#####Mandatory update to v1.2.0.0 required before Jan 31st, 2014 @ 00:00:00 UTC
CraftCoin is a cryptocurrency based on Litecoin. CraftCoin was designed to be a portable in-game currency for Minecraft servers. The currency is used to buy in-game items on minecraft servers, and can be instantly transferred to any other Minecraft server that supports CraftCoin. The reason this coin was made is: Prior to the spike in value of LTC, I ran a successful Minecraft server that used LTC as an in-game currency. The sudden spike in value caused a "bank run" and suddenly people stopped playing on the server due to hyper-inflation. This coin aims to solve this problem, since the value of a CraftCoin will be based on what players are willing to pay for in-game items, rather than being tied to a coin with fluctuating value. CraftCoin is not intended to be a competitor with Bitcoin, Litecoin, or any other currency. Its one and only purpose is simply being a game currency that is protected from wild price swings that cause inflation/deflation on minecraft servers, and yet remains portable across any group of servers that wish to adopt the currency.
I will be preparing a package for people to download all of the necessary software and plugins to implement CRC on their own Minecraft servers soon. Please check back soon.
New parameters starting block 32000
- 1 Minute blocktime target (Faster transactions!)
- 2 Coins per block (Adjusted for faster blocks, same targeted payout per hour as before)
- 100,000,000 Total Coins (unchanged)
- Difficulty Adjustment Every 60 Blocks (1 hour) sampling last 240 blocks (4 hours)
- Reduced max diff adjustment to 25% (from 100% previously)
These changes should result in a more stable, faster blockchain. Brought to you by RazorLove
Old parameters still in place until block 32000
- 10 Coins Per Block
- 5 Minutes Between Blocks
- 100,000,000 Total Coins
- Difficulty Adjustment Every 12 Blocks