Re: [ANN] Corecoin (COR) | Fresh | Blockchain 2.0 Project
I can't wait to double spend this one.
Code:
int64 static GetBlockValue(int nHeight, int64 nFees)
{
int64 nSubsidy = 500 * COIN;
if(nHeight == 1)
{
nSubsidy = 9333333 * COIN;
}
// Subsidy is cut in half every 4000 blocks
nSubsidy >>= (nHeight / 4000);
return nSubsidy + nFees;
}
{
int64 nSubsidy = 500 * COIN;
if(nHeight == 1)
{
nSubsidy = 9333333 * COIN;
}
// Subsidy is cut in half every 4000 blocks
nSubsidy >>= (nHeight / 4000);
return nSubsidy + nFees;
}
When nHeight hits 52,000 then nSubsidy is 0 and the network is running on fees. No one will mine it and you can do what you want with a few MHs.
In fact, at about 7/block the reward won't be enough to secure the network in two weeks.
There is a reason all the big PoW only coins have a very long halving.
Prediction if the dev doesn't put in PoS or change the schedule: coin dead in 3 weeks.
Good luck.
could you explain this a little bit more for not so experienced altcoin fans?
I did my math wrong, but the issue is the same. This coin is in danger of a 51% attack after about 2 months (not 3 weeks like I mistakenly said). Halving takes about 11 days. 5 halvings is about 2 months. At that time the reward will be 15. By then hashes will have dropped to near non-existence and the difficulty will plummet. Then someone only needs a few MHs to drive the chain for enough confirms to double spend.
If the coin is very valuable, this is a big danger. It's happened before.