Topic: [IDEA] ALTCOIN - New Crypto Coin **** NEEDS YOUR SUGGESTIONS **** - page 2. (Read 2757 times)
December 31, 2013, 05:13:21 AM
No, please
December 31, 2013, 05:10:05 AM
reserved
December 31, 2013, 05:09:22 AM
What a unique name
December 31, 2013, 05:08:24 AM
December 31, 2013, 05:00:12 AM
What features attract you most in all cryptocoins?
Please Tell Us!
We will try to implement the features you like.
December 31, 2013, 03:55:24 AM
We want to create a new cryptocoin with integration of many features from other cryptocoins, we plan to name this new coin as "ALTCOIN" which means it combines many good features from other coins.
So I design ALTCOIN with following features:
1. ALTCOIN uses scrypt or momentum as its proof of work scheme (scrypt or momentum is not decided)
2. ALTCOIN combines both POW and POS (proof of stake), if POW uses momentum, then a lot of work need to be done to make momentum coin like protoshares supports POS feature
3. ALTCOIN has a total number of 1,000,000,000,000,000(1 million billion, 1 quadrillion ) COINS
4. ALTCOIN has a 15 seconds block time
5. ALTCOIN has a random POS annual interest between 0.01% to 0.1%
6. ALTCOIN has a block reward mechanism to make it a really fair coin (k means 1000, m is million, b is billion):
- block number block reward
- 1 to 10k blocks: random 0 to 100 coin
- 10k+1 to 100k blocks: random 0 to 200 coins
- 100k+1 to 1m blocks: random 0 to 400 coins
- 1m+1 to 10m blocks: random 0 to 800 coins
- 10m+1 to 100m blocks: random 0 to 1600 coins
- 100m+1 to 1b blocks: random 0 to 3200 coins
- From block 1b+1, maximum block reward halves every 1 billion blocks (random 0 to maximum block reward), stop halve while maximum block reward less than 100 coins
7. ALTCOIN will have a pre-ann and thread published serval days before its official release, and also an official website and pool accompany with its release.
8. ALTCOIN will have a similar releasing and marketing process like dogecoin and earthcoin.
9. ALTCOIN will have a premine of 2048000 coins (0.0000002048% of total number), all the premine will be used for dev, support, bounty and giveaway etc.
I have the following questions:
1. Which POW algo do you think better? Scrypt or momentum? Why? (For Scrypt can be mined using both GPU and CPU, and momentum can only be mined by CPU)
2. What your opinion about POS scheme? Do you think we need POS? Why? (Someone think POS will kill the cryptocoin community)
3. How do you think about the total number and block time of ALTCOIN? Need your analysis.
4. Is ALTCOIN's block reward method good and fair enough for a long term running cryptocoin? We want to make ALTCOIN a long term thing.
So, please analysis ALTCOIN in the above 4 aspects, tell us what you think. We need your suggestion.
All suggestion are welcome, you can contact with me using [email protected] .
Wish CryptoCoin has a glorious future!
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