Post
Topic
Board Announcements (Altcoins)
Re: [Download New Wallets] Clean Water Coin | $2,000 Donated to Charity: Water
by
YouIsPeng
on 25/07/2014, 00:46:13 UTC
first of all, let me apologize for the long time of no posting in here.

I was hospitalized (heat + exhaustion + old age can do that to me from what it seems) and this turned my schedule upside down.

Regarding the new wallet. I don't know how many of you will take it, but we don't have the required hashrate to protect the blockchain from attacks.
Even with exchange's wallet frozen, someone attacked again (the huge spike in network hashrate shows that).
The problem is that although there is interest to mine for good cause, it looks like there's more interest to abuse those who are interested and try to double spend coins to literaly "steal" from exchanges or whoever is trading with CleanWater.
So, we decided that the best solution is to turn it into pure PoS and very close after that, setup a multi-pool where you will be able to mine with whatever algorithm you choose to (sha256, scrypt, x11, x13, scrypt-n, scrypt-jane) for coins and exchange them to buy cleanwatercoins which will be used as payment for your mining work.

By tomorrow we'll have a new wallet and the plan is to stop PoW at block height 112000 and accept only PoS blocks after that.

I'll keep you updated

Forgive me if this a stupid question, but I don't have much experience with PoS coins. I have been thinking about the total coin supply, which is stated as being capped at a maximum of 1,000,000,000 - how does this work when the coins are earning interest and minting new coins? Does the minting cease when the total coin supply has been reached or will the total coin circulation continue to increase forever?