[XEM] - updated botnetprevention - New Altcoin Idea - Proof of Uptime (PoU) - page 2.

I am presenting my new Concept:

XEM - X(CountryLess PreChar) Economic Money

Algorithm: Proof of Uptime (PoU)
it will be tracked the uptime of the client. The longer it's online, the higher the chance of being chosen for solving the next block.
This makes of course only sence, for one ip-address, so the system will check, that all uptimes for the current round are coming from different ip addresses. Otherwise someone can fake multiple uptime accounts.

For preventing bot nets and multiple vps:
Every miner has to be registered on some institution, where they Check for the passport.
The miner Gets a Mining Key.
This is only for "Mining". Normal wallets doesn't need that registration.

Advantage:
- no wasting engery as with PoW
- no unfair advantage with a big amount of coins as with PoS
- high availability of systems
- 51% attack nearly impossible

Coin Maximum: about 1 Billion
5 minute transaction time (288 blocks per day)

Coin Distribution
Beginning: 58000 XEMs every Block
halfing the amount every 8.640 Blocks (about 1 month)
Total Coin Distribution Time: 12 Months
After that 12 Months only transaction fees.

"Premine" for development and marketing:
12 hours => about 0,83%

Interested? Programmers?

Topic: [XEM] - updated botnetprevention - New Altcoin Idea - Proof of Uptime (PoU) - page 2. (Read 1689 times)