Woodcoin is Reliable

Unlike many other cryptocurrencies, the WoodCoin mining reward isn’t scheduled to drop quickly, and remains substantial until far in the future.  The mining reward reduces as a harmonic series, so there will still be substantial rewards far into the future.   The WoodCoin Ecosystem will continue to subsidize miners and keep the coin alive – allowing for low-fee transactions and improved network security.

 

Public Cryptocurrency Enables Fair Price Discovery

Download To Any device

Ability to Mine Woodcoin

Store Woodcoin in Your Wallet

Woodcoin is a publicly released cryptocurrency

The auditable ledger open to all is perhaps the most important characteristic of the new public coin era.  Algorithmic release coins like BTC, LTC, and LOG enable all users to verify the planned release of the money supply to miners.  

Logarithmic Coin Release

Woodcoin is the first coin to use a logarithmic coin release. The reward is continually decremented in an harmonic series. The algorithm that controls the creation of units of currency over time should be the first thing every educational site about a coin should present. In that spirit here is the monetary policy of Woodcoin:
From /src/main.cpp:

int64 static GetBlockValue(int nHeight, int64 nFees) {
     int64 nSubsidy = 1000000 * COIN;
     if (nHeight<100) return 1*COIN;
     else return nSubsidy/nHeight + nFees;

}

 

This leads to a total money supply S which increases logarithmically in block height n:
log = natural logarithm
gamma = euler-mascheroni constant
forest = 5187377.51763962 (value of LOG reward suppressed in first 100 blocks)
S = 1000000* ( log n + gamma ) – forest

Proof of Work algorithm: Double Skein

The first consistent network built solely with the skein hash function.  Woodcoin is secured with Skein2 or pure skein as the proof-of-work hash function for miners. Woodcoin uses only Skein512 for proof-of-work, computed twice.  This is indifferent to Satoshi’s choice to use a double sha256 hash to secure the first public coin. Skein is a fast and robust hash function.
Read more about Skein

Elliptic Curve:  P256 / Secp256r1 / Prive256v1

This elliptic curve has more randomness and entropy than the Kobliltz curve and some people believe it is more secure against what could perhaps one day be brute force attacks.   Woodcoin wallets and miners do not use the Secp256k1 libraries.

Read more about P-256