Earlier today, someone pointed me towards HeavyCoin. I knew the name of course, but never looked at it in-depth. Time to make up for that on this beautiful Friday afternoon in Belgium.
When it comes to creating a successful crypto currency, having a strong community is the key. Reward that community with the power to decide how your coin will continue it’s development, and you might have a golden combination. And that’s exactly what HeavyCoin does.
By using decentralized voting , all HeavyCoin community members who have the QT client installed, or are mining HVC, can vote on how long the minting part of HeavyCoin continues, as well as how big the total supply cap will be.
As of right now, the supply cap still stands at 128 million HeavyCoin, but with enough votes, that could be changed to 63 million. Interesting how that would play out , don’t you agree?
A most interesting bit about HeavyCoin, is that they have developed Linux wallets for different distributions, such as Ubuntu 13.10 (Saucy) and Debian7 (Wheezy) . Windows and Mac OSX Mavericks wallets are available too of course.
By using the HEFTY1 algorithm, HeavyCoin is ASIC-resistant. This algorithm combines SHA-256 with Keccak-512, Grøestl-512 and BLAKE-512 in a secure way. I like this approach very much.
HeavyCoin used to handle difficulty retargeting by using the Kimoto Gravity Well. This has been changed, however, to Temporal Retargeting, which provides multipool protection that goes beyond KGW.
There is more to find out about HeavyCoin, but I’ll let you decide whether or not you want to know more. if you don’t, no problem, we’re still buddies!