It appears as if the Easter holidays are bringing some potentially interesting crypto currencies to the world this year. Even though there are already quite a lot of different coins available, I do believe that Caishen is an interesting one, and I’ll tell you why.
Although, I might actually have to correct myself already, as Caishen is not a crypto currency, it’s more of a company, where the assets are CAI (Caishen) and the company shares are traded and/or mined by the community. (This does kind of remind me of NoirBits)
But that’s not all. The Caishen developers have built a business outside of the client itself, a “ business that supports CAI by creating multiple revenue streams that will buy back into the shares of the company CAI on the open market. Today, multiple coins are using the multipool concept to do this. CAI on the other hand will go beyond that by utilizing different avenues of creating funds to buy CAI on the open market.”
So how will the team do this? Games and applications will be created for multiple mobile platforms. The Caishen team has already secured approval from the Google Play Store, and is as of this writing awaiting approval from Apple.
The first game, called Tiny Elementals, will be released as an open beta on the aforementioned platforms, with future plans to implement crypto currency purchases with the team’s game server to be added in the final release of the game.
A video of the Tiny Elementals game should be available on YouTube in the coming weeks.
These applications & games servers will also be used to launch a crypto currency payment processing branch for Caishen (the company). The basic idea to is to accept high trading volume altcoins, which will be converted to Bitcoin to pay a webshop accepting Bitcoin payments.
Further details on how this will work exactly, and which altcoins will be supported, are set to be announced at a later date.
As interesting as that may sound on its own, let me give you another fact that makes Caishen interesting : there was a pre-mine. However, part of the pre-mine will be destroyed once CAI goes into its PoS stage (no ETA available yet, but this will require a client update).
This PoS-stage transition will also lead to the creation of a Caishen Multipool. Details on this project are being kept a close secret for now, but we will keep you updated as we receive more information.
In case you are interested in acquiring some Caishen, but don’t feel like mining them, you can purchase them on the MintPal exchange. Do keep in mind that CAI will be a very rare coin, and could prove to be a solid investment for the future.
Now, i know you are really interested in the technical aspects of Caishen as a miner, so I’ll give you a quick rundown :
Algorithm: Scrypt Adaptive-N
Block Reward: 28 CAI
Block Target: 88 seconds
Difficulty Retargetting: KGW Every block after 500
Max Supply: 28 million
Block Rewards: Amount left to be mined.
28 CAI (block 0000002 – 358363) year 00-01 => 17,405,892 left to be mined
10 CAI (block 0358363 – 1075089) year 01-03 => 10,238,632 left to be mined
05 CAI (block 1075089 – 2150178) year 03-06 => 04,863,187 left to be mined
03 CAI (block 2150178 – 3583630) year 06-10 => 00,562,831 left to be mined
01 CAI (block 3583630 – 4705306) year 10-13 => CAI TX Fee left to be mined
Caishen donations can be sent to : CWi3Y5gGzK81JWPH5hyMnGVVTE457e7fDt