The Newbie’s Guide to the Kimoto Gravity Well
Many of you may have heard of Kimoto’s Gravity Well and that it is supposedly a major part FoxCoin’s stability However, many of you may also not know what exactly it is and what makes it so special. If that is the case, then this guide is for you.
What Is a Mining Difficulty Readjustment Algorithm, Anyway?
To understand what the Gravity Well algorithm is and what it does, you first need to understand what a “mining difficulty readjustment algorithm” is and why is it important for all current cryptocurrencies based off of the original Bitcoin source code. First, let’s pull a few important definitions from the Bitcoin wiki:
Difficulty is a measure of how difficult it is to find a new block compared to the easiest it can ever be. Continue reading Getting Started with KGW.
Scrypt PoW – 60 Second Blocks – 1 Block Difficulty – Ever-Decreasing Reward.
Welcome to FoxCoin, one of the few true cryptocurrencies. FoxCoin was not designed for profit, a quick pump and then a big dump, like many of these so-called ‘currencies’ are these days. FoxCoin was designed to be fair and not do things like give a massive advantage to early adopters, or saturate the market with coins devaluing the currency. FoxCoin is immune to pump & dumping, multipools, etc.
FoxCoin provides many advantages over fiat currency…
The FoxCoin network has no central controller; nobody has authority over the creation, distribution, usage, rules or regulations pertaining to FoxCoin. Your coins will probably be worth what they were yesterday – your purchasing power is free of inflation. No more coins will be created tomorrow than were expected yesterday. Have faith in your money not your government or your bank.
Continue reading A Fully Dynamic Cryptocurrency.