What is Zeitcoin?
Zeitcoin is a Scrypt PoS/PoW hybrid coin with one of the strongest communities behind it. A majority of the coin supply will be distributed by “minting” which allows anyone with coins in their wallet to receive up to 25% interest on their coins. All you have to do to receive interest on your coins every month is have some in your wallet. For traditional miners, the PoW block reward will be halving once a week, every week until the payout is fixed at 1 coin per block. Therefore every week that passes, it becomes harder and harder to mine Zeitcoin.Release date: March 1st, 2014
- 30 seconds block target
- 250000 - 1000000 coins per block initially
- Payout will be halved every week for the first 6 weeks
- After 6 weeks, the payout will be fixed at 1 coin per block
- Difficulty retargets every block (Avoids the need for KGW)
- Total coins 99 billion
- Interest on Proof of Stake:
- Year 1: 25% | Year 2: 20% | Year 3: 15% | Year 4 and ongoing: 5%
- 4 confirmations per transaction means fast 2 mins confirmations
- 50 confirmations per ZEIT blocks
- 1% premine for ongoing development support, maintenance and distribution to community.