question for developer:
if coin supply is 7 billion , 3 minute blocks , ect it seems to me Blake Coin is going to be churning out coins for a long , long time. I looked at your source and cannot tell if the extra award is calculated in this. Thought i saw max size 50 i guess if difficulty gets really large over time.
Is the difficulty subsidy counted in the 7 billion ?
Even if it is I think Blake Coin may be one of the coins with the longest ever production cycle?
(of course SIC simple inflation coin the Russian coin is designed to run forever)
Still that is a lot of coins for a long time.
I am curious why you decided on these amounts & long time span?
Not criticizing your work just curious the logic behind this?
long life cycle sounds great I do want to be able to mine Blakecoin for many many years to come don't you?
7 billion is coin Max, this includes block reward and inflation, I did not see any reason to have a low coin max and artificially create rarity it does not make sense to me
I picked 7 as it is both a symbol of luck and a prime number
should not be any cap on reward for Blakecoin, the idea was to create a steady coin supply that did not cut reward for miner over time and to use a fast hash function that would work on CPU/GPU/FPGA
without being SHA-256 Asic compatible e.g a new main algorithm
SIC,QRK,YAK do at least try to do something different but the main thing I did not like was that they use a type of waterfall hashing from one algorithm to another which is artificially slow and would not fit in an FPGA and I was working with scrypt in FPGA with kramble's Litecoin miner but due to scrypt's linear function it was clear to me that it could never really take full advantage of the FPGA compared with the speeds of the GPU's.
I have also been working on a free to play 3D MMO framework with another developer since 2011 and thought it would be a good idea if we could use mining a coin within the game while the user was playing, "paid to pay/earn while you play" type of thing but after some research it was clear that the difficulty of Bitcoin was to high and it was not possible to merge mine scrypt based coins.
what was needed was a fast lightweight hash function that did not use too much memory and after some research the candidates where Blake-256, BMW-256, Blake2s all of which are very fast and have as much if not more security than SHA-256.
Blake-256 won for me as it is easy to work with lots of examples on CPU/GPU/FPGA and once I had done a reduced round variant was almost as fast as Blake2s and faster than BMW-256
Hence Blakecoin was born
atm still working on the pool stuff am rewriting the block submission function as it has bugs
once the pool stuff is done I will be working on the blockchain explorer and a merged coin but a kickstarter/crowd funding for the first game title is due for xmas so need some time to work on that as well, it will be the post apocalyptic FPS MMO think Mad Max, Fallout, Diablo.
I feel that Blakecoin has a really good chance at becoming the second largest cryptographic coin for CPU/GPU/FPGA in the world but it might be a little unrealistic to think that it can surpass Bitcoin in the near future but who knows maybe 10 years from now Blakecoin will be number one
Hope that answers your questions of why Blakecoin exists and what its future is with some background on the design decisions
