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OlympicCoin

OLY

OlympicCoin

Algorithm:

What is OlympicCoin?

OlympicCoin is a new generation of scrypt POW coin that is descendant of Litecoin. Like Litecoin it uses scrypt as a proof of work scheme.
OlympicCoin is launched at start of Sochi Winter Olympic Games. During the first month, it will distribute 1894 – 2014 coins per block randomly. Also, every hour there will be a random Bronze Medal Block that has 5000 coins. Every 6 hours there will be a Silver Medal Block with 7000 coins, and every 12 hours there will be a Gold Medal Block with 10000 coins. OlympicCoin has a total of about 322,649,400 coins.

Release date: February 7th, 2014

Specifications

  • 1st 2 days the payout will be 1.5 times! (including medals)
  • 3 minutes block target
  • Difficulty retargets each block
  • During the first month 1894 - 2014 coins per block randomly and specials*!
  • Specials during first month: every hour there will be a random Bronze Medal Block that has 5,000 coins. Every 6 hours there will be a Silver Medal Block with 7,000 coins, and every 12 hours there will be a Gold Medal Block with 10,000 coins.
  • After the first month, the coin payout block will decrease gradually:
    • 15,001 - 50,000 > 1000 coins per block
    • 50,001 - 150,000 > 500 coins per block
    • 150,001 - 300,000 > 300 coins per block
    • 300,001 - 500,000 > 200 coins per block
    • 500,001 - 1,000,000 > 100 coins per block
    • 1,000,001 - 2,000,000 > 50 coins per block
    • 2,000,001 - 3,000,000 > 10 coins per block
    • 3,000,001 + > 1 coin per block
  • 3 transaction confirmations
  • 50 minted block confirmations
  • Total coins will be 322,649,400 coins
  • The minimum payout of each block will be 1 coin
  • Difference retargets each block
  • 1% premine for giveaways, bounties, dev, support, promo etc
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