Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Woodcoin [LOG] Pure Skein, Logarithmic Release, X9_62_prime256v1
by
funkenstein
on 26/10/2014, 20:12:24 UTC
I still dont understand how this coin works. HOw does the mining work and what is the total supply? I see 1m and 5m logs created so which one is it

This is a pure proof of work coin which is now a fork of Litecoin.  The chopping algo is double skein. 
Chopping rewards increase the logpile logarithmically.  We sum the harmonic series with every swing of the axe.  

Here's a plot of the money supply for the first 5000 blocks.  We are currently at block 3633.  



And here's a plot of the money supply for the first 50000 blocks.  




Lots and lots of logs of logs.  
Here's one more with the total woodpile for the first 1000000 blocks.