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SKN

Skeincoin

Algorithm:

What is Skeincoin?

Skeincoin uses a new Proof of Work (POW) algorithm that is energy efficient and secure. The first round of hashing is done using Skein, the second using SHA256 (Skein-SHA2). Initially Skeincoin will only be minable using the wallet/daemon using a CPU. The algorithm is very suited to be implemented for optimised CPU, GPU, FGPA and ASIC.

Release date: November 4th, 2013

Specifications

  • POW Hash: Skein-SHA2
  • Block target: 2 minutes
  • Block reward: 32 SKN, halving every year (262,800 blocks)
  • No premine.
  • The first 100 blocks will return a reward of 0.0001 allow miners to setup and difficulty to adjust.
  • Total coins: Around 17 million
  • Default RPC Port: 21230
  • P2P Port: 11230
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