What is EonCoin?
EonCoin is an innovative, secure and energy efficient PoW/PoS coin. It uses a faster PoW distribution mechanism to distribute the initial coins, then after 5 weeks the coin is basically transferred to a pure PoS coin, where the generation of the coin is mainly through the PoS interests.
EonCoin also adopt a variable PoS rate, which gives the highest payout at 20% the first year, then decrease 5% per year until the 4th year it reaches annual interest rate of 5%, then it will remain at this rate.
Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.
EonCoin will have a total of 70 billion coins. Initially each block will deliver 100000 to 900000 coins randomly. The PoW payout will be halved each week (7 days). After 5 weeks, the PoW payout will be fixed at 1 coin per block.
PoS will start after at least 20 days of holding of the coins in the wallet. With PoS, the coin is more resilient to 51% attack.Release date: April 16th, 2014
- Algorithm : Scrypt
- Pow + PoS
- Symbol : EON
- Block target : 30 seconds
- Block reward : 5000 EON
- Retarget Every block
- Max PoW coins : 1 Billions EON
- P2P port : 7201
- RPC port : 7200
- NO IPO
- Premine - 0.50 % For Bounties