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heavycoin

HVC

Heavycoin

Algorithm:

What is Heavycoin?

Heavycoin introduces a novel ultra-secure hashing algorithm that employs multiple redundant cryptographic hash functions to secure its block chain. Bitcoin and most other crypto-currencies rely on a single cryptographic hash function, such as SHA-256. Heavycoin aims to improve security by following the old adage of not putting all the eggs in the same basket.

Release date: March 8th, 2014

Specifications

  • ASIC-resistant: Introduces HEFTY1, a novel approach to ASIC-resistant proof-of-work
  • Ultra-secure: combines SHA-256, Keccak-512, Grøestl-512, BLAKE-512 in a secure way
  • Block time: 2 Min
  • Retarget up: Every 5 blocks (max 100%)
  • Retarget down: Every block (max 400%)
  • Starting block reward: 0 (for first 100 blocks ~ 3.3 hours)
  • Block reward: 1024 max (decentralized block reward voting)
  • Total supply: 63M to 128M HVC (depending on decentralized block reward voting)
  • Multipool protection: Temporal Retargeting
  • Premine: 1-2% (depending on total supply) for future development, support and maintenance
  • Bounties: 1-2% (depending on total supply) for strategic direction and promoting of heavycoin
  • IPO: 4-8% (depending on total supply) already distributed over 172 stakeholders
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