Electronic Yen (EYEN) is a cryptographic currency designed as a long term store of value attractive to traders and everyday users alike. EYEN brings the best of crypto currency together into one coin with a beautiful Qt wallet. Unlike other hyper-inflated and over-supplied coins on the market, EYEN has a limited supply of 12.6M coins that ensures long term value. The population of Japan is approximately 126M people, so we divided it by 10 to arrive at 12.6M coins.
The Electronic Yen Difference
EYEN is designed as an antithesis or counterpoint to the many hyped up and dumped "meme" coins and other coins-of-the-week that have plagued the market in recent times. With EYEN we have brought together a great complex proof of work algorithm, proof of stake, DigiShield, and a reasonable currency cap.
X11 Proof of Work AlgorithmEYEN uses the X11 hashing algorithm for proof of work. X11 was originated with DarkCoin and is a combination of 11 hashing functions. It is primarily CPU minable with GPU miners now available. It makes an excellent alternative to Scrypt mining and is particularly attractive in light of the upcoming widespread availability of Scrypt ASIC mining units.
DigiShield Difficulty Adjustment AlgorithmEYEN uses the DigiShield algorithm, originated with DigiByte, for difficulty adjustment and protection from multipools and hashrate fluctuation, attempts at strip mining, etc. We believe DigiShield is a more viable algorithm than the Kimoto Gravity Well, especially in light of recently exposed flaws in KGW.
Proof of StakeEYEN includes Proof of Stake that pays a 3% annual interest rate on your staked coins. Proof of Stake achieves both a reward to the user for holding EYEN and a better distribution of power on the transaction network, making a 51% attack much more difficult.
Fair LaunchThe first 360 blocks have a block reward of 1 coin, to allow the difficulty to lift and stabilize and prevent instamining.
Block Reward ScheduleBlock reward starts at 50 coins and halves every 128,000 blocks (about 1 year). It will take 5 years for all coins to be mined.
Tech Specs
Maximum Currency Supply: 12.6 Million EYEN + 3%/year PoS interest payments
Block Target Spacing: 240 seconds (4 minutes)
Difficulty Readjustment: Every 1 block
Block Maturity Time: 12 Blocks
Transaction Confirmations: 4
Proof of Stake Minimum Stake Age: 30 days
Proof of Stake Maturity Age: 90 days
Proof of Stake Block Target Spacing: 10 minutes
Proof of Stake Difficulty Retarget: 3 days
P2P Port: 9126
P2P Port (testnet): 19126
RPC Port: 8126
RPC Port (testnet): 18126
PCH Message Start: 0xe5, 0xe9, 0xe3, 0xe8
PCH Message Start (testnet): 0xc0, 0xcd, 0xf3, 0xef
Pubkey Prefix: 78 (starts with Y)
Script Prefix: 5 (starts with 3)
Pubkey Prefix (testnet): 140 (starts with little y)
Script Prefix (testnet): 196 (starts with 2)
IPO
The EYEN IPO runs for one week from March 23, 2014 to March 30, 2014 11:59:59 PM EST. A total of 1.5%, or 189,000 EYEN are in the IPO pool. The IPO pool is offered at 0.00095 BTC/EYEN.
The purpose of an IPO is to fund the ongoing development and promotional support of the coin. In today's market, few will step up to do the heavy lifting behind the true success of a coin. IPO funding will ensure that firepower can be brought to bear to push EYEN's awareness and momentum.
To invest in the Electronic Yen IPO, simply send Bitcoin to the Electronic Yen IPO address using the procedure outlined below. As with all investing, investments are final and not refundable. Investments must be received before 11:59:59 PM EST March 30, 2014. Funds received after this time will be returned to sender, with the possible loss of minimum Bitcoin transaction fees.
Example IPO investment ratios:
BTC EYEN
0.095 100
0.5 526.3157895
1 1052.631579
0.95 1000
1.9 2000
2 2105.263158
10 10526.31579
Then, sign a message from your Bitcoin wallet stating your username, email address, the transaction Id and investment amount and email the message and signature to
ipo@electronicyen.com. Message template:
Bitcoin Address: 1abcdef...
Username: myusername
Email: myemail@myemail.myemail
Transaction Id: 1x35sa8s...
Amount: 2
After launch and release of the wallet, you will then generate your receive address and send another signed message from your Bitcoin client with your transaction id and your EYEN receive address. We will then distribute your share of the IPO funds to you.
You MUST use the same Bitcoin wallet that YOU control to sign both of the messages. Do not send funds directly from an exchange.
Bounties0.5% or 63,000 coins have been reserved for EYEN bounty incentives for pools, exchanges, and promotions. This is a reasonable amount and is necessary to ensure the proper ongoing support of the ecosystem.
Please visit our website and follow us on Twitter for the latest bounty information.
Website
http://www.electronicyen.comSocial Media
https://twitter.com/ElectronicYenBlock Explorer
tbd
Paper Wallet
tbd
Mining Pools
eyen.talesfromthescrypt.org - PROP - 1% Fee
Support:
scryptkeeper666@gmail.com or use the pool contact form
Exchanges
<tbd>
News, Articles, Press Releases
<tbd>
Wallet Downloads and Source Code
Posted at launch.
Thank you for your interest in Electronic Yen. The IPO will close at 11:59:59 PM EST on March 30, 2014.
