Shaicoin

ShaiHive Mining Algorithm

Shaicoin is designed to bring back the essence of decentralized mining that Satoshi envisioned. As a Bitcoin fork, Shaicoin leverages the ShaiHive mining algorithm, which reintroduces the original CPU mining code from Bitcoin Core v0.12.0, modified and upgraded.

Our innovative algorithm adheres to the "one CPU, one vote" philosophy, allowing individuals with standard computing resources to participate effectively in the network, reducing reliance on specialized hardware. By transforming the mining process into a lottery system using the Verifiable Delay Function (VDF), smaller hash rate CPUs have a fair chance to solve the puzzle and create a block.

Centralized Mining Pools and P2Pool

Shaicoin can benefit from decentralized mining pools like P2Pool, originally built for Bitcoin. P2Pool enables miners to pool resources while maintaining network decentralization.

In addition, centralized mining pools for Shaicoin are also coming soon. These pools will allow miners to pool resources in a more centralized manner while preserving network security.

P2Pool for Shaicoin is coming soon, ensuring more consistent payouts and equitable resource distribution among miners.

Honey Bees and Hamiltonian Graphs

Did you know that honey bees naturally use concepts similar to Hamiltonian graphs in their daily foraging? When honey bees leave their hive to gather nectar, they must visit multiple flowers efficiently, reducing the energy they expend during their journey. This mirrors the idea behind a Hamiltonian path, where the goal is to visit every vertex (flower) exactly once and return to the starting point (the hive).

The problem honey bees solve is very similar to the traveling salesman problem, where they must find the most efficient path to visit multiple locations. In the same way, Hamiltonian graphs in computational mathematics deal with optimizing paths across a graph where each node is visited exactly once.

This natural optimization used by bees is reflected in the way Shaicoin's network operates. Just like the bees, the network must optimize the distribution of resources and computational power to ensure fairness and efficiency across nodes.

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Block Time

Shaicoin has a target block time of 2 minutes.

Total Supply

After 4 years, the total supply of Shaicoin will be approximately 5,775,646 SHA.

Mining Emission

5,354,956 SHA will be naturally emitted through mining over the 4-year period. Then tail emission kicks in at 0.1 SHA per block.

Community Incentives and Repayment

An additional 420,690 SHA has been allocated to a community wallet to support network growth and development. Due to an early issue with the chain, a restart was necessary, and miners who contributed during this period were compensated for their work.

The remaining funds from this wallet will be used to grow the community through various initiatives, including marketing efforts and a custom-made Discord faucet to further engage and reward users.