I am releasing a new coin which aims to be ASIC, GPU and NiceHash resistant. The nodes are up and i would like people to direct just a little hash towards it to test if the theory works
Discord:
https://discord.gg/jsdbEnsSource:
http://bitbucket.org/nerva-project/nervaBlock Explorer:
http://explorer.getnerva.orgTrading on Altex:
https://altex.exchange/markets&pair=BTC_XNV This is very early days. The blockchain went live 5 minutes ago and a few people invited to the discord have just started mining it with single CPU cores.
This post will be updated with more info very shortly. There is much to write, but i want to get the word out as fast as possible
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Technical details
Name: NERVA
Ticker: XNV
Total Supply: 18 million + tail emission
Block Reward: 70
Block Time: 60 seconds
Maturity: 10 blocks
Algorithm: Cryptonight Adaptive
Premine: 1% (180,000 XNV)
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Cryptonight Adaptive algorithm
The algorithm is the most important part of this coin. For too long cryptocurrencies have been plagued by ASIC's centralizing hash power, NiceHash being used as a tool to attack blockchains and centralized hash rates on major pools forking chains and placing coins into the hands of big mining operations. NERVA aims to rectify this.
The idea is quite simple. Create a hash algorithm that changes automatically at regular intervals each time breaking support in ASICS, mining pools and GPU mining software. Where the only option left is solo mining with a daemon and wallet. The first release is based on the Monero v7 algorithm present in the latest Masari hard fork with a few differences. Firstly, the scratchpad has been halved, like Cryptonight lite. Secondly we adapted the ASIC resistant changes from Alloy (XAO) which changes the number of mixing functions at each hard fork to instead change every block. The number of mixing functions is automatically incremented every block and reset every 1024 blocks
This first implementation, while crude should make it difficult to adapt GPU miner and pool code to this algorithm. My ultimate aim is to further the development of crypto in the true spirit of crypto. Decentralized and easily accessible to everyone
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Premine
A 1% premine was included in the genesis block (180,000 coins). Additionally each of the 3 seed nodes in place is currently mining with 1 CPU core. This is a temporary measure to establish the network and will be stopped when independent miners start contributing to the network. At the time of writing the dev account contains 187,663 coins.
The only plan for these funds is to secure exchange listing and ongoing server costs running the seed nodes. Any left over funds will be redistributed to the community.
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Goals
In the near term, there are 2 major works to be completed. Firstly a block explorer needs to be implemented. This way i can provide some transparency to the dev account and where the funds are going
Secondly a Windows CLI wallet and GUI wallet for Linux and Windows. I do not have access to Windows so am unable to build a wallet at the moment. Perhaps there is potential for a bounty on this issue
In the mid to long term exchange listing becomes a priority as well as the flashy website and marketing that most coins these days like to lead with.
It has to be very strongly stated though that the main focus is on the coins code development. Exchange listing comes second to reward miners for supporting the coin.
So feel free to drop into the discord and have a chat
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Mining
First you need to download and build the source code. Binaries exist for Ubuntu 16.04, Wijndows are on the way as soon as i get myself in front of a windows computer, which i don't have
Then use nerva-wallet-cli to create a wallet. Just follow the prompts.
Then use nervad --start-mining to start mining