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README.md

SolaceCoin

Development Resources

Introduction

SolaceCoin is a cryptonote currency and an indirect for of the well-known Monero currency. Inherited from Monero are strong security, privacy and untraceability features that form a solid basis for further development. Our mission is to enhance the cryptonote protocol to provide a lightweight, secure, well maintained and actively developed (no-nonsense) coin.

Some main differences compared to other cryptonote coins are:

  • We use a 60 second block window which reduce transaction times
  • We enforce a minimum transaction mixin of 2 to fight blockchain analysis which could compromise privacy
  • We actively cooperate with other cryptonote coins and do not treat them as competition.

Development funding

We do not have a premine. Instead we have a project development reward that causes coins to unlock with every block that is found. The algorithm (see below) will start with unlocking 6% of the block reward but gradually reduces to 0% in the next 10 years. In total a maximum of 2% of the total coin supply will be unlocked for development.

f(x) = 0.06 * (1 - sqrt(x)) where x = current_supply / max_supply S.T. current_supply <= max_supply
  • 30% of the development fee will go into the charity support wallet.
  • The rest development fee will be used to pay for development, exchanges and marketing.

Coin Supply & Emission

  • Total supply: 21,000,000,000 coins in first 20 years which is followed by a tail emission each year for inflation.
  • Coin symbol: SOLACE
  • Coin Units:
    • 1 Nano-Solace  = 0.0000001 SOLACE (10-7 - the smallest coin unit)
    • 1 Micro-Solace = 0.0001 SOLACE (10-4)
    • 1 Milli-Solace = 0.1 SOLACE (10-1)
  • Hash algorithm: CryptoNight (Proof-Of-Work)
  • Emission scheme: Solace's block reward changes every 6-months as the following "Camel" distribution* (inspired by real-world mining production like of crude oil, coal etc. that is often slow at first, accelerated in the next few years before declined and depleted). This great emission scheme was first introduced in Sumokoin.

Versions

Fork Date Consensus version Minimum Solace Version Recommended Solace Version Name/Details
2018-04-11 v1 v0.1.0 v0.1.0 "Colossus of Rhodes" / First version
2018-04-12 v2 v0.1.1 v0.1.1 "Colossus of Rhodes" / Hard fork to solve transaction fees
2018-04-19 v3 v0.2.0 v0.2.0 "Hanging Gardens of Babylon" / ASIC Resistance - CryptoNight-Heavy

DONATIONS

You can easily donate SOLACE to our charity wallet directly from the CLI Wallet using "donate" command.

Roadmap 2018

Quarter 2 -Launch SolanceCoin - Completed -Completion of the SolaceCoin Website -GUI Wallet c -Web Wallet -Exchange listing -Charity voting website completion

Quarter 3 -Mobile Wallets -Medical Crowdfunding by Solace -Add more developers to the team -More Exchange listings -Mine for your charity script

About this Project

SolaceCoin is a cryptocurrency with a difference and does exactly what the name says. Definition of Solace “comfort or consolation in a time of great distress or sadness.”

SolaceCoin has two functions

  1. Helping charities to help others in need of medical attention but cannot afford it – Please read below.
  2. Serving as a currency for daily usage

License

Please view LICENSE

License

How to get started with SolaceCoin Wallet

-Download and extract the latest zip file for Solace -Start solaced.exe . This will take approximately an hour or more to synchronize the blockchain. On successful completion, you will see a green message "SYNCHRONIZED". -Start solace-wallet-cli.exe to create a wallet. Please ensure to keep the wallet key and seed words in a safe location. -Once your wallet address is ready, you can start mining, by referring to one of the pools listed on the website. https://www.solace-coin.com/

Good Luck!