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Showing content with the highest reputation on 12/12/2017 in all areas

  1. Ninja

    Determining Factors of MNC

    Mincoin has no premine and the only known amounts are those which have been paid in bounties to users and contributors over time. It is also well-known the team members do actively mine mincoins and are also actively buying them on the Trade Satoshi exchange. I don't know what this is would you kindly be more specific? Probably not. My grandma can barely operate a smart TV and gave up on computers years ago - unless your grandma is more intuitive than mine she will need a lot of help getting into cryptocurrencies. Mincoin is a direct descendant of the original Satoshi client. Anything you can do in Bitcoin or Litecoin's 0.8 branch you can do in Mincoin. Short answer, yes. There are applications which have been built on top of Mincoin, yes. As we continue improving the network protocol by integrating the upstream soft-forks and adopting new features from the state of the art Bitcoin reference client our use cases will also increase. Anyone can do what they want with the Mincoin block chain and the software. It is free an open source. Short answer, yes. Yes, yes, yes and please define "accessible masternode standards" - this sounds like a quite subjective measure. Anything which could have been done with Bitcoin's block chain through the 0.8 branch can be done on the Mincoin block chain without significant effort. Mincoin has 10x the transaction capacity of Bitcoin and 2.5x the transaction capacity of Litecoin. The target spacing (block time) is regulated by our Splash Guard difficulty adjustment algorithm such that on average; every 60 seconds there will be a new block. Bitcoin has 10 minute blocks and Litecoin has 2.5 minute blocks. Mincoin is more reactive in terms of block times due to improvements over the original Satoshi difficulty adjustment algorithm. A little known fact is that miners can include transactions with high fees or no fees at all. The default fee schedule built into the client is so low you would barely notice it. At launch the fees were defaulted to 0.1 MNC but they have been dramatically reduced to 0.00005 MNC to encourage micro-payments using mincoins. Depends on whether you own zero mincoins or if you own a boat load of mincoins. It also depends on how successful our future integration with merchants, vendors and the greater marketplace become over time. It would be speculative to answer this definitively since nothing has been coded into network protocol. I have heard rumors that 50K MNC / 100K MNC / 250K MNC are favorable to Mincoin promoters. The percentage of the block reward which would go to masternodes is also unspecified at this point. Promoters have suggested both 30% and 50%. Somewhere down the road, the community must establish consensus on the collateral required to operate a Mincoin masternode as well as what the reward amount should be.
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