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DRK

DarkCoin

Algorithm:

What is DarkCoin?

DarkCoin aims to be the first privacy-centric cryptographic currency with fully encrypted transactions and anonymous block transactions. These features are a work on progress and will be released in stages in the near future.

DarkCoin uses a new chained hashing algorithm approach, with many new scientific hashing algorithms for the proof-of-work. This is so that the processing distribution is fair and coins will be distributed in much the same way Bitcoins were originally. ASICs will be much more difficult to make for these algorithms and will take years.

Release date: January 18th, 2014

Specifications

  • 0.00000% Pre-mined
  • Super secure hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)
  • Block reward is controlled by Moore's law: (11111 / (((Difficulty+51)/6) ^ 2))
  • CPU only mining
  • Block generation: 2.5 minutes
  • Difficulty Retargets based on Kimoto's Gravity Well
  • 84 Million Coins Max
  • Block reward halving every 2 years
  • Encrypted transaction network: Work In Progress
  • Anonymous blockchain using coinjoin technology: Work In Progress
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