Skip to content

Latest commit

 

History

History
52 lines (35 loc) · 2.23 KB

COINSPECS.md

File metadata and controls

52 lines (35 loc) · 2.23 KB
Raw

SYSCOIN

COIN SPECS:

MINING HASH ALGORITHM: Scrypt

MINING ADDITIONAL FEATURES: Merge Minable with any scrypt coin.

BLOCK TIME: 1 Minute

RETARGET INTERVAL: every block using fast response KGW

MAX COINS: 2 billion

REWARD: 128 SysCoin and regenerated network services fees (block reward decays on fixed schedule until rewards fixate at 32 Syscoin until 2bil coin, after which rewards are purely network and service fees). Please see https://bitcointalk.org/index.php?topic=587080.0 for the rewards schedule table in a nice to read table format.

SERVICE FEES: All services provided by this coin (see below) incur fees; these fees are redistributed to miners by being regenerated (instead of being destroyed forever like with namecoin). Service fee rewards are equal to the average of the average of sums for service fees incurred on the network during time periods (bT - 12 hours), and (bT - 1 hours).

COIN FEATURES:

  1. Alias reservation, ownership and transfer. Use cases: DNS, online identities, key storage

  2. Data storage and retrieval, provable ownership and transfer of digital content. Use cases: Ownership / storage / transfer of provably-unique signed digital documents such as deeds, wills, trusts, titles, contracts, etc.

  3. Distributed marketplace platform. Use cases: Distributed, anonymous auction / physical and digital goods marketplace / exchange system. Create marketplaces and buy and sell anything anonymously online using the blockchain as the platform.

  4. Distributed digital certificate issuance. Register as a certificate issuer and issue any kind of certificate to anyone on the Syscoin network. Use cases: software licences, certificates, receipts, tickets

(coming soon)

  1. Highly structured data storage and retrieval. Store archives in the blockchain (tar / zip / bz2) and request files stored therein using URL-like syntax. Test use case: decentralized websites.

  2. Election / voting platform: conduct provably fair, transparent real-time elections and polls using blockchain technology.

  3. Encrypted data storage and transfer via the blockchain. Leverage the asymetric keypairs in your wallet to go beyond just signing transactions to communicating securely using the blockchain. Encrypt and communicate to anyone on the blockchain.