Halcyon Coin is a decentralized digital currency, launching August 16th 2014 with a Proof of Work (PoW) period lasting approximately 9 days. Halcyon was developed so the PoW period would run simulataneously with the Proof of Stake phase (PoS), which eventually took over the blockchain as a means to confirm transactions. Halcyon was launched with no Premine or IPO. Stake holders are rewarded for holding their coins, at a rate of 9% annually. This rate also compounds on itself, and the staker is rewarded transaction fees as an extra incentive. Halcyon users with wallet balances greater than 2000 coins will soon be able to participate as masternodes, which will provide another source of residual income. There were a total of 1.62 million coins produced by the end of the PoW phase. The x15 algorithm was chosen so as to give individuals the best chance to acquire coins, with the least amount of multipool and asic interference.
Specifications
advanced hybrid proof-of-work (PoW) and proof-of-stake (PoS)
fixed rate of 20% PoW blocks and 80% PoS blocks
block hashing is BLAKE2s
PoW hashing is NeoScrypt
PoS hashing is SHA-256d
2 minutes combined block target (2.5 minutes for PoS, 10 minutes for PoW)
retargets every block using Orbitcoin Super Shield (OSS)
time warp and instamining protection
advanced checkpointing against 51% attacks
PoW block reward is fixed at 5 HAL
PoS block reward is up to 100% per year (5 HAL max.)
coin age for PoS: 0.5 days min. to 7.5 days max.
10 confirmations for regular transactions
50 confirmations for minted coins
very low transaction fees
the default P2P port is 21108, RPC port is 21109
I2P/Tor ready
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