I was asked on Twitter whether or not we had done an article on MemoryCoin yet. Come to think of it, we actually haven’t , which is a shame! Time to make things right and take a closer look at what MemoryCoin is and does!
MemoryCoin is designed specifically for you, the users. It can only be mined on modern computers because of the Special Momentum (non-Scrypt, non-SHA-256) algorithm. GPU mining is possible, but it’s only twice as fast as CPU mining. Interesting!
The MemoryCoin developer team was decided by the shareholders. Everyone who is a Coin Holder in their respective wallet is a shareholder. Votes require only 1 satoshi, elections are hard-coded and take place on the blockchain.
As the MemoryCoin team is currently five new people, you might want to check out the MemoryCoin Square.
All of the money spent by the developers is open to the public to trace, in order to preserve transparency. Most candidates have opted-in to provide transaction data of their spending. Very interesting indeed.
“Memorycoin’s supply schedule favors early miners/investors. The block reward reduces by 5% every week, meaning that more than 80% of the coin will be minted in the first year of mining. After two years, Memorycoin mining will only amount to only 2% inflation. When mining, your MMC will be reduced by 5% every week to complete the supply schedule.”
There is a lot more about MemoryCoin to discover, but I’ll leave that up to our readers to find out for themselves here.
MemoryCoin technical specifications :
Momentum (64K XOR AES-CBC x 50) with SHA512 Generation
ProtoShares 0.8.6 (Bitcoin 0.8.5)
280 MMC, 5% reduction every 1680 blocks
10 Million coins in the first 2 years, 2% inflation thereafter.
Every block with the Kimoto ‘Gravity Well’.
Patched KGW time-warp exploit as of hard-fork at Block 35720.
MemoryCoin is listed on a few big exchanges : Bter, Poloniex, AllCrypt.
To find out more about MemoryCoin, use the following sources :
MemoryCoin website : http://www.memorycoin.org/
MemoryCoin on BitcoinTalk : https://bitcointalk.org/index.php?topic=598187.0
MemoryCoin on Twitter : https://twitter.com/MemorycoinMMC
MemoryCoin on Facebook : https://www.facebook.com/MemoryCoin2
MemoryCoin on Reddit : http://www.reddit.com/r/memorycoin