Watch the video or visit https://www.hanacoin.com/#mining-setup to get started with mining Hanacoin
What is Hanacoin?
https://www.hanacoin.com/
Hanacoin is a digital currency that enables instant payments to anyone, anywhere in the world. Hanacoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Hanacoin is designed to be simple to use for mainstream adoption. The goal of Hanacoin is to allow people full control of their finances.
At Hanacoin we value Honesty, Commitment, Innovation, Prosperity and Fairness.
Our goal is to develop a coin that can:
- Be used for instant transactions with minimal or no transaction fees
- Be adopted as the mainstream form of digital currency
- Integrate with existing tap and go payment systems
- Comply with and co-operate with regulators
- Use the best available technology
We believe that the best technology to achieve these goals has yet to be developed and intend to contribute towards finding this technology. Hanacoin will be launched using the Lyra2REv2 algorithm which we have assessed to be the most suitable algorithm currently available that aligns with our goals. Lyra2REv2 allows almost anyone with a GPU the ability to mine Hanacoin and the algorithm is ASIC resistant. Hanacoin discourages the development of dedicated mining hardware and encourages the distribution of the verification task.
We are actively establishing a graduate program with local universities to seek out the brightest upcoming cryptocurrency developers. It will be tasked with the challenge to maintain the edge on ASIC mining, explore transaction speeds, lower costs and increase security whilst maintaining the ability to easily integrate with third party technologies such as payment gateways.
The main difference between Hanacoin and Bitcoin is our ability to resist centralized mining. Hanacoin has the flexibility to quickly adapt to the best technology available without the need for consensus from competing groups with their own motives.
Hanacoin is not a privacy coin and will comply with all Regulations and be a transparent coin with public ledgers. Privacy and anonymity oriented coins are becoming a pervasive and often contentious topic. As a result, many figures in the media and government have cast a distrustful eye on such protocols fearing a new medium for illicit and illegal activity. It is our belief Privacy coins will come under increased government scrutiny in the coming years.
Hanacoin for Charity
Hanacoin recognises our responsibility to give back to the community. Donating to charity reinforces our commitment that Hanacoin will have a positive social impact. We will donante Hanacoins to charity each year.
Key Attributes
- Constantly adapting to the latest technology
- Comply with all Korean Regulations
- No ICO Minable at home
- ASIC resistant
- Not a Privacy Coin
- Hanacoin developers have full control of Hanacoin
What is the Aim of Hanacoin?
We are currently in the distribution phase of Hanacoin and are inviting minders to begin mining the coin. We aim for Hanacoin to be a slow and stable p generated to hire additional engineers and specialist to make sure that Hanacoin can be traded as cheaply and quickly as possible. We plan to be listed on Korea's top exchanges within two years.
ROADMAP
2018 - 2019
- Secure Hanacoin network by encouraging users to mine and establish their wallets.
- Upgrade and maintain Hanacoin code base.
- Develop and release Hanacoin wallet for web and mobile.
- Improve and maintain Hanapool.
- Establish graduate program at local universities.
- Engage advisors to evoke marketing strategy including sponsorship arrangements.
- Launch social media campaign with key influencers.
- Establish donation agreement with a charity organisation.
- Investigate mining pool options with the ability to split payments to charity and miner.
- Review community feedback and respond with adjustments accordingly.
- Engage advisors throughout the year to ensure marketing strategy is adjusted as needed.
- Discuss exchange launch date with popular exchanges.
2019 - 2020
- Increase marketing to targeted areas and expand to include additional regions.
- Increase sponsorship arrangements.
- Deliver on the commitment to the charity organisation.
- Review ASIC mining and the likelihood of ASIC mining on Lyra2REv2 and respond accordingly.
- Review graduate program developments and implement suitable changes.
- Increase exchange listings.
- Engage with Tap & Go Payment system providers such as Korea Pay Services (KPS).
- Engage with local regulators to ensure the continued success of cryptocurrency.
- Review community feedback and respond with adjustments.
- Engage advisors throughout the year to ensure marketing strategy is adjusted as needed.
- Obtain a listing on main Korean exchange.
2021+
- Increase marketing and sponsorship arrangements.
- Deliver on the commitment to the charity organisation.
- Review ASIC mining and the likelihood of ASIC mining on Lyra2REv2 and respond accordingly.
- Gain mainstream adoption as a payment system in Korea and expand payment system globally.
- Review graduate program developments and implement suitable changes.
- Continue relationship with local regulators to ensure the continued success of cryptocurrency.
- Review community feedback and respond with adjustments.
- Continual engagement with advisors throughout the year to ensure marketing strategy is adjusted as needed.
- Support for Ledger Nano and Trezor.
Coin Details
- Lyra2REv2 algorithm
- 1.5 minute block targets
- subsidy halves in 1,225,000 blocks (~3 years)
- 50 coins per block
- DigiShield difficulty algorithm
- 100,000,000 coins available for mining
- 20,000,000 founder pre-mined coins
- 2,500,000 pre-mined coins allocated to network growth and maintenance, marketing and exchanges.
- 122,500,000 Total Coins
- Ticker symbol HANA
Lyra2REv2 Algorithm
With the rise of ASIC(Application Specific Integrated Circuit) mining, standard mining equipment can no longer compete with specially designed ASIC miners. Lyra2REv2 is designed to defend miners from this unfair competition. The algorithm is designed to be strictly sequential which allows a defence Scrypt-Adaptive-N Capable ASICs. Lyra2REv2 algorithm favours GPUs over CPUs. Lyra2REv2 consists of a series of hash functions: BLAKE, Keccak, CubeHash, Lyra2, Skein and Blue Midnight Wish. Using Lyra2 enables us to adjust the memory usage for mining along with adjusting a time cost, which allows us to stay ahead of development of ASIC. Support the Hanacoin project and earn Hanacoin by mining.
Dark Gravity Wave
Dark Gravity Wave (DGW) is an open source difficulty adjusting algorithm for Bitcoin-based cryptocurrencies. Evan Duffield authored DGW as a response to a time-warp exploit found in Kimoto's Gravity Well. In concept, DGW is similar to Kimoto Gravity Well, adjusting the difficulty levels every block (instead of every 2016 blocks like Bitcoin) by using statistical data of the last blocks found. This allows block issuing times to remain consistent despite high fluctuations in hash power, however, it doesn't suffer from the time-warp exploit. Version 3.0 was implemented on May 14 of 2014 to further improve difficulty re-targeting with smoother transitions. It also fixes issues with various architectures that had different levels of floating-point accuracy through the use of integers.