What is Netcoin?

Netcoin (Ⓝ/NTC) is a proposed cryptocurrency with a hybrid proof-of-work and proof-of-stake system that affords eventual control of the monetary supply to users.

  • Uses a new approach to secure hashing algorithms for the hash tree of a given block that should increase FPGA/ASIC resistance
  • After 27 coin years it employs a system of voting to manipulate the interest rate of the block chain (users act as the central bank and regulate the rate of inflation)
  • Difficulty is based on the linear weighted average of the block times for the past 18 days for PoW blocks
  • New block reward adjustment algorithm is given that yields an 8% decrease in block reward per year
  • Simple PoS design (stripped of as many complexities as possible)
  • PoW and PoS systems are designed to happily coexist, with favour slightly given to the PoW system
  • PoS system also intended to prevent 51% attacks
  • Coloured coins, e.g. for rewarding projects that you create arbitrarily
  • Ledger system for regular coins that allows for a lightweight version of the blockchain instead of having to download the entire blockchain