Mint is a fast growing and extending plant.
Minting is the process of earning interests by holding coins.
MintCoin is a green, energy saving coin with a fast distribution.
Thursday, February the 6th 2014 at 7PM GMT
MintCoin is an innovative, secure and energy efficient PoW/PoS coin. It uses a faster PoW distribution mechanism to distribute the initial coins, then after 5 weeks the coin is basically transferred to a pure PoS coin, where the generation of the coin is mainly through the PoS interests.
MintCoin also adopt a variable PoS rate, which gives the highest payout at 20% the first year, then decrease 5% per year until the 4th year it reaches annual interest rate of 5%, then it will remain at this rate.
Because after 5 weeks it is basically a pure PoS coin, it does not need to be intensively mined, as the PoW payout will remain the minimum. Most coins will be generated through PoS, thus it is a coin that will save a lot of energy compared to other coins.
MintCoin will have a total of 70 billion coins. Initially each block will deliver 100000 to 900000 coins randomly. The PoW payout will be halved each week (7 days). After 5 weeks, the PoW payout will be fixed at 1 coin per block.
PoS will start after at least 20 days of holding of the coins in the wallet. With PoS, the coin is more resilient to 51% attack.
As a miner, you will be extremely rewarded to be an early adopter of MintCoin.
As an investor, you will be glad to know that holding your coins in the long term will result in tremendous rewards as well.
MintCoin is also designed to be widely spread amonst population all over the World, and so is available in a large quantity.
- 30 seconds block target
- 100000 - 900000 coins per block initially
- PoW payout will be halved every week for the first 5 weeks
- After 5 weeks, the PoW payout will be fixed at 1 coin per block
- Difficulty retargets every block
- PoS variable interests:
- 1st year: 20%
- 2nd year: 15%
- 3rd year: 10%
- 4th and subsequent years: 5%
- Total coins will be 70 billions
- 4 confirmations for transaction, thus fast 2 mins confirmation for transactions
- 50 confirmations for minted blocks
- 1% premine for bounties, giveaways, development, support and maintenance, new feature developments etc.
- Ports: 12788 (connection) and 12789 (RPC)
mintcoin.biz is hosted on a green server powered by wind energy
MINT can be freely traded on the following markets:
1.What is PoS?
PoS: Proof of Stake.
2. What is the line Stake in wallet?
It is for the PoS blocks. Once a PoS block generated, some of your coins plus the generated interests will be moved to "stake", it is like "immature" for PoW. It will take 50 confirmations to mature, after mature the coins plus interests will be added back to your balance.
3. What does that mean in the wallet : Minting suspended due to locked wallet?
This says you can not do mining due to wallet encrypted.
you need to unlock the wallet in order to mine (for example for PoS blocks):
mintcoind walletpassphrase <passphrase> <unlock_duration_in_seconds> true
4. Do I have to let my wallet open to get PoS coins?
PoS will be generated after at least 20 days holding of the coins in your wallet. You don't need to keep the wallet open all the time. The coin-days accumulated in your wallet will not be lost. The next time when you open the wallet client, the internal miner will start automatically and if the coin holding period meet certain requirements the pos blocks will be generated based on the coin-days in your wallet.
5. How often do I have to open the wallet in order to get PoS coins?
See above. You don't need to open wallet all the time, your coin-days accumulated in the wallet will not be lost.
6. Why I can't sync?
Use addnode in the conf file. The addnode list and sample conf file are posted above.
If you use Windows, the Mintcoin config dir is usually at c:/users/*yourcomputername*/AppData/Roaming/MintCoin, in which you should see your wallet.dat and peers.dat files. If the mintcoin.conf file is not there, create it using the above example (you don't need to include all the addnode lines, include some will be ok). Restart your client, you should be in sync within a few minutes.
7. You said 20% interest per year, do I have to wait 1 year to get the PoS interest?
No. PoS blocks will be generated after you hold some coins in your wallet for certain period of time. For MintCoin the minimum requirement is 20 days. If you move around the coins (for example send to other wallet and then send back), the time will reset for those moved.
8. The PoS generated coins, are they eligible for new PoS block generations?
Yes. After maturity (50 confirmations), the coins will move from "Stake" to "Balance". Once the PoS generated coins in "balance", they will be the same as all other coins, and are eligible for future PoS generations.
9. What will be generated total PoW coin number and what will be generated PoS coin number?
After 5 weeks PoW mining, there will be 20 billion PoW coins generation. Afterwards there will be some small number of PoW coins continue to be generated (at 1 coin/block). The PoS generation 1st year is 20%, 2nd year 15%, thrid year 10%, and subsequent years will be 5%. If maximum PoS generated (meaning all coins mined held), then after about 20 years there will be about total 70 billion coins generated in total (for both PoW and PoS), which is the max money allowed. In normal situation where there are coins transferred around, the time max money will be reached will be 30-40 years or more.