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.
- 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)