Test stage has started

transparentThe new crypto-currency called BeaverCoin has advanced to test stage today. It uses a scrypt algorithm and is technically based on the crypto-currency Litecoin, which in turn is based on Bitcoin.

The amount of coins is limited to 3.36 million. A new block will be generated every minute, which will give you 8 coins as an incentive throughout the first weeks after the start of BeaverCoin. No coins are premined. The difficulty for generating a block will be recalculated every amount of coins your receive per block will be reduced by 50% every year.

For the time being BeaverCoin is running on a beta test mode in order to test the technical stability and build up a proper infrastructure to ensure both functional and technical safety. As soon as the mining-pools, online-wallets and market places are fully set up, the test stage will end and BeaverCoin will be fully launched.

You can download BeaverCoin for free from the homepage. The source code can be obtained here on GitHub.

Specifications

This is what makes BeaverCoin special:

  • Algorithm: scrypt
  • Maximum amount of coins: ~3.36 million
  • Time per block: 1 minute
  • Coins per block: 8 coins
  • Halving: every 210,000 blocks
  • Difficulty: changes every 24 hours
  • 0% coins premined