As we have mentioned in our previous AeroCoin article, which you can find here, this digital currency has some big plans for the future. Some more news has been announced over the past day or so, so let’s take a look at what we missed!
Even though it was previously announced there would be 12 million AeroCoin generated through Proof-of-Work, it turns out there will be far less coins. About half, in fact, as only 6,6 million AERO have been mined in total.
The reason for this coin supply reduction , is because the Proof-of-Work/Proof-of-Stake hybrid implementation caused half the mined blocks to produce PoW rewards, and the other half contain PoS rewards.
You may also remember there was a 2% AeroCoin pre-mine. Keeping in mind the amount of mined coins got pretty much halved, so did the pre-mine. Ever since AeroCoin got listed on BitTrex, the exchange owners offered to destroy half of the pre-mined coins, to let the amount balance out compared to the amount of mined coins.
It doesn’t happen that often that, when things do not seem to add up as originally intended, the developers go the route of destroying an unfair amount of coins. AeroCoin scored some brownie points with me personaly for taking this route.
A point of heavy debate at the moment, is the release of the AeroCoin whitepaper. A lot of people are selling off their coins since this whitepaper was released. Keep calm, it isn’t that horrible as some might want you to believe.
Granted, I have seen far more professional whitepapers. I have also seen far worse ones. THere is not much new information in the whitepaper, and I think a lot of people had far higher expectations when opening and reading it for the first time.
When looking over the AeroCoin whitepaper properly though, we see some more information about AeroME. This project will offer smart contracts, a decentralized exchange and a combination of an escrow/oracle/reputation system.
The AeroCoin decentralized exchange will be anonymous, offer peer-to-peer transactions, and will be completely blockchain based. I told you there were some interesting details in the whitepaper, you just have to take your time to read it properly.
Some more AeroCoin wallet updates are announced in the whitepaper as well, including some sort of invoicing system, and the ability to validate and release funds. Could this be escrow functionality being built into the AeroCoin client?
You can find the AeroCoin whitepaper here : http://aerocoin.org/Aerocoin.pdf
We will keep an eye out for any further AeroCoin announcements and keep our readers updated accordingly.
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