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May 31, 2014, 01:16:44 AM
Last edit: May 31, 2014, 07:10:39 PM by cameronpalte |
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Hello Everyone,
I have started development on a new coin and was interested in gauging interest in the coin before doing further work on it. The coin will probably have 1-2 fundraisers throughout its development in order to help pay for the development fees and the initial services that the coin will have. The coin will implement a new algorithm to help secure the block chain and at the same time a lot of the hashing will go to helping science. Post any suggestions you guys have here.
Total Coins: 1,000,000,000 (1 Billion)
Premine: 10,000,000 (10 million - 1%) - pay for services and pay to all of the investors etc.
Coins / block: 10 (halves every 5 years) Mining algorithm X11 for block security that goes along with every block. 20% of the coins~ will go to those mining. The coin will be merged mining that is everyone will mine with 20% of the resources X11 and 40% of the resources for the other 2 projects.
Once a day there will be a super block of 57,600 coins - none of these coins will go to miners - they will be split across people using Boinc and people doing folding at home 50-50. 28,800 coins will go to each. The coins will be split as your daily points over a percentage of the total daily points. The reason for once a day is to keep people from trying to time work unit submissions in order to maximize the currency that they receive. You may have to mine with a certain team probably - or maybe I'll make it so that you can stick with your current team.
The coin will also be a POS. The interest will be 2.5% a year. You must have the coins in your wallet for 50 days. Once that 50 days is hit, interest will be calculated, but it will be calculated with every block, that is every block afterwards you have afterwards will get the appropriate percentage of interest on your coins paid out every day. That is unless the value is so small that it doesn't fit into the smallest amount the coin can be divided - if it is that small it will be rounded to 0 (though having more than ~1 coin in your wallet will mean you get your interest). Moving the coins from one address to another will reset this counter.
Services upon release
-Mac & Windows & Linux wallets
-USD to Coin exchange (like Coinbase for Bitcoin)
-2 pools up and running
-gambling sites
-faucet
-block explorer soon after
That is all,
Let me know any suggestions you guys have or modifications you would like to see or if you would be interested in a coin like this.
*I also am looking for additional developers. Any interested developers will receive a percentage of the coins upon release. PM me if you are interested*
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