Re: [ANN] Cinni | PoS | First Coin With Private Encrypted Messaging | No premine
Windows Mac Source
Update: Version 1.1-proper-June 24, 2014. CinniCoin EM Invoicing / Receipting Wallet
Algorithm: Proof of Stake
Total Coins: 15,000,000
Interest: 3.5% Annually
Block Time: 15 Seconds
Fair PoW Distribution
Min stake age: 3 days, Max age: 100 days
Innovative Functions
Anonymous Encrypted Messaging System
EM White-paper: https://dl.dropboxusercontent.com/u/10793660/wp.pdfEM Wallet Demos: https://www.youtube.com/watch?v=FTjp6e7RDZo &
https://www.youtube.com/watch?v=AGpxCcAWz4o&feature=youtu.be
EM Wallet Guide: https://bitcointalk.org/index.php?topic=573232.msg7296927#msg7296927
No premine. No IPO.
Forum
http://cinnicointalk.com/
Media & Publications
- https://twitter.com/CinniTeam
- https://www.facebook.com/pages/CinniCoin/1428189490766652
- http://www.cryptoarticles.com/crypto-news/2014/4/29/cinnicoin-value-soars-multiple-multipools-available
Specifications
- Block time: 15 seconds
- Difficulty retarget: every block
- Nominal stake interest: 3.5% annually
- Min stake age: 3 days, Max age: 100 days
- RPC port: 31812
Proof of work (done)
- Algo: scrypt
- Block reward: 868 Cinni, no halving
- Total coins in pow phase 15 million
- (network does not accept PoW any more)
Bounties
Pools with payouts in Cinni
Things we should do:
- Contact sites to add Cinni
- Contact payment processors about accepting Cinni
- Contact merchants about accepting Cinni on their site
- Promote the adoption of Cinni
Features we should make for Cinni:
- Betting using feeds
- Asset creation and trading
- Hardware wallet
- Contract creation and trading
Please help and share your ideas and things you would like to work on in the development thread
FAQ
- What is PoS?
Proof of Stake. http://en.wikipedia.org/wiki/Proof-of-stake - What sould I do to start PoS mining?
Have your wallet unlocked and online. - How compund interest is calculated?
https://en.wikipedia.org/wiki/Compound_interest#Compound_Interest - I still don't understand PoS interest!
Then think about it as 3.5% per year - What is the number of coins?
15 million in PoW phase. Then 3.5% inflation per year assuming everyone is staking - What is happening when my coins are offline? Am I loosing reward?
You are loosing transaction fees and compound interest. Nominal interest will be paid when you find a block - How can I help?
If you want to help, feel free to send me a message with skills you possess and I would be happy to discuss any opportunity.
Donate
Please consider donating to the Rynomster who works hard to further the capabilites of the EM framework: JLfDTkmERgy1hkEVJxiBskr1h8DwxDbZgc
I would like draw everyone attention to this article, it has some important information and examples of how change addresses work and it is the same for bitcoin, cinni and every other altcoin that exists. Everyone should read it so they can understand better how transactions work.
Important parts to read are "How Bitcoin Transactions Work" and "Preventing and Recovering from Change Address Disasters"
http://bitzuma.com/posts/five-ways-to-lose-money-with-bitcoin-change-addresses/
Important parts to read are "How Bitcoin Transactions Work" and "Preventing and Recovering from Change Address Disasters"
http://bitzuma.com/posts/five-ways-to-lose-money-with-bitcoin-change-addresses/
As I understood OP. Do I have to consider donating to the Rynomster who works hard ??