Mintcoin

From Bitcoin Wiki
This is the approved revision of this page, as well as being the most recent.
Jump to: navigation, search


Mint.png

Mintcoin 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.

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.

Technical details[edit]

  • 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)

Pools[edit]

See also[edit]

References[edit]

Official website
IRC
Wallets
Source
Merchants
Block Explorer


Licence.png