Introducing a completely new blockchain for RGCoin based on a completely new algorithm Nist5 (PoW) + Proof of Stake, which offers high security and encryption as well as new features and ideas of POS.
Why RGCoin created?
RGCoin was created to pay tribute to the people and the Ex Prime Minister Rajiv Gandhi of the largest democracy in the world seventh largest and the second most populous country in the world. India!
The decision to develop a crypto-currency was made to support the very fast growing economy and market within the country and beyond its borders. The name RGCoin is tribute to the youngest prime minister of India who was A modern-minded, decisive but undemonstrative man, He was at home in the world of high technology and one of his main objectives, besides preserving India’s unity, was to propel it into the twenty-first century.
With RGCoin a lot of possibilities will be provided for businesses, traders, private persons and social projects as the technology, services and apps are freely usable by everybody on this planet
The already existing infrastructure consists of any type of wallets, block-explorers and in the near future also payment solutions enabling RGCoin to be used as means of financial transactions by businesses and private persons.
RGCoin will also be submitted to every exchange and every possible crypto-service in the world to ensure sustainable and stable supply for existing and new users.
RGCoin will add a great value to the Indian and International Market and Crypto-Community. Its one of the first and biggest national coin-concepts of the world
Pow-Pos / NIST5
120 seconds / 12 RGC / 1MB
Total Supply: 300,000,000 RGC
Premine : 20%
PoS activation: after PoW end
RGCoin designed the NIST5 hashing algorithm to provide a better combination of power efficiency and security than existing algorithms. NIST5 chains the 5 final round candidates for the National Institute of Science and Technology’s SHA-3 hash competition, which were all selected for their performance & security (BLAKE – Grøstl – JH – Keccak – Skein). NIST5 excludes algorithms eliminated from the final round for security and performance concerns such as CubeHash, Luffa, simd, Shavite-3, ECHO as found in X11 and Hamsi and Fugue added in X13. For more information on the NIST competition see here: http://nvlpubs.nist.gov/nistpubs/ir/2012/NIST.IR.7896.pdf
The decentralized blockchain of RGCoin offers ample opportunities of application. The network uses the hybrid and economic confirmation algorithm “NIST5” offering advantages of POW (Proof of Work)
and POS (Proof of Stake), which constitutes mining possibility for everybody in the world by anyone.