Looks like another instamine.
First, 99 blocks were mined around 6-7 hours prior to the launch. These are separate to the premine on block #1. I may be missing something, but I can't find anything in the ANN about mining an extra 99 blocks.
Then block 101 and onwards was mined from around 4 minutes before the official launch.
Zeitcoin (MNT)
Zeitcoin is an innovative, secure and energy efficient PoW/PoS coin. It uses a faster PoW distribution mechanism to distribute the initial coins, then after 5 weeks the coin is basically transferred to a pure PoS coin, where the generation of the coin is mainly through the PoS interests.
Zeitcoin [MINT] also adopt a variable PoS rate, which gives the highest payout at 20% the first year, then decrease 5% per year until the 4th year it reaches annual interest rate of 5%, then it will remain at this rate.
Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.
Zeitcoin will have a total of 70 billion coins. Initially each block will deliver 100000 to 900000 coins randomly. The PoW payout will be halved each week (7 days). After 5 weeks, the PoW payout will be fixed at 1 coin per block.
PoS will start after at least 20 days of holding of the coins in the wallet. With PoS, the coin is more resilient to 51% attack.
Other Specifications: - 30 seconds block target - 100000 - 900000 coins per block initially - PoW payout will be halved every week for the first 5 weeks - After 5 weeks, the PoW payout will be fixed at 1 coin per block - Difficulty retargets every block - PoS variable interests: - 1st year: 20% - 2nd year: 15% - 3rd year: 10% - 4th and subsequent years: 5% - Total coins will be 70 billions - 4 confirmations for transaction, thus fast 2 mins confirmation for transdactions - 50 confirmations for minted blocks - 1% premine for bounties, giveaways, development, support and maintenance, new feature developments etc.
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https://github.com/zeitcoin/zeitcoinAnother copy-and-paste coin instamined before release claiming to be "fair". Good job.
