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 Galleon Coin |
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| Coin Description: |
| I think the internet is going to be one of the major forces for reducing the role of government. The one thing thats missing but that will soon be developed, is a reliable e-cash.
Professor Milton Friedman, a Nobel Prize winner in economics The project is an evolution of the Proof-of-Stake Concept pioneered by King and Nidals whitepaper Peer-to-Peer Crypto-Currency with Proof-of-Stake. GalleonCoin may very well be decried by some as just another PIVX fork, yet there is a method to our madness. We have programmed in a generous Proof-of-Work phase of 5 million blocks, with no reward halving, to provide a little love to the mid-range GPU-mining community which is currently being squeezed out of Ethereum mining due to larger DAG file sizes. The 1000 GALE block reward could make medium-term gains via pool mining for persons with even modest graphics cards to mine profitably in the long term. The project values a marge mining and masternode community as in eventual updates we expect to launch tokens,apps, and games hosted on our blockchain. Once the 5 million minable blocks are past, GALE will avoid the perils of irreversible deflation inherent in all PoW-based coins thanks to the Proof of Stake (PoS) system programmed into the blockchain. The masternode system provides blisteringly fast transaction speeds, stable governance, and, provides a low-cost route to passive income for webmasters, who as anyone who knows anything internet knows operate on the slimmest of margins during the best of times. |