Features
Multi-algorithm Support
With RIchCoin, you can mine with 5 algorithms: scrypt, x17, Lyra2rev2, myr-groestl, & blake2s. With 5
algorithms at play, it would need more than 50% of all computing power on the network to carry out a
51% attack, making such attacks theoretically impossible.
In addition, more GPU-optimized algorithms, giving them a more even playing ground
against possible ASICs in the future, reducing competition with ASICs and chance of them overdominating the blockchain.
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Stable Inflation
For the first 8 years, the block rewards will halve at certain checkpoints, giving the currency a deflationary curve.
This is to stabilize the economy in its early stages, and carefully introduce currency into the ecosystem. However,
we believe that this is not feasible as a long-term protocol, as it could cause overinflation and instability
as seen with Bitcoin's sudden growths and dips.
Hence, after the 4,224,000th block, the network will shift to having gradually increasing block rewards, scaling with the
average block difficulty and number of blocks created, allowing for stable, safe, and long-term inflation.
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Fast Transaction Times
Bitcoin's current protocol aims towards 10 minute transaction time, but only readjusts hash difficulty every 2016 blocks, creating noticeablely
long transaction processing times, sometimes taking up to twice the time, or much more.
That is why we set the protocol to aim for 1 minute blocktimes, readjusting the difficulty EVERY block, ensuring efficiency in the RIchCoin network.
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Dedicated 24/7 Server Node
We have also set up a dedicated server node using Amazon's EC2 services that you can connect to 24/7, meaning you can connect to the RIchCoin blockchain swiftly with no hassle.
Copyright RIchCoin Developers 2018