AtenCoin is introduced by the National AtenCoin (NAC) Foundation, which is an organization that supports initiatives in oil and gas, electricity, and virtual currencies. Strengthening the social sector by advancing knowledge about using regulated virtual currencies in the U.S. and around the world in the energy sector.
The “ATEN (Black Gold) Coin” BGC – Black Gold Fever – New way of Crypto currency Transaction Network Creation. Aten (Ae) is a hypothetical element, which is an extremely rare precious metal. It has a black shiny appearance. It's value is at least 1000 times that of gold. That’s why it is also called “Black Gold”.
Technical Specifications are as follows:
• Total of 2.1 trillion BGC will be mined in 113 years
• Super secure hashing:
- Based on cryptographic algorithm of QuarkCoin
- 9 rounds of hashing from 6 hashing functions (blake, bmw, groestl, jh, keccak, skein)
- 3 rounds apply a random hashing function
• 6 transaction confirmations
• 240 mined block confirmations
• Block average time: 75 seconds
• Premine: 1st block – 3099th block
• Public minting: 3100th block and onwards
• Block reward:
1 - 100: 10,500,000,000 BGC per block (premined)
101 - 3099: 1 BGC per block (premined for stabilizing the blockchain and block generation rate)
3100 - 16600: Starting from 5000 BGC per block, reduction of 1 coin per 3 blocks until 500 coins per block (~11.7 days)
Starting from 16601: 500 BGC per block, increase of 0.0133589% per 1152 blocks (annual increase of 5%) to resist inflation and provide incentive for continuous minting
• Difficulty retargets every 20 blocks (maximum 10% up or 50% down). At 3100th block, the minting difficulty will be as low as a new coin that has not been mined before.
Global Decentralization Methods
• 50% coins (starting from Block 3100) will be decentralized to the public in the process of global minting (PoW).
• 45% coins (945 billion) are premined, and distributed to millions of people all over the world through Black Gold Fever
Campaign (giveways and PoS). Details of the Black Gold Fever will be announced after AtenCoin has been mined for 10 days.
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