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ELC

Elacoin

Algorithm:

What is Elacoin?

Elacoin (ELC) is a digital currency, based on Bitcoin and Litecoin. It operates on a peer to peer network, the same technology behind Skype and BitTorrent. Futhermore, Elacoin is completely decentralized, meaning it is not controlled by any government or central bank.

INNOVATIVE FEATURES:

Elastic Block Reward Algorithm
The more computational power you throw at it, the more each block will give. The reward is halved every nine months.
Stable Currency that Regulates Itself
Less demand? Less hashpower, less block reward, less supply. Same value. High demand? More hashpower, more block reward, more supply. Same value.
Fast Payments and Confirmations
TThe block target is one every 2 minutes, which is the perfect amount. Fast enough without running into network IO limits, or bloating your hard drive.
Open to everyone. No premining, no shenanigans.
Elacoin is not premined. Get your scrypt miners ready (a miner is included in the client), and have fun!

Release date: May 13th, 2013

Specifications

  • Block Time 2 minutes
  • Elastic block reward algorithm based on the difficulty and Moore's Law
  • The more computational power the network throws at it, the more each block will give

CoinChoose info

Current Blocks-1
Difficulty0.01387047
Reward1 ELC
Network hashrate1594838 H/s
Adjusted ratio1090376.83711 % BTC
Avgerage Profit1006357.3993856605 % BTC
Avgerage Hash1594838.0000 H/s
ExchangePrice

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