>> (p.1)
    Author Topic: [ ANN ] SAT² - A new dawn - PoS - No Premine  (Read 133235 times)
    This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.
    Saturncoins (OP)
    Full Member
    ***
    Offline Offline

    Activity: 131
    Merit: 100


    View Profile
    April 03, 2014, 09:37:26 PM
    Last edit: July 07, 2014, 08:39:54 AM by Saturncoins
     #1



    Wallets:

    Nodes:
    Code:
    addnode=213.179.202.20
    addnode=213.179.202.21

    Miningpools:

    Exchanges:

    Links:



    Today we finally get to publish what we have been working on over the past month. We are very excited to tell you about the future of Saturncoin and how we have managed to create a new solid foundation which warrants a stable future with ongoing development and innovation.

    In the meantime, you can read our detailed plan here.

    Today we are also launching the new website for Saturn²Coin:  Saturn2.CO.IN. New website follows the completely new branding and design of SAT², to underline once again that this is a completely new coin.

    "Saturn has been known as the Greater Sun and its enigmas have amazed the scientific community for centuries, now it's time to bring Saturn in to the Cryptocurrency World. "


    Saturn²Coin is a new virtual currency like Bitcoin and Litecoin. While Bitcoin is the Gold of the virtual currency world, and Litecoin being the Silver; Saturn²Coin aims to become the Bronze or Copper to the virtual currency universe.

    It was launched on 30th June 2014, converting automatically all existing old SAT coins into the new SAT² currency.

    Saturn²Coin has improved the transaction speeds, meaning Saturn²Coin is 4x times faster than Bitcoin, and 2x times faster than Litecoin.


    Saturn²coin mission is simple and clear and can be described in 5 main goals:
    • Help Assist causes to make a real difference in this world.
    • Support causes and projects that empower the people.
    • Bring People closer to the cryptocurrency universe and its advantages.
    • Become the Bronze to Bitcoin and support the Bitcoin network.
    • Be a widely adopted method of payment and transactions.



    SAT² supply: in May total amount of SAT was reduced to 7.77bil, without main announcements or development plans. SAT² is a complete new project, by a new engineers team wanting to introduce new technologies in the blockchain using SAT² as the base. To make market easier for trading and out of the ‘penny-alts’ previous reputation, total supply of SAT² will be reduced to 7.77 mil, so 1/1000 of original supply.

    • PoW/PoS hybrid
    • Initial supply: 7,777,777 coins
    • Initial supply will be used to exchange SAT to SAT² (at a rate of 1000 SAT = 1 SAT²) - NO premine
    • NO IPO

    PoS (Proof of Stake)
    • First year: 10% interest per year
    • Second year: 5% interest per year
    • Third year onwards: 2.5% interest per year - Minimum stake age: 10 days
    • Maximum stake age: 20 days
    • Block target: 20 seconds
    • Development fund: 1% per year

    PoW (Proof of Work)
    • 10 SAT2 per block
    • Reward halving every week
    • Block target: 80 seconds
    • PoW gets cut off at block 21600 (which should take about 20 days)

    Note: this will only be a very short PoW stage, which has a minimal impact on the total supply. The reason we need a PoW phase is because the minimum stake age is 10 days, so no staking will occur during the initial 10 days. During that time we need PoW to keep the blockchain moving. We have decided to let the PoW last for approximately 20 days, to ensure it covers the (theoretical) maximum stake age. After 20 days there is 100% certainty that staking will be taking place, and at that stage PoW will simply no longer be necessary.
    With these new specifications we will be holding true to the original values of Saturncoin: speed.



    All the SAT coins must be moved to SAT2 at the same rate of new supply (1 SAT² will be worth 1000 SAT), instantly ready for the completely new SAT² BTC market.

    After first change phase happened automatically on exchanges on day of launch, is still possible to have your SAT changed to SAT² following instructions here: https://bt.irlbtc.com/view/556105.msg7623804#msg7623804



    Community controlled development fund: as an engineering team, SAT² is for us the technological base we’ll use for the future developments. To make it happen and grant a future to the coin, we’ll avoid any premine and we’ll get instead a percentage per year. The proposed development fund payout is 1% per year. This mechanism will work the same way as staking. For staking, a certain interest % gets paid based on the amount of coins that are held in the wallet in question. For the development fund for every minted block a small amount gets paid to the development fund, which will equal 1% after a year. This will grant future developments forever, not just first months, and interest to keep the projects interesting for the market, and no dumps will ever be possible. Like all our investors, we get paid as we work.



    Saturncoin < Old version > - Saturncoinfoundation.org

    Current specs:
    • Algorithm: Scrypt PoW (transition to PoS has started)
    • Started: Feb - 1st - 2014
    • Coins: 7.777.777.777
    • Blocktime: 80 secs
    • Blocks confirm: 2 confirms
    • Retarget: every block (KGW)
    • Starting Diff: 0.03
    • Block rewards: 1-250,000 (will be fixed to 10,000 from block 85000 until PoW ends, PoS afterwards)
    • Reward halving interval: 30.000 Blocks

    Wallets:
    Nodes:
    Code:
    addnode=213.179.192.62
    addnode=74.196.59.25

    Miningpools:
    Coinmine.pw
    CryptoPoolMining

    Exchanges:
    Mintpal
    Cryptsy

Page 1
Viewing Page: 1