Re: [ANN][GAP] Gapcoin - Prime Gap Search - New Math Algo - CPU / GPU - Zero Premine
⭐ Merited by wizz13150 (1)
Incidentally, if Gapcoin ever achieved ASIC' level. The Coin supply would RAPIDLY RISE with the difficulty Rise.
From the website and announcement
Quote
* Block reward proportional to the current difficulty
* Block reward halving every 420000 (about 2 years)
* Cap: about 10 - 30 million GAP
* Difficulty adjusts every block and increases logarithmically (it will probably take years to get to 50)
Fair launch:
* Gapcoin was not designed to enrich the early adopters or the coin creators! Unlike Primecoin, the more people mine Gapcoin, the more coins per block will be produced. (Coin supply will increase logarithmically with the difficulty, this means it will grow in the beginning, but later, it won't change much.)
Now there are ~ 16 million.
It isnt clear to me exactly how production increases. j0nn9 was doing what all devs, including Satoshi Nakamoto did. He was pretending the coin was not issued to favor early adopters. ...snip...
Big difference between "production increase" vs noninflationary 'growth' overtime ...
Remember: The Gapcoin mining reward is the block reward plus the prime gap (network difficulty) and fees.
Simply view any Gapcoin blocks raw data on the block explorer ...
This 'feature' is incentive to mine (value) and to discover bigger prime gaps.
Hence,
* Cap: about 10 - 30 million GAP
* Difficulty adjusts every block and increases logarithmically (it will probably take years to get to 50)
The total number of Gapcoin produced depends on the network mining difficulty.
One day the prime gap merit reward per block will outweigh the block reward, it already outweighs the current transaction fees.
Gapcoin is quite literally Bitcoin code plus the mathematical laws of nature.
PoW at its finest. The economic model is genius.