Skip to content
Permalink
Browse files

Update README.md

  • Loading branch information...
joebauers committed May 17, 2013
1 parent 7c40c35 commit dadf9e72246d952eb91c978384fbfd38da540420
Showing with 4 additions and 3 deletions.
  1. +4 −3 README.md
@@ -34,10 +34,11 @@ and
1) By helping to further Science (knowledge), the main goal of ScienceCoin is simply to better the world!

2) ScienceCoin will use the exceptional processing power and "always on" benefits of alt-coin mining to provide distributed computing solutions to Universities and *reputable scientific research facilities across the world.
* Reputable == Does not harm animals in any way.
* Reputable == Should be determined by the ScienceCoin community.
3) ScienceCoin will be directly tied to the value of Bitcoin. The ScienceCoin client will be created to devote 1/4 of the hosts processing power toward generating ScienceCoins and 3/4 will be reserved for distributed computing processes on the network. The value of 1 ScienceCoin should be the equal to
0.02 Bitcoins and will be generated every 12 hours. The number of ScienceCoins generated every 12 hours will be determined by the amount of Bitcoins that would be generated by the hashing power (1/4) of the ScienceCoin network at that time vs. https://en.bitcoin.it/wiki/Generation_Calculator.
3) ScienceCoin will be directly tied to the value of Bitcoin. The ScienceCoin client will be created to devote 1/4 of the hosts processing power toward generating ScienceCoins and 3/4 will be reserved for distributed computing processes on the network.
[* A valid case has been made to change this to 100% of the processing power - and use a different logic to provide a reward to miners - perhaps a system similar to PPC. ]
The value of 1 ScienceCoin should be the equal to 0.02 Bitcoins and will be generated every 12 hours. The number of ScienceCoins generated every 12 hours will be determined by the amount of Bitcoins that would be generated by the hashing power (1/4) of the ScienceCoin network at that time vs. https://en.bitcoin.it/wiki/Generation_Calculator.
The value of ScienceCoin will be in its rarity!

4) Mining incentive. Apart from generating ScienceCoins, miners will also receive 95% percent of the Bitcoin fees that are paid to the network for distributed computing rental periods. The other 5% will be reserved for paying developers, to provide discounts to nonprofit organizations, other initiatives required to better ScienceCoin.

0 comments on commit dadf9e7

Please sign in to comment.
You can’t perform that action at this time.
You signed in with another tab or window. Reload to refresh your session. You signed out in another tab or window. Reload to refresh your session.