Specifications
- POW/POS
- ~18 Billion ECC generated during POW (POW ended)
- POS since 22/04/2014 - min. coin age = days 42 - max coin age = 85 days
Year 1: 25%
Year 2: 15%
Year 3-9: 10%
Starting Year 10, it will have an annual PoS interest of 1%
- 45 sec block target
- difficulty retarget each block
- 4 confirmations for a transacaction
- 50 confirmations for PoS blocks to mature
- Low transaction fees
Community take over: Why?
The original dev of ECCoin lost his clear vision and is ignoring every question asked by community members.
He is also rejecting any form of cooperation in order to implement new features.
In a public voting, here on the bitcoin forum, the community voted for a take over.
Community take over: What's next?
Ok, we voted for a take over and are left without a dev, so what's next?
First of all, let me be very clear about this: The community will decide what we do and what not.
This time we do it right...no more individual decision making, but group-decision making!
1. Community wallets for development-bounties and give-aways
I Have set up 3 different wallets, one ECC-wallet, one BTC-wallet and one LTC-wallet.
ECC-wallet: EZxj2oLwnXF12fhcNpZV5hRRVBXjtxpa2f --> Balance:10.000.000 ECC
BTC-wallet: 1LxTKMQKEcokUeZS8wDcdWBCbxXZ321kGN --> Balance:0.12025802 BTC
LTC-wallet: LZ4frp8EVVWNMTxBMZSp5B2qo1Qx4NQMHe --> Balance:0 LTC
The wallet addresses are public, so everyone can check the transactions and the balances!
2. Bounties for development and give-aways
Everyone that makes a donation to one of the 3 community wallets can decide where he wants his donation to be used for.
For example, I started by making a 50.000.000 ECC donation (the first transaction of many I hope!).
Now it's up to me to decide where I want this money to be used for.
I donate 40.000.000 to the dev bounty, 5.000.000 to the payment processor bounty and 5.000.000 to the new website bounty.
This way the community decides what's important for them and what not.
The higher the amount for bounty, the more likely that someone will accept the task.
Also, if you want a new bounty to be added, that's possible as well.
Just mention what bounty you want to be added and the amount that you are donating to this bounty.
3. Current bounties
A. Development bounty
This bounty will be used to pay the new dev. It's up to the community to decide how the dev will payed.
--> The whole amount in advance? A part per task? A fixed amount per month? ...
Current balance
Balance:0 ECC
Balance:0.12025802 BTC
Balance:0 LTC
B. Payment processor bounty
This bounty will be used to develop a payment processor, to pay someone who can build us a payment processor.
No need to tell you the importande of a payment processor in order to get ECC to online stores.
Current balance
Balance:5.000.000 ECC
Balance:0 BTC
Balance:0 LTC
C. New website
We also need a new website, and someone that can take care of this website (regular updates, maintenance,...)
Current balance
Balance:5.000.000 ECC
Balance:0 BTC
Balance:0 LTC
D. Chinese translation
This bounty will be used for a Chinese translation of this post.
Current balance
Balance:0 ECC
Balance:0 BTC
Balance:0 LTC
E. Block explorer + rich list
This bounty will be used for a working block explorer + rich list.
Current balance
Balance:0 ECC
Balance:0 BTC
Balance:0 LTC
4. Let's get started!!!
“The secret of getting ahead is getting started. The secret to getting started is breaking your complex overwhelming tasks into small manageable tasks and then starting on the first one.” ~ Mark Twain