- Blockchain-based hash: unlike Bytecoin PoW hash, which works on 2MB scratchpad and takes avr 400 ms, new hash will work on blockchain random data to provide operation speed. We will use the same data primitives that are used when checking transactions in the block, to make it not slower compared to checking every transaction in the block.
This defeats the very purpose of CryptoNight. 2 MB is suitable for CPU L3 cache but too much for ASICs, making distribution more even because of accessibility. 400 ms is not a big deal since transaction speed is limited by the block time.
- Donation-based crowdfunding: the project will not have premine, instamine or other unfair launch. The project has open and transparent model of project financing: part of the emission (10%) is reserved for the development of the project, BUT the rate of emission of these coins will be controled by network participants (miners). Namely, miners will indicate the amount of coins to be given to developers in each block that they found. Maximum donation size for each block is determined by nominal donations formula, based on entire emission formula. This policy allows better communication between community and project development team. Finally if a miner is not happy - he can reduce donation to zero.
As a tribute to technology, we have fixed royalty percentage of donation, charged to the founders of Cryptonote.
I don't understand. You've given a number (10%) but also said it can be changed by miners. Is 10% the default that miners must deliberately change?
Good luck with this fork and thanks for supporting merge-mining. I hope to see more CN coins.[/list]