Topic: [PRE-ANN] FalCoin | NIST5 Algo | Tor Support | Democratic block Reward (Read 13605 times)

Secure Hash Algorithms NIST SHA-3 candidate algorithms

- Implementation based on the National Institute of Standards and Technology (NIST) publication.
(cf. http://nvlpubs.nist.gov/nistpubs/ir/2012/NIST.IR.7896.pdf)

The NIST hash function competition was an open competition held by the US National Institute of Standards and Technology (NIST) to develop a new hash function called SHA-3 to complement the older SHA-1 and SHA-2. NIST selected five SHA-3 candidate algorithms to advance to the third (and final) round: BLAKE - Grøstl (Knudsen et al.) - JH - Keccak (Keccak team, Daemen et al.) - Skein (Schneier et al.)

NIST noted some factors that figured into its selection as it announced the finalists:
•   Performance
•   Security
•   Analysis: "NIST eliminated several algorithms because of the extent of their second-round tweaks or because of a relative lack of reported cryptanalysis – either tended to create the suspicion that the design might not yet be fully tested and mature."
•   Diversity: The finalists included hashes based on different modes of operation, including the HAIFA and sponge function constructions, and with different internal structures, including ones based on AES, bitslicing, and alternating XOR with addition.

Why NIST5 over other Algorithms.

Since NIST5 is much less strenuous on graphics cards, it runs a lot cooler and saves a lot on electricity costs. This is an extremely important factor, the NIST5 algo can run coolly without any added external cooling and hence allowing for more underclocking and undervolting. It’s a win-win situation!




Features


√ Democratic block reward voting
√ algo based on NIST SHA-3
√ cpu/gpu miner

Specifications

√ Currency: FALC
√ Algorithms: NIST5: BLAKE - Grøstl - JH - Keccak - Skein
√ Block time: 60 Sec.
√ Cofirmations: 3
√ Block reward: 0-5 max (decentralized reward voting), default: 5
√ Max Supply:  10,000,000 FalCoins
√ QR code support
√ TOR support
√ Premine: 0.50% for bountys and other Services

Release Date: Saturday July 12th   
TIME: 20:00 US & Canada Central Time

Github Source:  Saturday July 12th

Wallets:

windows: Saturday July 12th   
Mac: Saturday July 12th   
Linux: Saturday July 12th   
android: Monday July 14th   
Online Wallet: Monday July 14th