GiveCoin 2.0 was created to preserve the charitable essence of its predecessor, Givecoin (GIVE), while dramatically shifting the reward mechanism to one of a shared interest or “stakeholder” model.
The chain supports Proof of Stake (POS) that rewards stakeholders by permitting them to claim a nominal interest rate for securing the network through their staking transactions, while establishing a minimal 1% transaction fee designed to stimulate mining and production of Proof of Work (POW) blocks.
GiveCoin 2.0 is running on completely different code algorithms borrowed from Clean Water Coin (WATER) which is based on a version of the Peercoin (PPC) wallet and uses the Scrypt mining method.
The original Bitcoin design required ~120 block depth on generated coins to cover potential ORPHAN blocks that can occur when another node generates a block with more transactions or at a higher difficulty since the blockchain favors the longer length and values the higher difficulty.
Since the normal confirmation window in Bitcoin is six block depth, it doesn’t make sense to make a POS tx wait any longer. GiveCoin 2.0 reduced schedules to 10 confirmations.
GiveCoin 2.0 was created to preserve the charitable essence of its predecessor, Givecoin (GIVE), while dramatically shifting the reward mechanism to one of a shared interest or “stakeholder” model.
The chain supports Proof of Stake (POS) that rewards stakeholders by permitting them to claim a nominal interest rate for securing the network through their staking transactions, while establishing a minimal 1% transaction fee designed to stimulate mining and production of Proof of Work (POW) blocks.
GiveCoin 2.0 is running on completely different code algorithms borrowed from Clean Water Coin (WATER) which is based on a version of the Peercoin (PPC) wallet and uses the Scrypt mining method.
The original Bitcoin design required ~120 block depth on generated coins to cover potential ORPHAN blocks that can occur when another node generates a block with more transactions or at a higher difficulty since the blockchain favors the longer length and values the higher difficulty.
Since the normal confirmation window in Bitcoin is six block depth, it doesn’t make sense to make a POS tx wait any longer. GiveCoin 2.0 reduced schedules to 10 confirmations.
No news so far.