What is Global Denomination?
This is the official announcement for Global Denomination, A global crypto-currency. We are based on the Bitcoin and Litecoin Networks but with several improvements that we wanted to implement such as X11 Hashing Algorithm and faster transactions (1 Minute). The X11 Algorithm is ASIC resistant currently and it is more energy efficient than mining scrypt and also you get more hashing power from your CPU and GPU miners! The Heat issues with scrypt mining rigs have also been addressed with this algorithm so for summer this is the currency to mine.We are pre-mining [0.05%] (28,000 GDN) This is to help us create a functioning community throughout the launch period.
We decided on a tiny pre-mine based our experiences prior to launch that we needed to be able to offer Denominations as incentives to our users to encourage interaction with each other on the forum and to help build our community. Such as, Denominations for the official faucet, tips for posts in the forum, bounty’s for services and much more.
- Target block times of 1 minute,
- Block reward of 40 GDN,
- Rewards mature after 5 Blocks,
- Rewards halve after 700k Blocks (+ 1 Year).
- Super Secure X11 Hashing Algorithm
- Difficulty is recalculated by Kimoto’s Gravity Well Patched For Time Warp.
- A total of 56 million GDN to be mined (21 Million in 1st year.)