Technical details of the Earthcoin network
Blockchain parameters
- Scrypt hashing algorithm
- Proof of Work (POW) mining
- 60 seconds block target
- Difficulty retarget after each block (+167%, -91%)
- Total coins will be 13.5 billion coins (infinite by a theory, because the minimal block reward is 1 EAC, but in the practice 13.5*10^9 will not be exceeded within the next 2000 years)
- 50 confirmations per minted block
- 5 confirmations per transaction
- Supports transaction messages
- Initial block reward on average 10,000 EAC, varies seasonly ( currently 625 EAC)
- Block payout is halved every year, minimum payout of 1 EAC per block
- Superblocks every 14 and 31 day
- The default ports are 35677 (P2P-network) and 15678 (RPC-calls, optional)
Transaction speed
The mechanism behind Earthcoin which is based on peer-to-peer, allows transactions to happen very quickly. This means that once you pay or get payed with Earthcoin, the time taken to see the money transferred is equal or sometimes faster than the avarege debit card. Earthcoin promotes transaction times of approximatly 30 seconds where it is actually closer to 10-15 seconds which is nowadays regarded as being instant. The true strength behind this speed is the abillity to use it in any store in the near future with the same feel of speed as the currency you hold today.Security
The Earthcoin network had been attacked by a 51% attack and controlled by a group of hackers for several months in the middle of 2017. Thanks to the unwavering efforts of the community, the attack was thrown back and EarthCoin was returned to all users. The source code was then fixed, secured against similar attacks in the future and a unique protection against time travel attack was implemented. The EarthCoin code is now much more secure than most of other cryptocurrencies.In the first half of 2019, a major upgrade of the Earthcoin network was done and security features according to the current blockchain protocol of Bitcoin and Litecoin networks were implemented.