RCoin
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After the previous failure that was RCoin-v1, I have rewritten the code. Now we do not have any of the previous bugs.
We do not need transactions in order to mine.
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RCoin is a decentralized peer-to-peer currency building upon the ideas of Bitcoin. In comparison with other cryptocurrencies, RCoin does not eliminate transaction fees, nor keep them at ridiculously high rates even for small transactions. Transaction fees are determined as a fixed 1.5% of a transactions amount. RCoin is designed to be ASIC resistant by requiring relatively large amounts of memory per hash (6-12MB).
Latest Version
The current version is RCoinPlus-v1
Information
* RCoin uses the Scrypt hashing algorithm.
* RCoin DOES NOT USE A BLOCKCHAIN, but simply keeps track of every transaction (this means no transaction fees, and near instant transactions)
* You can mine a block every 5 minutes.
* Solo-mining is feasible.
* No more coins after 7 years. (You will earn negative coins if you try to mine after then.)
* Estimated total supply: 25540000 RCN.
http://tinyrcoin.github.ioMy address: ivabm6gktvhygk4ztz2ijittk5jv4jg4hizqnirqqkyfzt2axzda
1 block per exactly 5 minutes does not look like mining to me. Just look like a scam where after every 5 minute some coins are made to be displayed on wallet. I even tried sending it to a different wallet transaction was never completed. When you search for transaction using the address, it only displays transactions done on that wallet. You can also type address whatever you wish like it does not even check for minimum or max characters required for address length. Any explanation dev?