What is SpeedCash?
SpeedCash is a peer-to-peer decentralized Proof of Stake Velocity cryptocurrency with an initial Proof of Work mining distribution period lasting up to 476,918 coins mined. After the initial mining distribution period is over, the network will transition into an energy efficient Proof of Stake Velocity algorithm which will reward balance holders on the network with an 8% annual staking interest.
SpeedCash is based on the revolutionary Blockchain concept and focused on fast cash-like transactions (30sec block time with short possible speedups to 3sec using BURST feature) providing the set of integrated services: Messaging over Blockchain, Documents Vault, Payment Gateway and Json Data Source Server.
Coin ticker: SCS
Current PoW block reward: 2 SCS until block 320k
PoS annual interest: 8%
PoS minimum stake age: 1 hours (received TXs), 4 hours (mined blocks)
PoS block rate: ~66%
Block size: up to 2MB
Block time: adaptive from 20 to 30 seconds
Required TX confirmations: 3 to 7 (depending on the transaction value)
Mined blocks confirmations: 60 to become mature
Minimum (non-dust) amount per TX: 0.001 SCS
Minimum TX fee: 0.001 SCS
Requires 3 confirmations: expected confirmation time from 30s to 2m
Maximum amount per single TX: 100 000 SCS
Maximum TX fee: 0.024 SCS
Requires 7 confirmations: expected confirmation time from 90s to 5m
Dust-like transactions (planned): 0.0 SCS fee, instant confirmation
Connection port: 35334
Default RPC port: 35333