Topic: [ANN][MCN] Moneta Verde - CryptoNote coin with difficulty-BR (lnch at 15:00 GMT) - page 17. (Read 62456 times)

It might help to mention which algo you're using

Launched!






Abstract: block_reward = log2(difficulty) * 2^40(difficulty)

Details:

Deflation is a very serious problem for all cryptocoins because it prevents them from being used as payment mean. For most coins block reward decreases in time and this increases deflation rate. For PPC-derived coins (PrimeCoin etc) the problem is even worse as soon as they offer difficulty-based block reward formula that makes block reward inversly proportional to difficulty (i.e. difficulty goes up and block reward goes down). I consider both practices to be counterproductive.

Moneta Verde is the first cryptocoin with blockreward increasing together with difficulty. Why this is a good idea?

1. Money supply goes up with difficulty increase. As soon as difficulty increase usually happens due to an increased demand this will lead to money supply being dependent on demand. This way MCN will has a slower deflation rate than other coins.

2. Instamine is now useless because block reward is close to zero on low difficulty blocks. This will give us a better coins distribution.

Block reward formula is a fixed point implementation of log2(difficulty). This means that block reward increases much slower than difficulty: for 1 coin to be added to block reward a difficulty must be increased twice. This rate looks to be reasonable.

More details:

- block target - 60 seconds
- CryptoNight PoW
- difficulty retarget every block
- merged mining with Monero, QuazarCoin, Bytecoin or any other CryptoNight-based coin
- total supply: infinite

Naming:

Moneta Verde (it) means "green coin": this coin uses already existing mining resources (MM) and it's supply is regulated by mining community.

Launch date:

June 17, 2014.

Setup instruction for Windows and Mac


1) Download MonetaVerde and BCN/MRO/QCN binaries.

2) Launch BCN/MRO/QCN daemon and wait till its synchronization.

3) Start MonetaVerde's daemon. The process is very similar to BCN/MRO/QCN's: launch command line, navigate to the right folder and launch monetaverded.exe .
Use "save" command after synchronization.

4)Create MCN's address. Again it is the same process as for BCN/MRO/QCN: open another instance of command line, navigate to MonetaVerde 's folder and generate new wallet with "simplewallet".


Here "example_wallet.bin" is the name of the wallet (use .bin file extension) and "12345" is the password for your new wallet.

5) One more command line is needed. Navigate to MonetaVerde 's folder and launch minerc.exe using the next command:



--node1=127.0.0.1:8081 is IP and BCN's daemon port.

Use this IP and port for MRO:
--node1=127.0.0.1:18081 instead

And for QCN use this:
--node1=127.0.0.1:23081
--node2=127.0.0.1:24081 is IP and MCN's daemon port

6) PROFIT!