What is ECCoin?
ECCoin is an energy saving coin generating most of its coins through PoS blocks. It distributes its initial coins through 45 days evenly distributed PoW mining, no halves during the initial distribution phase, thus ensures a fair distribution. After initial distribution, the PoW block will be stopped. The coin generation will be done entirely through the PoS generations.
ECCoin also adopts a variable PoS rate with the following annual interest rate:
– Year 1: 25%
– Year 2: 15%
– Year 3-9: 10%
– Starting Year 10, it will have an annual PoS interest of 1%
After this 9 Year schedule , the coin generation will be reduced to the baseline inflation of 1%, and the existing coins will be used for circulation.Release date: March 6th, 2014
- ~18 Billion is the total of coins in the POW stage.. 50 Billion coins after 10 years
- Scrypt, PoW then PoS
- 45 sec block target
- difficulty retarget each block
- 4 confirmations for a transacaction
- 50 confirmations for PoS blocks to mature
- Low transaction fees