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README.md
orangecoin-qt.pro

README.md

OrangeCoin (OC)

Orangecoin is a unique combination of POW distribution with POS minting to secure the network. Orangecoin distribution will start on April 27, 2014 with a limited 2 week mining period. After the initial release of 50 million coins, POS interest will be earned at a rate of 20% in the first year, 10% in the second year, 5% in the third year down to a constant 2.5% interest.

PoS will start after at least 14 days of holding of the coins in the wallet. With PoS, the coin is more resilient to 51% attack.

Other Specifications:

  • 2 minute block target

  • 5000 coins per block initially

  • PoW completely remvoed from block 10000

  • Difficulty retargets every block

  • PoS variable interests:

    • 1st year: 20%
    • 2nd year: 10%
    • 3rd year: 5%
    • 4th and subsequent years: 2.5%
  • Total coins will be 200 million

  • 4 confirmations for transaction, thus fast 8 mins confirmation for transdactions

  • 300 confirmations for minted blocks

  • .5% premine for development, support and maintenance, new feature developments etc.

  • Ports: 18872 (connection) and 18873 (RPC)