- 1 How much MCM will be mined on the Mochimo blockchain?
- 2 How are the premined coins distributed?
- 3 What is the difference between Mochimo and Adequate Systems?
- 4 Will there be an ICO or other investment opportunity for Mochimo?
- 5 Do you have a wallet?
- 6 Can the Mochimo development team sell their MCM at will?
- 7 How is Mochimo quantum resistant?
- 8 How long does it take to set up a Mochimo mining node?
How much MCM will be mined on the Mochimo blockchain?
Maximum supply: 76,533,882
Mineable coins: 71,776,816 (93.8%)
Mining algorithm: Peach Algorithm – PoW
Difficulty adjustment: Every Block
Target block time: 337.5 Seconds
Genesis block: June 25th, 2018
Network TX fee: .0000005 MCM (fixed)
Starting reward: 5.0 MCM / Block
Per block reward increment, from inception through block 373,760, or 4 Years: .00015 MCM
Max reward (block 373,760): 59.17 MCM
Per block reward decrement from block 373,760 through block 2,097,152, or 22 years: .000028488 MCM
Final reward on block 2,097,153: 5 MCM
Total Mining Duration: ~22 years
Total premine: 6.34% (4.76M MCM)
Dev team compensation premine: 4.18% (3.2M MCM)
Other premine (managed by the Mochimo Foundation): 2.16% (1.56M MCM)
Genesis block: June 25th, 2018
How are the premined coins distributed?
The breakdown of the initial distribution of MCM is as follows:
Mining: ~71.8 million MCM are available for mining enthusiasts for the entire lifetime of the coin’s mining phase, with mining rewards that gradually increase every block for the first four years of the project.
Mochimo development team: 3.2 Million MCM. As the Mochimo development team has spent a couple of years creating a cryptocurrency platform that solves almost every major issue with Bitcoin to date, they are collecting a fee in MCM for that work. The fee equals 4.18% of the available coins on the network. The only value any member of the Mochimo Development Team receives is based on the long-term valuation of our cryptocurrency and the disruptive tech that powers it. Simply put, we believe in it.
Other premine: 1.56 million MCM will be set aside to be managed by the Mochimo Foundation for marketing costs, bounties, and ongoing support of the network.
What is the difference between Mochimo and Adequate Systems?
The intellectual property (IP) behind the Mochimo Cryptocurrency Engine and Mochimo coin is owned by Adequate Systems, LLC, a blockchain-as-a-service company established by Mochimo’s Founder and Lead Architect. Adequate Systems retains the right to license the various technologies in part or in whole to others who have need or interest in implementing our -insert your favorite buzzword- technology. The Mochimo token and blockchain is the flagship product of Adequate Systems, LLC, the software company that created the cryptocurrency engine. The Mochimo Cryptocurrency Engine is a collection of flexible protocols that can be used as the basis for the creation of fast, scalable blockchain-based services. Various modules can be introduced on Mochimo to support either private or public chains and these features will then be available to any currency or blockchain based on the Mochimo Cryptocurrency Engine.
Will there be an ICO or other investment opportunity for Mochimo?
No, Mochimo is well beyond the need for an ICO. ICOs are typically a way to float ideas to the community and provide funding toward developing a dream. Mochimo is a fully formed and functional product; we are beyond dreaming and we are busy delivering. Our functioning transaction network is delivering extremely fast, secure, and private transactions right now. The easiest thing, of course, is to set up a node on your laptop and mine it.
Do you have a wallet?
Yes, we have a GUI wallet called "Mojo" in beta testing now. There is also a command-line wallet included with the mining software distribution.
Can the Mochimo development team sell their MCM at will?
Per their individual compensation contracts, the Dev Team may sell up to 5% of their holdings per month. As part of their participation on the Dev Team, each member has agreed to publish their intent to sell and quantity to be sold on the mochimo.org homepage with 30 days notice.
How is Mochimo quantum resistant?
We checked out the algorithms that were peer reviewed and acknowledged by the EU backed Quantum Research group PQCRYPTO and chose the WOTS+ algorithm. We then wrote and vetted our quantum code with the algorithm’s originator, Andreas Hülsing. The penalty of adopting quantum signatures is their size, but we’ve already solved that problem with our ChainCrunch™ technology.
How long does it take to set up a Mochimo mining node?
A minute or two. Seriously. That includes downloading the blockchain, which only takes up 2GB of disk space on your machine. Yes, our blocks are that compact and you only need to maintain the equivalent of two days worth of blockchain thanks to our ChainCrunch™ technology.