Topic: Slimcoin Relaunched bringing Proof of Burn Block Gen and New Hashing Algorithm - page 2. (Read 2780 times)

Yes.

Looks like this will be the first time I actually mine.

Am I reading this right, that my slow computer will have equal, chance for a block as everyone who has fast computers/cards?

Its been fixed read the original thread....

this cause by broken wallet that stuck in 192XX
but now they fixed it, maybe 

=================================

hey, my wallet still stuck in 191xx
is there any solution for my problem?

looks interesting

Broken wallets, broken exchanges, i dumped this coin. No point in relaunch dev, sorry.

https://bitcointalksearch.org/topic/ann-slimcoin-proof-of-burn-new-block-gen-mineable-by-low-power-computer-613213

Nothing but problems, bugs, forks, and tons of other shit that went wrong for this coin.

I do not understand this kind of "relaunch". 18K blocks mined already.

RESERVED

Specifications

• Uses Dcrypt algorithm, an algorithm made to be difficult to implement on an ASIC.
                This is done so that by the time any ASICs are made, Proof-of-Burn hash became bigger than Proof-of-Work
• Tri-Hybrid Blocks: Proof-of-Burn blocks, Proof-of-Stake blocks, Proof-of-Work blocks
• Block time is 1.5 minutes (90 seconds)
• Difficulty re-targets continuously
• Block Rewards:
  • Proof-of-Burn blocks: max 250 coins
  • Proof-of-Work blocks: max 50 coins
• Block rewards decrease in value as the difficulty increases
• Total 250 million coins

General Details of What is New
Slimcoin burn mining is truly ASIC-proof.

The main point of Proof-of-Burn is that "superior and faster mining hardware offers no advantage".

With all of these ASICs coming out for Scrypt now, many people are coming up with "ASIC proof" algorithms. Those are simply patches since mostly anything can be implemented on a custom ASICs an it is wrong to claim any hashing algorithm is ASIC proof. The best ASIC resistance is to not need them at all. Slimcoin utilizes that exactly. It does not focus on proof-of-work that much. It uses a new method of coin generation called proof-of-burn. Long story short, competitive mining can be done with a Raspberry Pi (super-low-power computer), literally.

Proof of Burn and Low Power Requirements:
        Proof-of-Burn mining is different from Proof-of-Work mining. More computers and higher computational power offers no advantage over slower computers. In short, how this is achieved is: when one burns coins, that transaction can be used to calculate burn hashes. There is also a multiplier that is multiplied to the raw burn hash to calculate the final burn hash. The greater amount of coins burnt by a user, the smaller the multiplier will be and the smaller the burn hashes will be. The smaller the burn hash is, the more likely the hash will meet the difficulty target (be accepted by the network as valid). Over time, the multiplier of a single burn transaction increases slowly, lowering the effectiveness of those burn hashes, acting like "decaying burnt coins". Per transaction, only 1 burn hashes is needed to be calculated per ~90 seconds. The reason low power can mine this is because basically almost any machine can hash a few SHA256 hashes in ~90 seconds. More information on Proof-of-Burn can be found here.

Technical Whitepaper:
An extensive explanation of what Slimcoin has new to offer: Slimcoin Whitepaper PDF

Downloads:
Executable available for both Linux and Windows
https://github.com/slimcoin/slicmoin-executable

Config File:

Exchanges:
BTER SLM/BTC
exarena SLM/BTC

Pools
Slimcoin pool
Block Quarry Slimcoin Pool
Slimcoin HashHarder

Slimminer Downloads
Windows
Source Code

Tutorial for Linux source code compilation: https://bitcointalksearch.org/topic/m.7192912
Tutorial for Windows source code compilation: https://bitcointalksearch.org/topic/m.7090075

IRC Channel
#OfficialSlimcoin

Reddit
http://www.reddit.com/r/slimcoin/

Donation Address for Bounties:
ShooqRfkshDajLTvYMEKRKxXW7ooZLBZsm