MicroCash - New CryptoCurrency

CoinHunter (OP)

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MicroCash - New CryptoCurrency

April 19, 2012, 02:59:07 PM

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I've copied this from the SolidCoin forum. http://solidcointalk.org/topic/593-microcash-announcement/

Quote

So, we have a new name for the project. MicroCash. The site is going to be put up at http://microcash.org, which will resemble the current site with changes. MicroCash represents pretty much what we are doing, microcomputers creating cash, and also that we allow easy micropayments in cash.

Some important notes
*) MicroCash is going to include every SolidCoin in it,
*) When MicroCash launches there is going to be a "Launch Bonus" , meaning mining rewards are going to be MUCH higher than normal for a week or so. Total inflation from the bonus will be 100K
*) MicroCash will not have trust nodes
*) MicroCash will have a similar hashing and pool mechanism as SolidCoin
*) MicroCash will not have trust accounts. Meaning the only coins brought forward will be the 2.8 million user coins
*) MicroCash will have an alternate 51% mining protection mechanism which will mean the power of the network is more in the users hands
*) MicroCash will have a different address format. It looks like micro(QSM3PKS3EOZBUZO4A)cash

Here are some potential new logos

And here are a list of most of the changes over SolidCoin v2 :-

*) A new way to send/recv funds securely over the MicroCash network, meaning you can download the client and be sending/receiving cash within seconds. No blockchain download required
*) Can now get paid merely for running a node
*) MicroCash Accounts now gain a form of "interest" which is collected from all network fees and redistibuted to accounts based on their total MicroCash holdings. Increase your MicroCash amount and get more interest
*) Chain donation address added. Send money to this address and it redistributes it evenly to every MicroCash account
*) Every account on the network has a daily fee of 0.005 MC or a half cent. Meaning 1 MC provides enough account fees for 200 days.
*) Dual signature accounts allowed. Meaning you can now have two devices with 2 keys able to confirm a transaction. ie You create a transaction on your PC and your mobile phone confirms it. If your PC is ever hacked your funds can't be removed without your phone confirming it.
*) Transaction fees reduced to a fixed 0.005MC (half cent) for a normal transaction and 0.01 MC for dual signature
*) Transaction size is now much smaller, which means we can fit more in a block and have less disk/memory usage
*) Much improved custom database to store all blocks and transactions. Resulting in about 25% of the disk usage compared to v2.
*) Extremely fast transaction/block/account lookup, resulting in less CPU usage running a node.
*) Improved Proof of Work hash and handling. Now reference previous blocks with a SHA256 to improve disk loading
*) Increased mining income to match $1-$2 range instead of $3-4 range
*) Powerblocks are removed
*) Trust nodes and trust blocks are removed
*) The 10 trust accounts are removed
*) Improved P2P handling
*) Much shorter address format and new hashing mechanism for them. Accounts store public keys so that once set it's more secure than ripemd160
*) Denial of Service code added, can now ban nodes that flood the network
*) Ability to donate MicroCash to nodes for passing on transactions and blocks
*) URL and email callbacks for accounts on a node. Allow developers to get transactions pushed to them instead of constantly polling
*) Trading on exchanges will be possible within the client
*) Ability to add labels or information to transactions you send to others
*) Can create payment codes that clients accept with amount, address and information tags already filled out.

Try SolidCoin or talk with other SolidCoin supporters here SolidCoin Forums

Etlase2

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