Cachecoin is a scrypt-based cryptocurrency project that aims to improve the altcoin ecosystem. We want to accomplish this by bringing more features to the wallet, better cross-platform compatibility, and deeper integration with social media. Functionality like tip-bots for social media, a block chain explorer inside the wallet app, and supporting all operating systems (even mobile) are what we’re working on. There are three areas that we’ve put the most emphasis on while developing Cachecoin: security, user-experience, and functionality. These are broad topics, so let’s break it down into specifics.
Anonymous transactions are a much sought after feature in the cryptocurrency community, and with Cachecoin we want to take that concept one step further. Encrypted, off-chain chat, integrated into the Cachecoin wallet is currently in development, as well as full anonymization of transactions. We already utilize Scrypt-Jane in order to combat abuse by ASIC and GPU miners, which keeps the network stable.
Being able to interact with an intuitive and friendly interface is something all users can appreciate. We’re trying to bring that friendliness to Cachecoin by improving upon the original Satoshi client. Early versions of our wallet boast new tools and options, and soon we’ll be releasing a completely redesigned application that is available on all major operating systems.
The functionality of a digital currency based on the Bitcoin model really stems from the wallet application (or applications). The wallet is where you manage your balance of digital currency, and ideally the wallet application should host a large toolset that is user-customizable. Our new wallet aims to incorporate a this modular approach, deviating from the cookie-cutter wallets used by other altcoins.
HOW DOES IT WORK?
- Algorithm: Scrypt-Jane
- Difficulty retarget: Every block
- Target time per block: 15 mins
- Adjustment Algorithm: Logarithmic
- Coin age-to-stake: 7 days
- Reward per block: Inversly proportional to the difficulty
- Mining can be done from the debug console by issuing the command: setgenerate true
- Seednode: 188.8.131.52