Topic: [ANN]Crowncoin - Merged Mining | Time Stamping | Name Your Address (Read 367 times)

Just wanted to inform you about merged-mining features build into Crowncoin core. http://crowncoin.org/
https://bitcointalk.org/index.php?topic=815487.440

Merged mining allows a miner to mine for more than one block chain at the same time. The benefit is that every hash the miner does contributes to the total hash rate of both (all) currencies, and as a result they are all more secure.

This help us to improve Crowncoins network security and introduce other new interesting features.

Crowncoin time stamps
While Crowncoin is, of course, designed to be money, the system can be "hacked" to include time stamps of actual data. Instead of crafting particular transactions that look like sending money but instead contain data, you can just include your data per design into a crown's value! Since Crowncoin has a blockchain similar to Bitcoin's, the same time-stamp process secures the data afterwards.

However, one can still argue that Bitcoin is the most secure blockchain in existence, and that Bitcoin has a better chance of surviving throughout the coming years than Crowncoin has. (While we believe that both systems will survive and be of great use, we also think that this argument is justified.)

Fortunately, Crowncoin is merge-mined with the Bitcoin blockchain: This means that Bitcoin miners can also mine Crowncoin, without any additional cost. Currently about just a few of all Bitcoin miners makes use of this possibility. The way in which merge-mining works ensures that Crowncoin blocks are, in some sense, regularly included into the Bitcoin blockchain. In other words, even if you use Crowncoin to time-stamp your data, a hash chain will eventually exist that links your data back to Bitcoin itself!

At this point, finally, CrownStamp comes in: It allows you to explicitly highlight and extract this link. This makes your time stamp independent of the Crowncoin blockchain, so that your proof can be verified just against the Bitcoin alone.

Crowncoin is with Namecoin the only "altcoin"  having merged-mining and namestamping function implemented. We can call Crowncoin merged-mined sidechain for Bitcoin.