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Timekoin

TK

Timekoin

Algorithm:

What is Timekoin?

Timekoin is a long tested set of protocol rules and software implementation for an open encrypted electronic currency system on a public network. To date, there has been No hack or Exploit of the Timekoin concept and network implementation for open p2p digital currency. Timekoin is not a clone of other existing digital currency systems (such as Bitcoin, Litecoin, etc). Timekoin is a very different and unique way to secure transactions and create currency. Timekoin uses 1536 bit RSA encryption and SHA hashing to secure transactions. Transactions work like clockwork, being processed every 5 minutes. Transaction processing is not dependent on Currency creation and this makes it unique among other popular digital currencies. This separation of the two systems allows each to function independently of the other. The design of Timekoin allows it to function on computer systems or devices (such as the Raspberry Pi) with minimal effort needed to maintaining security and speed.

Release date: May 27th, 2011

Specifications

  • Direct person-to-person purchasing
  • Universal payments
  • No processing fees
  • No central or controlling authority creates currency
  • No other digital currency is truly decentralized like it
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