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Mincoin Block Confirmations

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Just a quick question. 

 

How many confirmations does it take for a block to become valid and payout? It seems to be different amounts?

 

Thanks

 

- David

I think it's 6 confirmations.  You can check your wallet on the "transactions" tab/page.  There's an icon to the left of the transaction line that shows the current state of the transaction.  Hover your mouse over that icon and it shows the current status -- "3 of 6 confirmations" or whatever the wording is.

 

When it's fully confirmed, you'll see a green check mark icon.

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I think that differs from finding a block.

For BTC, LTC & FTC it is 120 confirmations required. It seems to be a lot less for MNC but I can't find any info on the exact number.

 

- David

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I think that differs from finding a block.

For BTC, LTC & FTC it is 120 confirmations required. It seems to be a lot less for MNC but I can't find any info on the exact number.

 

- David

 

MinCoin (MNC) - a minimalist version of Bitcoin optimized for CPU mining using scrypt as a proof of work scheme. MinCoin is bronze to Bitcoin gold

  • Only 10 million coins total will be generated
  • 1 minute block targets for ultra fast transactions
  • To encourage early adoption block values for first 3 days are :- 500 MNC, 100 MNC, 50 MNC
  • After first 3 days block value will be 2 MNC per block until all coins mined which will take roughly 10 years

The rest is the same as bitcoin.

  • 720 blocks to retarget difficulty (half a day)

 

 

 

I assume that Sandy Cohen didn't touch it. I wish I knew someone familiar with bitcoin code that could point you in the direction of where these specifications are stored. If you have skype, I would be happy to put you in contact with someone who might know

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I think that differs from finding a block.

For BTC, LTC & FTC it is 120 confirmations required. It seems to be a lot less for MNC but I can't find any info on the exact number.

It's not very many confirmations. I've mined a lot of these puppies and it doesn't take very long to show up in the wallet... I don't remember the specific number though. It sure seems like no more than 6 though.

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  • 720 blocks to retarget difficulty (half a day)

Actually, in late May, the big update at 75k blocks changed this diff re-target to just 60 blocks.  This has had a fantastic effect on hashrate/difficulty stability on the network.  Worked like a charm.

 

If 720 retarget is still posted in details somewhere, that needs to be changed. 

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I assume that Sandy Cohen didn't touch it. I wish I knew someone familiar with bitcoin code that could point you in the direction of where these specifications are stored. If you have skype, I would be happy to put you in contact with someone who might know

 

 

Will the real Sandy Cohen please stand up, I want to congratulate you on a great coin.

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are there many solo miners on mnc ?

Not so many these days, I think. I used to solo it a lot and knew a couple others.  Lately the diffs are typically over 4-6 all the time, creeping into the 8's & 9's.  It's making soloing a bit rough, especially for only 2 coin block reward.  

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