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MINT

Mintcoin

Algorithm:

What is Mintcoin?

MintCoin 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. MintCoin 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.

Release date: February 6th, 2014

Specifications

  • 30 seconds block target
  • 100000 - 900000 coins per block initially
  • PoW payout will be halved every week for the first 5 weeks
  • After 5 weeks, the PoW payout will be fixed at 1 coin per block
  • Difficulty retargets every block
  • PoS variable interests:
- 1st year: 20% - 2nd year: 15% - 3rd year: 10% - 4th and subsequent years: 5%
  • Total coins will be 70 billions
  • 4 confirmations for transaction, thus fast 2 mins confirmation for transactions
  • 50 confirmations for minted blocks
  • 1% premine for bounties, giveaways, development, support and maintenance, new feature developments etc.
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