The earthcoin subreddit has been buzzing! (relatively speaking that is)
One of the posts is this article.This article by no means is new, but it has been reposted, and I thought in light of current events the perspective of this article needs to be updated. In the article, hazzard asserts that earthcoin should be avoided due to its 2% premine and because its cyclical variations in block rewards allowed it to be instamined as well. The earthcoin development team,however, has abandoned the coin, either first selling their coins or allowing them to simply sit idle. Thus, it is likely those pre and instamined coins impact has already been felt and will not impact the coin further. I would assert, either way it doesn't matter all that much, with earthcoin trading at $0.000011 USD that premine comes out to a whooping $2970, so all things considered, it is not much. Maybe that is why the development team left :P.Perhaps if the coin drastically increased in price it could theoretically be a concern.
Also around the same time a link to a earthcoin “game” was posted. This however was not a game at all, but rather a ponzi scheme. I reported the post and I don’t see it up anymore.
I don’t think I gave eathcoin specs last time, but here are some ( from http://getearthcoin.com/technical-specifications):
60 seconds block target
Diff retargets each block
Total coins will be 13.5 billion coins
5 confirmations for transaction
50 confirmations for minted blocks
Support transaction message
Normal block on average 10000 coins per block, varies seasonly
The block payout will be halved every year, minimum payout 1 coin per block
The default ports are 15677 (Connect) and 15678 (RPC)
Note: Earthcoin uses a Scrypt mining algorithm
Thanks for reading, and remember, To the Earth!