MintCoin 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.
MintCoin 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.
MintCoin 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.
- Ports: 12788 (connection) and 12789 (RPC)