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Silkcoin

Algorithm:

What is Silkcoin?

Silkcoin is pure Proof of Stake coin, except in the 2 stages of initial distribution where POS and POW are mixed.

There will be 3 phases of distribution, a week (10 000 blocks) of POW/POS followed by a full month of pure POS; Then when Silkcoin gained some popularity a last phase of POW/POS similar to the first one will happen, helping distributing silkcoins to the maximum number of people before full POS stage. The fixed interest rate is 2% and coin start earning coin-age after 12 hours.

Release date: May 7th, 2014

Specifications

  • Block time: 1 minute
  • Maximum POW supply: 100 million
  • Difficulty retarget: every block
  • Stake interest: 2% annually
  • Min transaction fee: 0.0001 SC
  • Fees are paid to miners
  • Confirmations: 10, maturity: 350
  • Minimum stake age: 12 hours - No max age
  • P2P port: 16666, RPC port: 16667
  • Block reward: 5000 SC, no halving
  • First stage POS-POW : block 1 to 10 000 (~7 days & ~50 million coins)
  • Second stage Full POS : block 10 000 to 50 000 (~30 days)
  • Third stage POS-POW : block 50 000 to 60 000 (~7 days & ~50 million coins)
  • Last stage - Full POS at 2% per year and 12 hours maturity
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