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Author Topic: [Pre-Ann][UnitedCoin]New Algorithm-ASIC Resistant-Super Anonymous-Help Science  (Read 692 times)
cameronpalte
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May 31, 2014, 01:16:44 AM
Last edit: May 31, 2014, 07:10:39 PM by cameronpalte
 #1

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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cameronpalte
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May 31, 2014, 04:13:53 AM
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Looking into how to remove/minimize the pre-mine any suggestions would help. We'll also try spreading the investor pot across as many investors as possible to keep things easier.

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May 31, 2014, 04:36:57 AM
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nice scam Cheesy

Cheesy seeing I haven't asked for any money and am just interested in checking interest I am confused about how you think this is a scam. Or you're just trolling.

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May 31, 2014, 06:49:09 AM
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which algorithm ?  only support CPU mining ?
cameronpalte
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May 31, 2014, 04:16:36 PM
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which algorithm ?  only support CPU mining ?

The idea is basically a new algorithm that is a combination of x11 & science so it will be mainly GPU mining only though CPUs will work too at a much lower profit. Any X11 Asics should they happen to come out before release will not work. Everyone's GPU will put ~20% of its resources towards X11 to secure the network and then 40% to folding and 40% to boinc. That way everyone's GPU works towards all three aspects. Also the mining clients will be built into the wallet with both folding & boinc options.


Still pondering new ways to make the coin Darkcoin anonymous or more.

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cameronpalte
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May 31, 2014, 07:13:33 PM
 #6

To clarify: For now the name is officially United Coin!

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May 31, 2014, 07:24:17 PM
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interesting idea.
cameronpalte
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May 31, 2014, 08:28:41 PM
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interesting idea.

Thank you!

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cameronpalte
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May 31, 2014, 11:41:51 PM
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What anonymity / wallet features would you guys like to see - and also stay tuned - I'll probably be creating a forum soon.

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cameronpalte
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June 01, 2014, 06:02:42 AM
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bump.

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cameronpalte
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June 01, 2014, 06:43:35 AM
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Some people have been PM'ing me some great ideas working on incorporating them all. I have finals next week but after that I will begin to finalize the plan of the coin, prove feasibility and launch fundraiser 1. I have planned it out and their is a very high chance that the premine will be reduced down to just 0.50% - however, how long it takes us to fulfill the first fundraiser will likely be a part of this.


The price I am currently tossing around for fundraiser 1 is 5 BTC raised and the price will be 200,000 coins / 1 BTC. What do you guys think? This will get us all the way to the stage of coding most of it and testing it out on a pool with another currency - stay tuned.


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cameronpalte
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June 01, 2014, 07:43:39 PM
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I've been hardening out the details and thinking of ways to improve on the current Darksend structure to help add more anonymity benefits.

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cameronpalte
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June 02, 2014, 05:53:01 AM
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Official IPO & PreAnnouncement information thread with new name & info: https://bitcointalk.org/index.php?topic=635641.new#new

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