What is Hivecoin ?
Hivecoin is a blockchain platform that integrates simplified smart contracts. According to the Bitcoin protocol’s UTXO model to develop and test, and based on Ravencoin and the Bitcoin code branch to create. Hivecoin creates a simplified version of the smart contract module and uses it to implement asset issue, asset transaction, asset mortgage, community autonomy, master node network, budget review, and DEFI
A fork of the Ravencoin code, Hivecoin features four key changes:
- The issuance schedule (block reward of 5,000 HVQ)
- Block time (1 minute)
- Coin supply (21 Billion)
- Mining algorithm (KAWPOW)
- 45% of HVQ to miner
- 45% of HVQ to Masternode
- 10% of HVQ to Hivecoin community
The current KAWPOW algorithm aims to overcome the problem of centralisation of mining by utilising over the counter graphic processing unit (GPU) memory and compute capabilities. This is intended to allow most consumer grade GPU hardware to mine Hivecoin. The KAWPOW algorithm was derived from ProgPOW and ethhash, with modifications, to improve the distribution of Hivecoin to everyone.
Unique characteristics of Hivecoin
- ASIC resistant – Uses the KAWPOW hashing algorithm to discourage the development of ASIC hardware.
- Fair launch – Everyone has equal opportunity to mine or purchase HVQ since day one.
- No pre-mine, no ICO.
- Community Driven, and 10% of HVQ to Hivecoin community.