Mintcoin (MINT) is an innovative secure power-saving hybrid PoW/PoS cryptocurrency. It used faster PoW-mining during first 5 weeks of its existence for amassing initial amount of coins. After that (on February the 6th, 2014) it has almost entirely switched to a more passive PoS-mining which doesn't use nearly as much electricity. The annual interest rate during PoS-mining is variable. It equals 20% during the first year and will drop 5% a year after that until it reaches 5% four years later. As the cryptocurrency switched to PoS-mining 5 weeks after its launch the reward for PoW-mining has dropped as low as possible. The bulk of coins will be generated in PoS-mode by the merit of which this cryptocurrency saves a lot of electricity.
Mint Coin combines lightning fast, free transactions, with low power consumption. MintCoin is owned by no one and aims for a higher level of decentralisation. MintCoin holders are part of the world’s first bottom-up global democratic network. They decide on everything by way of the pioneering ‘Living Roadmap’, through which they can vote to elect developers, ideas and plans for the future. As such, the holders determine the exact eco-friendly direction of Mint Coin, ensuring that it operates in their interests.
The total amount of coins to be mined is 70 billions. PoS-mining starts after 20 days of storing coins in a wallet. With PoS taken into account, this cryptocurrency is more resistant to 51% attack. As miners users will earn large number of coins during early stages of MintCoin's existence. And later, as investors, they will get a huge return from their long-term coin deposits. MintCoin is also meant to be widely distributed throughout the world as it is available in large numbers.
MintCoin was first launched on February 6th, 2014 through a process called pre-mine, instead of an Initial Coin Offering (ICO). Its code was originally based on Novacoin, and for the first five weeks of its life MintCoin was a PoS-PoW hybrid. In April 2014, the pioneering developer team converted the code, making MintCoin the original Proof-of-Stake coin.
- PoS/PoW script;
- Single block mining time of 30 seconds;
- PoW-reward cutting in half weekly during first 5 weeks;
- After the first 5 weeks PoW-reward is fixed and amounts to 1 coin per block;
- Difficulty adjustment after every block mined;
- PoS interest decrease:
- First year: 20%;
- Second year: 15%;
- Third year: 10%;
- Fourth year and forth: 5%;
- Total amount of coins is 70 billions;
- 4 transaction confirmations required which means 2 minutes for a transaction to be forwarded;
- 50 confirmations for a block found by mining;
- 1% of coins premined for for prizes, giveaways, coin promotion, technical support, support for innovation, etc.;
- Ports: 12788 (connection) and 12789 (RPC).
Mintcoin crypto currency is available on exchanges, such as Cryptopia, Novaexchange, SouthXchange, Coinexchange and ForkDelta, about 86% of transactions are performed on Cryptopia exchange. Another interesting fact is that it is traded in pairs with Bitcoin, Ethereum, Dogecoin, Dash and KibiCoin.
The Mint coin team developed official wallets for Windows, MacOS and Linux operating systems. Mintcoin wallets are available on the GitHub repository with the last security patches.
The following widget allows users to see the real price of Mint token.
The Living Roadmap is arguably the flagship feature of MintCoin, and what will ensure the Mint vision is preserved for decades to come. The direction of MintCoin is decided by a global democratic mechanism. Millions of coin holders will determine the altruistic, green causes for MintCoin to pursue. The people powered nature of the Living Roadmap will foster a stability and legitimacy the likes of which as yet unseen in cryptocurrency. Today MintCoin has one of the fastest-growing and most vibrant communities in cryptocurrency. The idea of the coin is that if mass adoption occurred, it would transform efforts to fight global environmental issues.
The idea for the Living Roadmap is simple, but the process complex. In all, each Living Roadmap cycle will take three months from start to finish. In the first week, the community submits 30 ideas in simple terms. These can range from environmental projects (e.g. funding the construction of a specific wind energy plant) to blockchain related ideas (e.g. quickening transaction speeds) to media-related plans (e.g. developing a simple Mint-game, or mobile app for MintCoin).
See Also on BitcoinWiki
- http://jimmyamash.com/mintcoin/whitepaper.pdf – Mintcoin Whitepaper