- Launched September 8th, 2013
- NO PREMINE
- Litecoin/PeerCoin Hybrid
- POW/POS Hybrid
- One of the simplest, best rewarding STAKE mechanisms implemented (PIR + OWI)
- Default Ports: connection 11310, rpc 11311
PROOF OF WORK SPECS
- 120 second block time
- Scrypt Algorithm
- 320 POW coins per block
- Halving occurs every 129600 blocks
- 8X reward (random super blocks/hr)
- Difficulty retargets on every block
PROOF OF STAKE SPECS
- 120 Second block time
- 1 hr minimum age for staking
- 30 days maximum age
- 6 confirmations for transactions
HOW NETCOINS' STAKING / INTEREST REWARDS WORK
1) Obtain Netcoin (NET)
2) Deposit Netcoin (NET) into your own personal wallet
3) Open it at least monthly, unlock, connect to the network, and get your stake reward.
It's that simple. No magical block sizes. No crazy set ups. Just deposit, stake, and earn.
If you'd like to read more about the process:PIR (Personal Investment Rate)OWI (Open Wallet Incentive)
NETCOIN & FOUNDATION STRUCTURE
The way NETCOIN & the NETCOIN Foundation is structuring itself and the coin is designed to help develop and advance the coin, projects, and community effectively while still borrowing the beneficial team grouping concept and delegation of accepted responsibilities. No member in the team is higher ranked than others it’s just we all choose to “accept” a set of duties to further the technology and product that is netcoin.
Core Engineers (Direction & Reporting, Moral Support, and Relationship Ambassadors)
This team is made up of Main Core Engineer and consists of other core engineers communicating and planning with the the other Engineering Teams that choose to be involved.
Software Engineers (aka the bits and bites, the brawn, and the guts of the team)
This team is made up of a primary lead Software Engineer and a number of developers, handling coin code, wallets, daemon core, and any other API's.
Systems Engineers (web development, security)
This team maintains the websites for the netcoinfoundation and the main netcoin site. They look after security, keeping the site fresh and making alterations as needed. Some of these developers may also be involved in web projects that work with netcoin. The will work in hand with the Network teams research to keep the site current.
Network Engineers (Making us look good)
This team will handle anything and everything for getting netcoins' name out and about. These engineers organize interviews, news, events, conferences, etc and arrange to have the appropriate members on hand for promotion.
Foundation Team (The Watchmen)
This team is made up of supporting members from the team and possibly public. The netcoin foundation watches over projects from the community and the coin for ethical action and good representation.
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