EnCoin Wiki

Introduction

EnCoin is a proposed design for a new cryptocurrency where coins are created based on a consistent cost-to-produce and the network is secured via a system of reputation and consensus.

This wiki assumes the reader is already very familiar with the concept and workings of Bitcoin.

To learn about potential economic results, see Economy.
To learn about comparisons with Bitcoin, see Bitcoin Comparisons.
To learn about potential network attacks, see Attacks.
To learn about how fees and interest work, see Transaction Fees.
To learn about potential additional features, see Additional Features.
To learn about how the network will start, see Boostrapping.
To learn about outstanding issues that must be solved before EnCoin becomes a reality, see Issues.

Maintaining the Value of ENC

ENC is produced when a SupplyNet Group creates a new Mint Block by solving a difficult hashing problem. Creating a new Mint Block becomes harder as the difficulty is increased to compensate for both Moore's Law in amount of processing cycles required and Koomey's Law in the amount of time required.

Securing the Network via Consensus

In lieu of using hashing power to secure the network, the TradeNet creates a Consensus Block about once a day that is based on data in the Transaction Block chain. This consensus comes by agreement of the TradeNet peers; however, all peers are not given equal weight as there is a system of reputation that gives higher credences to TradeNet peers who have shown economic activity as well as dedication to the network.

start.txt · Last modified: 2015/10/15 21:32 (external edit)
 
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