What is Execoin?
Execoin is a new cryptocurrency featuring progressive ASIC and multi-pool resistance as a major difference compared to other coins. These innovations make Execoin stable, rare and security-oriented coin even with the further development of newer generation of ASIC miners designed for scrypt algorithm. It is obvious that custom mining hardware (ASIC miners) is a major concern for decentralized structure of any cryptocoin network and for stability of coin market value. Scrypt algorithm has been implemented in Litecoin to make use of first ASICs financially unfeasible by utilizing larger amounts of memory for hash computation and it worked fine for some time. However now we’re expecting newer generations of ASICs specially designed for scrypt algorithm and these miners can severely corrupt distributed structure of network and negatively impact market value of scrypt-based currencies.
Execoin represents a new generation of crypto currencies that put independence from ASIC miners as a priority. Its progressive-N algorithm increases memory usage with time in a progressive manner to be ahead of newer ASIC models in the future. Multipools also negatively impact both security of the network and coins’ market value by concentrating mining power and dumping large amounts of coins to the exchanges. Custom miner software that already has been created for Execoin cannot be used in multipools and, on the other hand, standard mining software suitable for multipool use cannot be utilized to mine Execoin.Release date: March 13th, 2014
- Algorithm: Scrypt-Progressive-N with optimized schedule (scientific name: scrypt Salsa20/8(N, 1, 1), PBKDF2(SHA2))
- Max Coins: 84 million
- Block time: 45 seconds
- Subsidy: halves every 840,000 blocks (~437 days)
- Difficulty Re-Target Time: Every 1920 blocks (~24 hours)
- Block Rewards: 50 coins per block
- Premine: Absolutely no premine!