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Author Topic: [ANN][ICASH] iCash | Anonymous | X11 | Masternodes | Darksend | InstantX  (Read 1007 times)

iCash

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Specifications:
  • Release date: 20:30 UTC 2015-03-19 / No premine or instamine
  • X11 hashing algorithm: 11 rounds of scientific hashing functions (blake, bmw, groestl, jh, keccak, skein, luffa, cubehash, shavite, simd, echo)
  • Block reward is controlled by: 222222222/(((Difficulty+2600)/9)^2), Max: 2662 Min: 1
  • CPU/GPU mining
  • Block generation: 2.5 minutes
  • Difficulty Retargets using Dark Gravity Wave
  • 7% decrease in the number of coins generated per year
  • Est. ~220M Max Coins
  • Decentralized Masternode Network
  • Superior Transaction Anonymity using Darksend

Including:


  • Darksend
A breakdown of the improved Darksend process:



  • Masternodes and the Proof of Service Reward Paradigm
    • In addition to traditional Proof of Work rewards for mining iCash, users are also rewarded for running and maintaining special servers called “Masternodes”.
      Though future plans envision several roles for Masternodes, their primary function is to carry out the anonymization phase of the Darksend protocol.  The service that Masternodes provide to the network is the beating heart of Darksend, which, in turn, is the defining feature of iCash.
      In return for providing this service, with each block mined, one Masternode is randomly selected by the network to receive 20% of the payout from that particular block.
       
      In order to run a Masternode, users must put up 1000 ICASH as something akin to collateral, though unlike traditional collateral, the ICASH never leaves the user’s possession.  It can be moved or spent at any time by the user - doing so simply removes the Masternode from service and makes it ineligible to receive rewards.

  • X11 Chained Hashing Algorithm
    • X11 is a widely used hashing algorithm created by Darkcoin core developer Evan Duffield.  X11’s chained hashing algorithm approach utilizes a sequence of eleven scientific hashing algorithms for the proof-of-work. This is so that the processing distribution is fair and coins will be distributed in much the same way Bitcoins were originally. ASICs will be much more difficult to make for these algorithms and should take years.
      With chained hashing, high end CPUs give an average return similar to that of GPUs. An added benefit of the algorithm is that GPUs require approximately 30% less wattage and run 30-50% cooler than they do with scrypt.

  • Dark Gravity Wave
    • Dark Gravity Wave (DGW) is a widely used mining difficulty adjustment algorithm created by Darkcoin core developer Evan Duffield to address flaws in Kimoto’s Gravity Well.


  • Instant Transaction Technology (aka InstantX)
    • This paper introduces a new concept called transaction locking and masternode consensus. This technology will allow for crypto-currencies such as iCash to compete with nearly instantaneous transaction systems such as credit cards for point-of-sale situations while not relying on a centralized authority. If successful, such an idea could revolutionize cryptocurrency, by shortening the delay in confirmation of transactions from as long as an hour (with Bitcoin) to as little as twenty seconds.

      Full paper can be read at the link below:
      https://www.darkcoin.io/downloads/InstantTX.pdf

Sample icash.conf:
Code: [Select]
rpcuser=rpcuser
rpcpassword=rpcpassword
rpcallowip=127.0.0.1
listen=1
logtimestamps=1
maxconnections=256
addnode=104.238.165.95
addnode=104.207.138.176






  • iCash Logo Contest: iLiZDXqcudGRhSP8tT8xtFvVXbk97UWfGo: 39,310 ICASH: Claimed
    • Tx: 538fb7a27e703c859c079602f9efd8d8233ff203454a45c54a412fd7e37fe209
  • Block explorer with rich list: iRuVtDmgD2jwqtPaJsPjuG3Umr3kWA9Yyj: 25,000 ICASH: Claimed
    • Tx: e7d46300f51ef98a8b26ff6127c29fee3f9e9ec5755bbfda709539f986cb0ec3:
  • Compiling a Mac Qt: iBWDpE1q6LJXEyYGmH9hgbADoqpmAW8srV: 10,000 ICASH
    • Tx:
  • First exchange: i7s5VtWHCBSbYTKdWz57nqkL1mMBp2VCaj: 87,000 ICASH
    • Tx:

« Last Edit: March 26, 2015, 02:15:01 AM by iCash »

 

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