Posts Tagged ‘Philosopherstone mining’

Philosopherstone (PHS) Scrypt based cryptocoin

2, Feb 2014

philosopherstone-scrypt-crypto

The ‘squared circle’ or ‘squaring the circle’ is a 17th century alchemical glyph or symbol for the creation of the Philosopher’s Stone. The Philosopher’s Stone was supposed to be able to transmute base metals into gold and perhaps be an elixir of life. Philosopherstone (PHS) – a fork of Diamond, with several algorithms fixed and improved. It is decendent of Novacoin/PPCoin with Pow/PoS. It combines the great features from Luckycoin (random blocks) and Florincoin (transaction message), is launched! No Premine!

There were a couple of new PoW/PoS coins launched recently, most have problems with PoS generation. Either we see zero-coin PoS blocks generated, or the generation is not accurately reflected in desired PoS percentage. In Philosopherstone we fixed these issues, and after 5 days the PoS blocks will be generated reflecting the precise interest rate defined by the coin (in this case 50% annual interest or 3.44% monthly interest).

Proof of stake coin is more secure and is much more resilient to 51% attack. Since 51% hashpower is not enough to execute the 51% attack. The attackers must also have at least 51% stake in the coin. Philosopherstone provides annual interest rate of 50%, for stakes that are not moved during the period. This equivalent to 3.44% monthly interest. PoS blocks will be generated if the stake is held for more than 5 days.

Website
http://phstones.com/

Block Explorer / Crawler
http://diamondblocks.info/chain/Philosopherstone

SPECIFICATIONS

  • Scrypt Algorithm
  • Each normal block has 64 Philosopherstone
  • 2 minutes block time
  • Difficulty retargets every block
  • Mining payout will be halved every 3 months (or every 64800 blocks)
  • Expected total mined coins will be 8,891,840 Philosopherstones (Current estimate <3million)
  • 4 confirmations for transactions
  • 50 confirmations for minted blocks
  • Transaction messaging
  • Proof of Stake hybrid – Coins will mine themselves every 5-10 days

DOWNLOADS
Windows

Source Code
at GitHub

PORTS

  • RPC Port: 16282
  • P2P Port: 16281

POOLS
– http://pool.phsblocks.com/
– http://phs.minar.cc/
– http://phs.coin-pool.org
– http://phs.broken-arrow.pl/

EXCHANGES
– Cryptsy


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