PhilosopherStone (PHS) - Crypto Commodity / Crypto Currency PoS/PoW hybrid - Mine OR Mint
A descendent of Novacoin (NVC) /PeerCoin (PPC) with hybrid Pow/PoS Stone generation (energy efficient).
Philosopher Stones provide an annual interest rate of 50%. This equivalent to 3.44% monthly interest. PoS blocks will be generated if the Stones are held for 5-15 days. No special hardware needed.
Transaction fee destruction to benefit miners/stake holders. Increased transactions = increased destruction
Each normal block has 64/32/(16)/8/4/2/1 Philosopherstone
2 minute block time
Difficulty re-targets every block
Mining payout will be halved every 3 months (or every 64800 blocks) (has happened twice)
Expected total mined coins will be 8,891,840 Philosopherstones (Much less due to PoS overtaking PoW)
6 confirmations for transactions
50 confirmations for minted blocks
“The only reason we die, is because we accept death as an inevitability.”