What is the new Pinkcoin?
Pinkcoin is a classic PoW/PoS based coin with fixed PoS rewards, launching a new technology called flash-staking. Flash-staking increases the stake rate and reward structure during pre-selected peak hours of the day, reducing the overall block count over time while retaining the confirmation speed that Pinkcoin is known for.
In addition to its flash-staking capabilities, Pinkcoin also offers another revolutionary, first-of-its-kind staking feature we call side-staking. Side-staking allows users to break up staked reward blocks while outputting them automatically into multiple addresses. This extraordinary ability allows for a concise and simplistic way for users to donate and tip their staked rewards to friends, family, various crowdfunding campaigns, and all their favorite charities with an easy set it and forget it click of the mouse.
The aim for Pinkcoin is: simple, trustless transactions between individuals and public facing businesses with user friendly controls that emulate what one might expect from a private credit card or checking account. Making the process of donating fun, easy, and effortless, Pinkcoin’s exhilarating new blockchain is crafted to encourage altruism!
The General Specs:
POW/POS, Scrypt mining algorithm
POW: 2 Minutes, Reward 50 coins
POS: 6 Minutes, Reward 100 coins
FlashPOS: 1 Minute, Reward 150 coins
Average block time POW/POS: 1 1/2 Minutes
Average block time FlashPOS/POW: 40 seconds
Rewards halve every 2 years
Ultimate cap is 500,000,000 coins
- People with fewer coins have a much higher chance of staking successfully during peak flash hour periods, when rewards are highest.
- A worthwhile number of coins are mined, and the mining is consistent across the board, making blocks consistent and further hardening the network.
- It is designed as a balance for all mentalities – min/max, consistent stakers, and dedicated miners.
- User-friendly controls allow for making donating staked rewards to multiple addresses a breeze.
“The whole concept should encourage a healthy, permanent network. Minute and a half blocks are plenty fast for most purposes. Anyone that wants to rush the market or otherwise complete a transaction more quickly than normal can plan their transaction to take place during a flash period. However, if you did you’d be doing so at the expense of the coins you could have staked yourself during that time. So it’s got a game to it. A little play, a little fun, a little angle people can try to work.” -Caligo, Lead Pinkcoin Wallet Developer