MidasCoin, relaunched on 19th September 2014, is a new PoM (proof-of-mining) scrypt altcoin. MidasCoin is a cryptocurrency with 0 Premine, no IPO, and directly backed by its own independent reserve. The value of MidasCoin is backed, guaranteed, and transparent at every moment.
MidasCoin website: http://midascoin.io/
Main new features of MidasCoin are as follows:
- ATM Withdraw WorldWide
- MidasCoin Debit ATM Card
- MidasCoin Virtual Credit Card (VCC)
- No pre-mine – NO IPO
- New Scrypt PoM distribution algorithm
- Guaranted backed value
- Merchant API
- 0% Fee Mining Pool With Referral System
- Impossible to Instamine
- Open Source
PoM distribution excludes the risk of “solo instamining” in the beginning, meaning solo mined blocks will not generate any rewards. MidasCoin implements a completely transparent custom Transaction fee (1%) of which the transaction amount is used as a revenue model for the Midas Payment Network.
MidasCoin technical specifications:
- New innovative Scrypt PoM (Proof of Mining) Algorithm
- Compatible With current Scrypt Mining Devices (including asics)
- Block generation: 2.5 minutes
- Starting Block Reward of 50 MidasCoin, decreasing every month following a custom reduction formula
- ￼Total coins: 7,611,236 issued in 36 Months enhanced distribution, followed by a fixed
￼block reward of 2 Coins/block: No cap
- Wallet Connections Ports: Normal: 9554 RPC: 9553
- Coins backed by REAL GOLD held in a gold reserve with a minimum guaranteed daily increment
- Monthly Block Reduction rate based on a custom scheme.
- 1% starting taxation on every transaction as a clean and transparent revenue model towards Midas Payment LTD’s investors.
- Taxation decrease as block rewards decrease, going down 0.25% every 12 months until it reaches a flat 0.25% transaction tax after 36 months
- Official Mining pool (Midaspool.com) with 0% fee and Referral system
- Minable only through the PoM official pool Midaspool.com. Solo mining is voluntary contribution to network stability and will not produce any rewards(except our gratitude)
- Mining support for X11/X13, SHA256 and more in the future!
New PoM algorith allows to mine MidasCoin only within the Midas Coin Pool. Solo mining is not possible to make instamining impossible. This coin can be mined with any hardware which supports scrypt, including ASICs.