BitMiles Home (Official) : http://bitmiles.org/
POD-CryptoAsian (verification purposes)
BitMiles (BTMi) - the official cryptogenic equivalence of frequent-flyer miles (which is known to be more valuable than money). BitMiles can be used as a means of exchange and a store of value (very much the same as your traditional flyer miles).
- 0 transaction fees
- 60 Second block target (1440 P/Day)
- 6 confirmations needed for transaction
- Uses Scrypt algorithm as PoW Scheme (N=1024, r=1, p=1)
- Coinbase maturity = 120 - allowing spending only after 1hr30min
- Difficulty retargets once per block (Using DigiShield for protection against multi-pools and an over-inflation)
- Total BitMiles to put into cirulation = 4832660000 (4.83Billion)
- Linear designed mile production (reward will halve 3 x to a minimum reward of 300 miles p/block)
- Blocks 6 - 120 will produce 0 BitMiles (giving miners 2 hours to set up equipment)
- Block 120 - 44640 starting blocks (31 days) will have 500 BitMiles per block (lower starting reward to avoid pump/dump)
- After 31 days (initial period), block rewards will increase to 2400 BitMiles p/block (over 2 years mining period)
- halving (/2) will start on block 1051200 and end on block 4204800
- mining operations will cease after year 8 (linear designed production of 4.83b)
- The default ports are 29156 (P2P) and 29155 (RPC)
Our plan with BitMiles is simple - real world use and business adoption !
- We aim to grow BitMiles into becoming the preferred (cryptogenic) ffm alterative, globally
- BitMiles will not be strapped down to a specific airline (can be used with/by any airlines that choose to partner with, and adopt the BitMiles program
- BitMiles holders will eventually (our aim) be able to redeem their BitMiles for air travel, air travel discounts (such as lounge access, class upgrades and additional benefits), and everyday goods and services (groceries/restaurants) - similar to your traditional ffm
- Unlike your traditional ffm, BitMiles will be non-unidirectional - allowing the back and forth exchange from BitMiles to/from fiat currency (meaning that you can buy/sell BitMiles without any hassle)
- BitMiles may be distributed by CC companies (as well as any other BitMiles partners) as an incentive - allowing you to obtain BitMiles (without having to participate in the actual mining thereof)
Block Reward Chart
0 - 5 = Premine of 1% for further development, bounties, promotion, giveaways, and payments (incentive based distribution)
6 - 120 = 0 miles p/block (giving miners 2 hours to set up equipment)
121 - 44640 = 500 miles p/block (low starting block reward to prevent pump/dump)
44641 - 1051200 = 2400 miles p/block (year 1 - 2)
1051201 - 2102400 = 1200 miles p/block (year 2 - 4)
2012401 - 3153600 = 600 miles p/block (year 4 - 6)
3153601 - 4204800 = 300 miles p/block (year 6 - 8)
Developers work in their own trees, then submit pull requests when they think their feature or bug fix is ready.
The patch will be accepted if there is broad consensus that it is a good thing. Developers should expect to rework and resubmit patches if they don't match the project's coding conventions (see coding.txt) or are controversial.
The master branch is regularly built and tested, but is not guaranteed to be completely stable. Tags are regularly created to indicate new official, stable release versions of Litecoin.
Feature branches are created when there are major new features being worked on by several people.
From time to time a pull request will become outdated. If this occurs, and the pull is no longer automatically mergeable; a comment on the pull will be used to issue a warning of closure. The pull will be closed 15 days after the warning if action is not taken by the author. Pull requests closed in this manner will have their corresponding issue labeled 'stagnant'.
Issues with no commits will be given a similar warning, and closed after 15 days from their last activity. Issues closed in this manner will be labeled 'stale'.