contribution. If there is, for example, just one contributor with 0.5BTC he will receive complete IPO premine of 1.600.000. However, this will also impact the price of the coin, as complete IPO balance will, with
no exceptions, be used to form the actual price of the coin. This is the main goal of IPO, providing support on exchanges. Minimal IPO investment is 0.05 BTC.
IPO investment address is : 1FVA4sUDVbFhGUjraEuBEKP1ktKLrzCYWx
Please send us private message here and/or e-mail us with your TXid.
contact e-mail :
contact.nitcoin@gmail.comIPO starts at 00:00 UTC, 19.03.2014., as per countdown.
IPO closes in 7 days, 26.03.2014. 00:00 UTC.
[Countdown :
Launch will be on 27.03.2014, 00:00 UTC.
Countdown :
What makes NITcoin different:
Except basic technical characteristics, like ASIC-resistancy, one of the main will be FAIRNESS. First 50 blocks will have 0 reward, which will allow everyone a fair start. Also, there will be no premine except the one which is stated here. No blocked nodes, no late launches. Launch will be at the exact second of the counter. Our development team is working hard on it so everything goes as smooth as possible.
Also, we are hoping to have highly valuable coin, an "altcoin" which will develop into a stable currency and won't be just another altcoin. Later on, if we manage to succeed in our short-term plans, we will do our best, and hopefully the entire community, to bring this to a higher level - currency you could use in everyday transactions on the internet.
All suggestions are highly appreciated and welcome.
