POW Hash: Momentum (64K XOR AES-CBC x 50) with SHA512 Generation
Block target: 6 minutes
Codebase: ProtoShares 0.8.6 (Bitcoin 0.8.5)
Block reward: 280 MMC, 5% reduction every 1680 blocks
Total Coins: 10 Million coins in the first 2 years, 2% inflation thereafter
Difficulty Retargeting: Every block with the Kimoto ‘Gravity Well’
There is a total premine of ~7.3% distributed over a wide range of addresses, comprised of two parts,
~6.2% – MemoryCoin Beta
All balances from the original MemoryCoin as at block 8820 are transferred into the new blockchain at Block 1. MemoryCoin 2.0 has 10 million coins so there is a significant dilution. This dilution does not apply to MCF supporters. You can import your balance by using your old wallet with the new blockchain.
~1.12% – ProtoShares Holders
ProtoShares owners as at Block 32000 will receive a distribution at a rate of 1 MMC for each 10PTS. With around 1 Million PTS issued, there will be 100,000MMC distributed in this way, and PTS owners will cumulatively have a 1% stake in MemoryCoin at launch. You can import your balance by using your ProtoShares wallet with MemoryCoin. It is recommend that you transfer your balance to a fresh MemoryCoin wallet after import.