Topic: Project Nemesis - Spec and alog submission (Read 2783 times)

thats a clone generator. it won't help to put in special characteristics.

Do u think this site may help to create this Alt Coin ?

http://coingen.io/

Its a great Idea. but i'd rather prefer 1min block time(i think 1 min blk time is becoming standard now-a-days and also i predict that in future the even 1min will be considered slow).
and after 5yrs blk reward is 10coins per block. because 100 per blk will be ok for a decade, but on a long run it will not be cool. you can even cosider this after year 5 the rwd is 100/blk and after year 10 it is 10/blk
this spec will change the soft cap to 2bil. so in order to maintain the 1bil cap the initial rwd  should be changed to 1000

Algorithm: Scrypt (I do like the other variation of  Scrypt but my only concern is  hash collision with those Algo, Scrypt is battle tested)

Soft Cap: 1 Billion
Block time: 2 minutes
Block Rewards: 2000 coins per block
Halves every - 26300 blocks (~1 year) {Halves for the next 5 years}
Soft Cap reach in about 5 years after which Block reward - 100 coins per block
Difficulty Re-Target Time: 2.5 days or every 2016 blocks
Premine:  Nill

Ok so the idea if fairly simple have a coin that can exist for a  long time and can  cater to  a  large population without creating a hyper-deflationary Environment. i.e prices of coins shoot up to become expensive and people  resort to using fractional denotation.

This system would also replenish the coin pool of lost and destroyed coins over the years. There is a  Soft cap of  1 billion which is reached in about  5 years and after that the block reward for each block will be  at 100 coins.

The aim it to have this  coin close to the national currency as possible so that the integration phase would be simpler and faster.

The effect will still be deflationary in nature as after 5 years only one set  amount of coins will be  generated  every year and this will be  fare more beneficial. As more miners enter and more pools start up the distribution of the coins  will also start to spread and diminish. this will create a shortage supply and a deflationary environment. but the deflationary curve would be  much slower.

In short No cap on coin. Total soft cap at 1 Billion, and there after generate about 26,300,000 coins per year.

I am also taking into account the population growth from about a 1.3 billion to about 2 billion in about the next 40 years.
This Coin would also mimic the  same rate of  growth reaching about 2 billion in the next 40 years.


What do you think of it ??

Yes, first 5 years is the critical for any new coin. People's acceptance will be determined in that period.
Above calculation is without considering the initial extra payout days, 2 special days per year, rounded-off numbers & leap years. Considering all these it will come out less than 190 years. Considering Bitcoin's mining is for 131 years an extra few years won't be an issue. If everyone feels that we need to reduce these years, I can workout on the math to  increase the special days from 2 to 9 (include indian festivals) and reduce the mining years to 99

Ok. now that's more clear . i also agree no.9 could be lucky for all of us  .
but 2.86mil/year could take roughly 190 years to max out. i don't think it will be attractive for others to accept. even something like 50-80 years could be sold. this only my view.
some might take another view- 47% comes out in 5 years and after that 3%inflation every year. yes! this might have a strong future given that miners get their share for 200yrs and so the network would be protected.

Here is the simple math, without special days.
Calculation for 5.25 years ( 7 periods - each period of 9 months )

Period:  0, Block Reward: 999.00, Coins for this period: 238.02 M, Total coins generated: 238.02 M
Period:  1, Block Reward: 499.50, Coins for this period: 119.01 M, Total coins generated: 357.02 M
Period:  2, Block Reward: 249.75, Coins for this period: 59.50 M, Total coins generated: 416.53 M
Period:  3, Block Reward: 124.88, Coins for this period: 29.75 M, Total coins generated: 446.28 M
Period:  4, Block Reward: 62.44, Coins for this period: 14.88 M, Total coins generated: 461.16 M
Period:  5, Block Reward: 31.22, Coins for this period: 7.44 M, Total coins generated: 468.59 M
Period:  6, Block Reward: 15.61, Coins for this period: 3.72 M, Total coins generated: 472.31 M
Period:  7, Block Reward: 7.80, Coins for this period: 1.86 M, Total coins generated: 474.17 M
Period:  8, Block Reward: 3.90, Coins for this period: 0.93 M, Total coins generated: 475.10 M

After period 6 onwards, the block size will be constant of 9. i.e., After 5.25 years there will be constant supply of ~2.86 M coins per year.

The nos do look fancy. i did some calculations on those and i see we'll never reach 1billion coins.
does the first 9 months start from day1 or day5? how blocks did you calculate for nine months and how many for a day?

Algorithm : Scrypt-Adaptive-Nfactor (Not scrypt-jane. This is the same one being used in VertCoin)

Total Coins : 999,999,999      ( ~1 billion )

Block Time   : 99 Seconds
Block Reward : 999

Block reward halves for 9 months

Early Adopters:
day1 - 5x coins ( 5 * 999 )
day2 - 4x coins ( 4 * 999 )
day3 - 3x coins ( 3 * 999 )
day4 - 2x coins ( 2 * 999 )
day5 onwards - 1x coins ( 1 * 999 )

Special days:
Jan 26 - 2x coins ( 2 * previous day block reward )
Aug 15 - 2x coins ( 2 * previous day block reward )

Coins Supply:
0  -  9 months  : ~317 million
10 - 18 months : ~(317 + 158) million
18 - 27 months : ~(317 + 158 + 79) million

I spent more time analyzing your  submission then working on my spec, i have to tell you it is a  good  recommendation and i  have  made  adjustment to my spec after looking  at  some of  yours,  will  submit it  in a  few  hours.

for the difficulty retarget time we can have like 24hrs or 48hrs. so we won't have frequent switching by the miners.
And also we won't want it too long


even the momentum agorithm(with SHA512) has a opencl miner now. https://bitsharestalk.org/index.php?topic=2598.0. this system is unfamiliar with most of the miner here. so it might take some time for others to get used to it and understand how to mine... but this might have a good take in the future.

but scrypt jane is a bit familiar with the community. it can reach out fast.

Here The block reward gets reduced by 10% every 60 days(2months) - This give a gradual decrease in the supply and doesn't create any sudden stir in the market.

Scenario 3 - Approximate Money supply - 345million

block time : 60sec
blocks per day : 1440
Block Reward : 400

Total Money Supply:
1 year : ~161.93million (Blk.Rwd - 236.196)
2 years: ~247.99million (Blk.Rwd - 125.524)
10 years: ~344.97 million (Blk.Rwd - 0.798)
20 years: ~345.59 million (Blk Rwd - 0.001)


Scenario 4 - Approximate Money supply - 1.726 Billion

block time : 60sec
blocks per day : 1440
Block Reward : 2000

Total Money Supply:
1 year : ~809.66 million (Blk.Rwd - 1180.98)
2 years: ~1.239 billion (Blk.Rwd - 627.621)
10 years: ~1.724 billion (Blk.Rwd - 3.993)
20 years: ~1.728 billion (Blk Rwd - 0.007)

here is the spread sheet for every 2months https://mega.co.nz/#!GpZFxBRD!cEIZ1SZiRtLZCKz9AHXSxEdXfEaIb1fhNgk3pQCpEU8

Sorry guys i didn't know you started a new thread. i posted these on the first thread itself

i've these ideas inspired by the protoshares.

I've also taken the view of Benson about the total pop of the 7 countries
Total Population: 1726890000
Total Families : 345378000

The block reward gets reduced by 5% every 60 days(2months) - This give a gradual decrease in the supply and doesn't create any sudden stir in the market.

Scenario 1 - Approximate Money supply - 345million

block time : 30sec
blocks per day : 2880
Block Reward : 166.6

Total Money Supply:
1 year : ~100million
2 years: ~165million
10 years: ~330 million (Blk.Rwd - 8.079)
20 years: ~344.5 million (Blk Rwd - 0.372)
30 years: ~345 million (Blk Rwd - 0.017)


Scenario 2 - Approximate Money supply - 1.726 Billion

block time : 30sec
blocks per day : 2880
Block Reward : 833

Total Money Supply:
1 year : ~502 million
2 years: ~826 million
10 years: ~1.650 billion (Blk.Rwd - 40.395)
20 years: ~1.723 billion (Blk Rwd - 1.861)
30 years: ~1.726 billion (Blk Rwd - 0.085)

here is the spread sheet for every 2months https://mega.co.nz/#!rgBCiBTA!LDQ8G3wfcrZVtOH8gTXDk6Nse1GTBlCBRGSSTOmtXpw

If we are going for GPU then scrypt jane perhaps since it will be resistant to first generation asics .. or else if we look at cpu then there are a few algos but cpu would give rise to botnets which would be a cause of concern as the network grows.

same  here, busy ckz of the meetup on the weekends.

Will start on the specs  today and  i hope  other  will also  submit  their  own, so that we can  chose the  one  the  suites  this  project the best.

Ok i'll be honest I haven't looked into this much due to scarcity of time .. but are we looking at scrypt or cpu ?

No one yet?

Please post all the spec and algo recommendation here.