Proof of Work The Proof of Work is a modified Momentum based algorithm. It has a small SHA512 component, and a large AES component - chips with AES-NI instruction sets will fare *much* better. Each hash requires 1GB of Memory to perform and encrypts 50GB of data. By contrast, the verification only requires 128K and less than one 10th of a second.
Parameters POW Hash: Momentum (64K XOR AES-CBC x 50) with SHA512 Generation Block target: 6 minutes Port: 1968 Codebase: ProtoShares 0.8.6 (Bitcoin 0.8.5) Block reward: 280 MMC, 5% reduction every 1680 blocks Total Coins: 10 Million coins in the first 2 years, 2% inflation thereafter Difficulty Retargeting: Every block with the Kimoto 'Gravity Well'
MemoryCoin Beta ~6.2% Balances from the MemoryCoin Beta as at block 8820 were transferred into the new blockchain at Block 1. You can import your MemoryCoin Beta balance by copying your wallet into place after installing the new MemoryCoin QT client.
Premine ~1.12% ProtoShares Holders ProtoShares owners as at Block 32000 received a distribution at a rate of 1 MMC for each 10PTS. With around 1 Million PTS issued, about 112,000MMC were distributed in this way and PTS owners will cumulatively have a 1% stake in MemoryCoin at launch. You can import your balance by using your ProtoShares wallet with MemoryCoin. It is recommend that you transfer your balance to a fresh MemoryCoin wallet after import.