What is Onecoin?
Onecoin is cryptocurrency drastically different to any of existing ones. While some altcoins aim for the title of the most expensive coin and a base for long-time investments, their value is still comparable to that of Bitcoin. I decided to go further and bring this idea to its logical conclusion. With Onecoin, there will never ever be more than a single coin mined. Apart from exceptional value of the coin, there is one more advantage – the number you see in your wallet means the share of total wealth you own.
Release date: May 9th, 2013
- Maximal money amount is one coin (actually 0.999999999987 because of rounding).
- Scrypt-jane implementation from Yacoin. Currently only CPU mining is possible.
- 2 minutes block target.
- Difficulty retargets each block (PPCoin's implementation).
- Maximal block reward: 500 nano-OTC.
- The first 1000 blocks will have no reward, then the reward will gradually grow up every 500 blocks to 500 nano-OTC during first 25500 blocks, and after that default rules will apply. This will ensure that the launch is fair. No premine!
- TX fee: 10 pico-OTC.
- Subsidy is cut in half every 1000000 blocks, which will occur approximately every 3.8 years.
- Decimal precision is changed from 8 digits to 18.
- Additional display units added to the QT client to make amounts more readable: nOTC, pOTC, fOTC, aOTC.
- Default port: 8555 (18555 for testnet).
- Default RPC port: 8554 (18554 for testnet).
- Onecoin is based on the latest Bitcoin sources and will follow Bitcoin updates closely.