infinex coin

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  • Sunday, July 1, 2018
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  • ariewayq
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  •  Infinex is a digital cryptocurrency based on Dash v0.12.2 and Bitcoin
    core v0.15.
    It runs on a hybrid model of “Proof-of-Work” (POW) for
    chain continuation and a “Masternode” network for an always available
    In this whitepaper, we will document the commercial,
    technological and financial details of the project.

    Infinex Network

    The Infinex network’s primary differentiation is its application layer that leverages the Masternode network. This application layer runs distributed public ledger  transactions  as  well as makes use of  the Masternodes’ processing capabilities to run applications off-chain on its data layer and data storage layer.

    Infinex Distribution

    In order to incentivise the service providers of the Infinex network, Infinex will issue a hard cap of maximum coins of 26,280,000 over 10 years.By keeping the supply small, it will maintain inflationary pressure as network usage increases over time.

    Block Time
    The Infinex  block time is  90 seconds,  which is a lot faster than Bitcoin’s implementati on and   therefore would   have more   transactions confirmed in a shorter time frame.

    The Block Rewards are structured as such :-
    •  Block 1 (Premine)
    • Block 2 - 4,800
    • Block 4,801 - 350,400
    • Block 350,401 - 700,800
    • Block 700,801 - 1,051,200
    • Block 1,051,201 - 1,401,600
    • Block 1,401,601 - 1,752,000
    • Block 1,752,001 - 3,504,000
    • Year 10 & beyond
    1. 40,000 coins
    2. 11 Coins (Miner 10, Founder 1)
    3. 11 Coins (Miner 5, Masternodes 5, Founder 1) ~ Year 1
    4. 10 Coins (Miner 4, Masternodes 5, Founder 1) ~ Year 2
    5. 9 Coins (Miner 3, Masternodes 5, Founder 1) ~ Year 3
    6. 8 Coins (Miner 2, Masternodes 5, Founder 1) ~ Year 4
    7. 7 Coins (Miner 1, Masternodes 5, Founder 1) ~ Year 5
    8. 6 Coins (Miner 1, Masternodes 5, Founder 1) ~ Year 6

     Miner and Masternode rewards through transaction fees and network income (TBA) Premine Coins (only 0.1522% of total supply) are fully allocated for airdrop, bounty programs, exchange listing fees and other promotional campaigns. Founder rewards will be used to fund further development and improvement of the Infinex network. 

    Proof of WorkInfinex adopts the Lyra2Z algorithm, which is a highly efficient algorithm that consumes very little power compared to Bitcoin and other majority cryptocurrencies. It is also ASIC-resistant, which lowers the risk of centralization. Miners are rewarded through transaction fees and new coins minted on the network.

    InfiniLoopInfinex has introduced InfiniLoop for difficulty retargeting, which ensures chain security, stability and smooth flow. How this works is that the difficulty is retargeted every block. InfiniLoop gives a faster calculation by reducing the load on the client system. It works through the following logical steps

    * Calculates blocks that should be generated over the period of 1 hour
    (40 blocks for Infinex).
    *   Reads   through   the   past   40   blocks,   get   the   actual   difficulty   that   is
    applied onto each block.
    *   Sums   up   the   difficulty   of   all   40   blocks   &   divides   by   40   to   get   the
    average difficulty.
    * Calculates actual time taken to generate the past 40 blocks.
    *   If   the   actual   time   taken   is   longer   than   1   hour,   the   difficulty   will   be
    decreased (lowest difficulty cap at 50% of previous 40 blocks’ average
    *   If   the   actual   time   taken   is   less   than   1   hour,   the   difficulty   will   be
    increased   (highest   difficulty   cap   at   x2   of   previous   40   blocks   average

    MasternodesIn the Bitcoin network, full nodes verify transactions and record them in the blockchain. In the Infinex network, Masternodes are also full nodes, except that they provide a level of service to the network and require collateral to participate. This collateral is safe while the Masternode is active and is never forfeited. This allows Masternode owners to provide a service to the network and earn rewards. To run a Masternode, the node must put up collateral of 1,000 IFX. When active, nodes provide services to clients on the network and in return are rewarded with IFX coins. Masternode rewards are paid from a pool and this pool gets proportionally bigger each year.

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