& Wood Enough For All
Woodcoin is the first publicly issued currency with a logarithmically growing money supply.
- Woodcoin was created to solve a problem which exists with the supply economics of many public coins: they have a reward schedule which either drops too quickly (like Bitcoin and Litecoin) or too slowly (like Dogecoin and Etherium).
- What will happen when Bitcoin's reward becomes very small? Users will flee to other coins due to large fees or poor security. Woodcoin’s reward decrease is a harmonic series, which more closely models renewable resources than nonrenewable ones.
- The logarithmic money supply curve is designed for stability and longevity, with the longest reward schedule of any other cryptocurrency. Half the LOGs wll be released in the first 200 years, instead of the first 4 years (BTC). However, every block is worth less than the preceding one - so ealier adopters are always rewarded.
- Woodcoin features solid crypography in proof of work function (#1 in Double Skein hash) and in digital signature keypairs (X9_62_prime256v1).
Here is a plot of the Daily rewards comparing BTC released per day to LOG released per day for the next 45 years. For more on the economics of a logarithmically increasing money supply, read the whitepaper.