User:BekaluTemesgen

Amolecoin

Amolecoin runs on a completely different consensus algorithm, “web-of-trust.” With WoT, Amolecoin is not susceptible to the weaknesses of PoW and Proof-of-Stake (PoS).

Amolecoin Features

Lightning Fast Transactions take as little as 2 seconds. With no bottlenecks or fees, Amolecoin is faster than other cryptocurrencies and competitive with credit cards and Apple Pay.

Zero Fees Amolecoin transactions cost Coin Hours, a separate currency paid to Amolecoin holders for each hour they hold a coin.

Secure Amolecoin makes full use of time-tested cryptographic standards to ensure transactions can’t be tampered with. Amolecoin renders useless such threats as 51% attack, reversal, duplication, and malleability.

Private Amolecoin’s transaction structure was designed to seamlessly adopt the CoinJoin protocol. Once integrated, Amolecoin mixes transactions from multiple wallets to ensure they are indistinguishable from one another.

Sustainable Without the enormous computational energy requirement typical of PoW and PoS processes, Amolecoin can run on a 30-watt cell phone processor.

Supply And Distribution

Amolecoin is immutable. The total supply is capped at 100 million 1 coin for 1 Ethiopian, and coins cannot be created or destroyed. Distribution is an open process. As more coins reach the public, the rate of distribution will slow. This approach puts Amolecoin in the hands of users and community members instead of miners and speculators.

Amolecoin's mission is to create a new more stable finical system for Ethiopia. Unowned distributable coins will go into supporting long term network growth (e.g. subsidizing more users to build nodes). Because of this growth-oriented approach, Amolecoin does not need a large upfront fund. At the time of writing, there are 75 million undistributed Amolecoin, and they cannot be distributed until the first 25 million (25%) have been distributed. For every year after the first 25% are distributed, another 5% unlocks.

Distribution beyond the initial 25% is hard-coded into protocol and time locked so that coin distribution stays below the 5% maximum. By creating a hard-coded, time-locked distribution policy, Amolecoin ensures several things: a fair process that does not deviate from the team’s original intent, a rate of distribution aligned with user growth, and the protection against inflation.

Coin Hours

Amolecoin transactions do notincur fees.Transaction fees,similar toblockrewards that incentivize miners to drive up fees at the cost of the network, only create monetary incentives with adverse effects by eliminating transaction fees. Instead, Amolecoin transactions cost Coin Hours—not Amolecoin.

To earn Coin Hours, users simply hold Amolecoin in order to participate in the process of hosting nodes. For each Amolecoin held by an address per hour, its owner nets 1 Coin Hour. Therefore, holding 1000 Amolecoin for1 hour generates 1000 Coin Hours. Beyond transaction fees, Coin Hours increase transaction privacy within the Amolecoin CoinJoin infrastructure by acting as collateral for mixing. This prevents participants from backing out of or slowing down CoinJoin transactions.

To prevent inflation and support fair use, only a maximum 100 million Coin Hours are produced each hour. Each transaction will burn 50% of the accumulated Coin Hours attached to the coin outputs being spent by the transaction, rounded up. This creates scarcity and limits the number of Coin Hours in circulation to an equilibrium value.