Launch date: April 21st, 2014 by Cassey
History: 1CRedit was created to be the 4th coin in the game 1BillionHex.
Although a game coin in the sense of that being the driver, it is a fully
functional cyber coin that can stand alone.
The genesis of the coin is to be something as stable as the current Bitcoin/Litecoin codebase will allow. A modified difficulty algorithm is used to attempt to minimize difficulty swings due to pool or raider mining.
Long block times and high confirmation requirements should minimize fork opportunities. They will tend to make this an "investment" coin rather than a "transaction" code.
In october 2016, dnaleor took over the 1Credit project.
Key stats:
Project started in mid April, 2014, after the first KGW exploit and a multitude of "pump and dump" short term coins have come and gone.
1 Coin payout. 1 Coin for block 1 and every block thereafter. No half life.
Total coins: (2^63-1)/100,000,000 (# of Satoshi in a coin): 92,233,720,368 (92 Billion - max supported by current code)
512 second (~8.5 minute) block time - reducing stale mining block percentages to around 2%
156 new block confirms (~1 day confirms) 16 block transaction confirms (~2.3 hours)
Kimoto Gravity Well difficulty adjustment
~1.5M years worth of coins
Blocksize limited to 16KB for fast propagation. Note this significantly restricts the number of transactions/second supported by 1CRedit, but as an investment coin, designed for fewer, larger, mostly paid transactions, this is not viewed as an issue.
Influential & highly recommended reads: http://bitcoinmagazine.com/8972/quarkcoin-noble-intentions-wrong-approach/ http://www.cs.huji.ac.il/~avivz/pubs/13/btc_scalability_full.pdf
Like Litecoin, 1CRedit is scrypt based
Ports:
Listen: 6666 (16666 for testnet)
JSON-RPC: 6667 (16667 for testnet)
Changing mining algorithm to something CPU friendly, so counter the ASIC scrypt attacks
Possibly changing the difficulty algorithm if needed to make the block times more regular
Implementing a dynamic block size limit
Mobile wallets for smartphones
Research into free transactions using TXPOW
1CRedit is released under the terms of the MIT license. See COPYING for more
information or see http://opensource.org/licenses/MIT.
Obviously, primary credit has to go to the Bitcoin and Litecoin development teams without whome this project would never have been conceived of. The wallet code was cloned from the 0.8.6.2 release of Litecoin. Addition credits go to the links below:
http://devtome.com/doku.php?id=scrypt_altcoin_cloning_guide https://bitcointalk.org/index.php?topic=149479.0
And all the folks responsible for QT, MingW32, and the other tools used to build the Windows version of this.
Development of 1CRedit was done using a Gentoo Linux environment by Cassey until september 2016
Direct 1CR: CLCqECaYpCahgKRsXJiVBzgsiz57ZHfr4u
Direct BTC: 16TwXyEmpz7xKHbyVufZECXGFmUH9wHUyW