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TagCoin

Algorithm:

What is TagCoin?

TagCoin will be the primary currency used within Tagbond and TagCash. Developers designed TagCoin with the following objectives in mind:

Fairness – Difficulty will start out at a reasonable value so no one can get an unfair advantage
Sustainability – Parameters have been chosen such that TagCoin can survive well into the future
Services – Tagbond and TagCash are just the start of the ecosystem that will we be building around TagCoin
Transparency – Open Conversation and discussion with the founders and staff within Tagbond

A little bit about the parameters we’ve chosen. 4 minutes between blocks is a happy medium between speed and sustainability. Faster coins will run into many problems down the line, the least of which is blockchain bloat. As we intend to support TagCoin for many years to come, these are big issues.

Subsidy reduction has been rethought. Halving every X amount of blocks, like Bitcoin, is very unnatural and “shocks” the market every halving. Accordingly, we’ve decided to introduce a more natural reduction formula for Tagcoin. The subsidy will reduce by 1% every 3 months for the life of the coin. Additionally, there is a minimum block reward of 3 set in place, as to always encourage mining. Sustaining mining solely on fees is problematic; Bitcoin will have to deal with this somewhere down the line, but Tagcoin will not. Less than 100 million coins will be generated in the first 30 years before this minimum block reward has been reached.

Twelve retargets per day with a maximum swing in either direction of 25% will ensure that difficulty never stalls due to multipool influence. Many coins have had to issue a hardfork for this, so we’ll just address it right out of the gates.

Approximately 300 blocks have been premined for the purposes of giveaway and promotion through Tagbond, and TagCash, and this forum.

Starting difficulty of 0.5 was chosen to ensure a fair launch with no instamine.

Release date: October 24th, 2013

Specifications

  • Starting difficulty: 0.5
  • Pow/PoS hybrid (1.5% yearly interest, PoS blocks generated after 30 days of coin age)
  • Coins per block: 30
  • PoW Subsidy reduction: 1% every 3 months, minimum reward of 3 coins
  • Time between blocks: 4 minutes
  • Retarget: Every 2 hours, with a 25% limit in either direction
  • Network Port: 8623
  • RPC Port: 9624
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