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SPC

SpeedCoin

Algorithm:

What is SpeedCoin?

SpeedCoin brings all the benefits of Bitcoin but also adds extra benefits such as a network which performs up to 17 times faster than Bitcoin, giving faster transaction and confirmation times which is crucial for businesses and users for speedy payment processing.

SpeedCoin uses a 35 second block time with block adjustments every 140 seconds, ensuring a higher speed of confirmations and quicker transactions. In short, our network is quicker than Bitcoin.

SpeedCoin also contains a server side interest payment system which pays you interest on your balance without you needing to keep your SpeedCoin wallet software open. We provide the first crypto-currency that includes a savings account element, no need to mine for your savings, simply deposit SpeedCoin in to any address or mine your SpeedCoin and automatically gain interest payments direct to your wallet address which contains a balance every 24 hours.

You will paid interest at 0.137% daily (64% yearly) on all addresses with a balance, regardless of the amount held in any SpeedCoin address. There are no sign up forms, no fees, no hassle and is completely anonymous. Just simplicity.

Release date: April 14th, 2014

Specifications

  • 35 second block time
  • 140 second difficulty retarget time
  • block halving will occur at every 500,000 blocks
  • current block reward is 1 SpeedCoin per block.
  • 21 million coins will ever be mined
  • 20 million have been pre-mined for interest payment purposes
  • 1 million coins remain to be mined by the public
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