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eoncoin

EON

EonCoin

Algorithm:

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

Specifications

  • 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
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