A new cryptocurrency
I’ve released the code of a cryptocurrency I’ve been writing, currently named Ercoin. Planned features:
- 100% proof of stake — no wasteful mining.
- Transaction messages.
- 1-second confirmations.
- No chain forks.
- Expirable accounts instead of unspent transaction outputs.
- Fair distribution via proof of burn — no premine, no ICO.
- Accounts managed by multiple keys in arbitrary combinations.
- Transaction fees decided by consensus.
Some background had been previously posted to the Erlang mailing list. An IRC channel has been created: #ercoin on irc.freenode.net.