Topic: [ANN][LANIAKEY][noPremine]-POW-Cryptonight.Broken economics.reverted-diff (Read 899 times)

ABOUT

The name “Laniakey” comes up from the galaxy supercluster Laniakea we live in.
Laniakey using dedicated team development method but everyone is free to contribute even to determine the direction of the project as long as supported by the Community.
The LNK main goal is to become a secure, fast, easy and untraceable online & offline payment & storage tool. In addition to developing the Laniakey Core itself,
the next development that we will do is to provide integration of messenger and storage for people to have an ability to burn, pay, spend and get coins,
store their files and share digital notes. By providing such integration, it is expected that LNK will be widely adopted by online mass adoption.





SPECIFICATIONS

Laniakey is a decentralized network based on an open-source technology CryptoNote. https://cryptonote.org/whitepaper.pdf
Provides users with a completely anonymous payment scheme (RingCT 101max) https://eprint.iacr.org/2015/1098.pdf
The initial LNK source code (v.0.9.9) is a MonetaVerde fork.

Premine: 0% but 12 blocks to stabilize the difficulty
Mining Algorithm: PoW, CryptoNight Classic (for now)
Ticker: LNK
Coin Supply: Infinite
Block Reward: Initial block reward is ~.15 LNK increasing every block by special formula when the hashrate rises up twice
Block Target Time: ~1 min
Rev-Difficulty: Own Difficulty. Insanely changed but highly predictable
Decimal Points: 12
Transaction Fee: 0.00001000000
Confirmation Maturity: 10
P2P Port: 26080
RPC Port: 26081





MORE

Now more unofficial talks. Something difficult about difficulty.
The Laniakey Network is the real try to break inflating economics of PoW chains and tell people what the technology really is.
Own Written Difficulty based on “additional” coins to the block reward to regulate the pricing and popularity of the network already works.
Me personally didn’t know where it can lead us and don’t expect much adoption at the start. So the next manipulations were done:
Back to CryptoNote Classic to speed down the coin producing and to look like a more average network.

Increased tX fees to spread money easier. Simply saying we’ve chosen CN-Classic for now because the Community still needs some inflation to warm up miners’ interest.
But even in this scenario mining with ARM or tons of ASICs, it’s proportionally increasing for everyone.
Why we need this?
Ok, the network cancels additional reward if miners are leaving. The price raises cause lack of coins. When miners come back the network increases the block reward to satisfy the popularity. The price dumps to average.
The same point says you not to HODL anymore. The more coins you have the less valuable they are. Anytime you can connect and mine as many coins as you need, without abusing others.
I also tried to fix the value around half of a kilowatt to create a good payment method.




Roadmap UPD:

This year we will have an inside kind of data market of transfer and storage, so as the network pushes you to get rid of the coins you are welcome to do it in the wallet. Pay more commissions for increased anonymity, make letters and bytes you send pre-paid, etc. to spread money randomly and faster.
Also this year we plan to catch up a huge Community, the network keepers and push out the New Algo with Dandelion++ if I will be smart enough and of course stop being GPU & ASIC-Friendly anymore. Really. No. The network hashrate decreasing will far more effectively show the potential of Reverted Difficulty. Nerva’s and Turtle’s Shell seems to be pretty safe, so the choice is done.
Keep a hand on pulse, the roadmap will be updated.