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README.md

MintCoin (MNT)

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 PoW completely remvoed from block 220000

  • 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)

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