Honest Coin Initiative proposal: ReactiveCoin -- please provide feedback!

This is the first proposed coin for the Honest Coin Initiative (for more info on the Honest Coin Initiative, see https://bitcointalksearch.org/topic/honest-coin-initiative-fighting-the-shitcoin-insurgency-541165).

Algorithm: modified scrypt-jane (NFactor 9) + PoS
Block time: 30 seconds
Retarget time: 30 blocks (15 minutes)
Rewards: first 5000 at 1 per block, then 50 per block, halving in 2 years
Premine: 0%

I really like scrypt-jane for it's memory-hard approach and reduced stress on GPUs, but I get annoyed by the NFactor changes. My idea is to pick an NFactor and stay there until there's a good reason to change, then hard-fork if need be. I picked NFactor 9 just because it's the most analogous to Scrypt, so people will get similar hash rates.

I considered X11, but a.) it's not ASIC-resistant in theory because it's not memory-hard, and b.) there appears to be some more efficient GPU miners that are not being shared with the general public.

I picked the block time purely because I want to have quick confirmations.

I want to give everyone time to start mining, so I picked 5000 blocks at almost no reward to create a smooth launch (should take 1-2 days before the blocks start paying out). After that I picked 50 just because it's the standard.

Please review my proposal and provide feedback.

Topic: Honest Coin Initiative proposal: ReactiveCoin -- please provide feedback! (Read 446 times)