What is Slothcoin?
Slothcoin is a peer-2-peer cryptocurrency created for having fun and in the mean while revolutionizing currencies.
It is based on the idea of dogecoin and combined with some more advanced aspects like the sha3 encryption algorithm, which equals out the difference between nVidia and ATi cards and is more secure than sha256-like encryption algorithms. A total amount of 100,000,000,000 coins will be mined in the creation process, ensuring that there are enough coins for everyone and that Slothcoin will not become a comma-currency like Bitcoin. A small period of 100 blocks is used to let the network build up and prevent instamining. After that, the blockrewards will be 500,000 at the start and halving every 100,000 blocks, after 600,000 blocks there will be no reward left, but transaction fees. A block-time of 60 seconds ensures fast transactions while in the mean time reducing orphan rates that occur with block-times below 60 seconds. Kimoto’s gravity well is implemented to adjust the difficulty every 4 blocks, this will prevent multipools from taking advantage of low difficulty and ensures that the coin does not get stuck in a high difficulty scenario.Release date: March 12th, 2014
- Algorithm: SHA3 keccak
- Block Time: 60 Seconds
- Difficulty Retarget Time: 4 blocks using Kimoto's Gravity Well
- 100 Billion total coins
- Block 1-100: 10,000 Sloth
- Block 100-100,000: 500,000 Sloth
- Block 100,000-200,000: 250,000 Sloth
- Block 200,000-300,000: 125,000 Sloth
- Block 300,000-400,000: 62,500 Sloth
- Block 400,000-500,000: 31,250 Sloth
- Block 500,000-600,000: 15,625 Sloth