Algorithm: Scrypt Proof of Work and Proof of Stake
Coin Name: Onecoin
Coin Abbreviation: ONECN
Public Address Letter: 1
RPC Port: 15735
P2P Port: 15736
Block Reward (PoW): 100 coins
Block Reward (PoS): 20 coins minus 20% for development so actual rewards is 16 per block
Last PoW Block: Block 10,000,000
Min. Stake Age: 48 hours
Max. Stake Age: Unlimited
Coinbase Maturity: 20 ( + 1 default confirmation) blocks
Target Spacing: 3 minutes
Target Timespan: 60 minutes
Transaction Confirmations: 5 blocks
Description:
Onecoin, with the coin abbreviation ONECN, employs a unique combination of Scrypt Proof of Work (PoW) and Proof of Stake (PoS) algorithms to power its blockchain network. This dual approach ensures both security and efficiency in the validation of transactions and the creation of new blocks.
The Scrypt PoW algorithm facilitates the mining process, rewarding miners with 100 ONECN coins per successfully mined block. This mechanism helps secure the network and maintain a decentralized consensus.
In parallel, Onecoin embraces the PoS algorithm, where holders of ONECN coins can actively participate in block validation. Stakers are rewarded with 20 ONECN coins for each block they contribute to, promoting a more energy-efficient and environmentally friendly network.
The last PoW block, marked at block 10,000,000, signifies the transition to a PoS-dominated phase, showcasing Onecoin's commitment to sustainable blockchain practices.
To participate in staking, users must adhere to a minimum stake age of 48 hours, ensuring a level of commitment to the network. Notably, there is no maximum stake age, allowing users the flexibility to engage in staking over an extended period.
Coinbase maturity, set at 20 blocks with an additional default confirmation, ensures that newly minted coins are matured and ready for circulation in the network.
Onecoin boasts a rapid block generation time with a target spacing of 3 minutes, contributing to quick transaction confirmations. The target timespan of 60 minutes further enhances the stability and predictability of the blockchain.
To guarantee the security of transactions, Onecoin requires 5 block confirmations, providing users with confidence in the integrity of their digital assets.
In summary, Onecoin presents itself as a robust and innovative cryptocurrency, combining Scrypt PoW and PoS algorithms to create a secure, efficient, and environmentally conscious blockchain network.# onecoin
POS rewards 16 coins per block 4 go to development
website:
http://5.189.187.165/Discord invite link:
https://discord.gg/mYvxebE4SBTelegram invite link:
https://t.me/+-8Z7QQEc-rYxOWNkBlockchain-explorer:
http://158.220.94.214:3001/Twitter-X link:
https://twitter.com/onecn2020Whitepaper-link:
https://github.com/andyd1986/onecoin/releases/download/v1.0.0/onecoin-whitepaper.rtfGithub-link:
https://github.com/andyd1986/onecoin
