EduCoin – Digital Currency for Education

I’m a big fan of crypto currencies that have a new or original idea behind it. Whether or not that idea will be realized at some point, remains to be seen. But we can all use a bit of excitement in our lives, right?

The first thing about EduCoin that struck me as funny, was how the developer calls himself Satoshi Edumoto, but you can just call him “Edumoto”.

However, that’s not the main reason why I wanted to talk to you guys about Educoin. There is a bigger purpose to this new Scrypt crypto currency.

When it comes to education, and more importantly, paying for said education, we are touching on a very delicate subject there. Not all of us get the same chances, funding, or scholarships.

What if we could change that, one small step at a time? What if we could create a crypto currency designed to pay for education? Or at least help to pay for it? That is what EduCoin is really about.

Some of the things that could be done with EduCoin include : paying school fees, microtransactions on campus, crowdfunding research, and much, much more.

Now, talking about a crypto currency like EduCoin wouldn’t be the same without giving you some technical details, so here we go :

SPECIFICATIONS

•   Algorithm: Scrypt  

•   Total coins: 101,000,000,000

•   Difficulty: Retargeting using Kimoto Gravity Well

•   Block Time: 30 seconds

BLOCK REWARDS

•   Block 1-100,000: 1-1,000,000 EduCoin

•   Block 100,001-200,000: 1-500,000 EduCoin

•   Block 200,001-300,000: 1-250,000 EduCoin

•   Block 300,001-400,000: 1-125,000 EduCoin

•   Block 400,001-500,000: 1-62,500 EduCoin

•   Block 500,001-600,000: 1-31,250 EduCoin

•   Block 600,000+: 10,000 EduCoin *after 101,000,000 mined, 1% per year coins generated at 10,000 EduCoin

EduCoin is currently still in the early stages, so we’ll have to wait and see if this new crypto currency can really take off. We at CryptoArticles will gladly help out with that.