What the Duck: CryptoNote-inspired duckNote XDN
duckNote XDN is a freshly appeared mysterious cryptocurrency, based on CryptoNote technology and blowing the mind with its website.
duckNote XDN is a freshly appeared mysterious cryptocurrency, based on CryptoNote technology and blowing the mind with its website. While it looks like a fun project, I have a strong feeling that duckNote is not as simple as it seems.
We had a chance and pleasure to get in touch with one of duckNote main developers.
Cointelegraph: First, who is behind the duck?
dNote: Well, I would say rabbit :) Just a joke. Being serious there is no single duckNote developer. Instead, there is a number of duckNote developer teams with excellent IT knowledge and deep understanding of CryptoNote technology and cryptocurrency phenomenon. Each team is focused on its own project part, there are professional programmers, economists, managers and testers united by one idea, united by duck, but separated in time and space.
CT: When it was launched?
DN: duckNote was launched on May 30 2014, New Moon. Hats off to BCN developers who launched Bytecoin - the very first CryptoNote implementation more than 2 years ago. duckNote is a fork of Bytecoin repository, with some unique features and specifications.
CT: What are duckNote specs?
DN: Total coins: 8,589,869,056; total XDN Block target time: 4 minute block target time, Initial block reward: 320000 XDN
Minimum block: 150 XDN
Block halving interval: 11 000 blocks
CT: Why so strange name? Is there any affiliation with duckduckgo anonymous search engine? Is it a joke?
DN: Scarcely, being short about name – duck is uprising trend. For us, duck is a symbol of freedom and privacy protection, also a duck is a luck and love symbol in Asia region, and we are focused on both Asian and Eastern cryprocurrency markets. And you know, “bucks” is familiar and its time to know about “ducks”. “Bucks- ducks”, “Banknote-Ducknote”, etc ... and memes, memes, memes.
CT: What are duckNote main and unique features?
DN: duckNote is anonymous decentralized ASIC-resistant CPU-efficient cryptocurrency with unique emission curve and smart Economy. It is based on more than 2 years aged CryptoNote technology, implemented and approved by Bytecoin developers in mid 2012. Comparing with BCN, duckNote got different emission logic, network specs and development process.
CT: What is so special about duckNote economy and supply curve?
DN: In short terms duckNote purpose is to provide main XDN amount in circulation after 1 year of mining. duckNote emission curve is unique comparing with any other Bytecoin fork, it is based on Bitcoin logic with halving block reward every 11,000 blocks (about 1 month).
With 320,000 XDN block rewards on first 11,000 blocks height, duckNote will reach 150 XDN minimum block reward approximately after 1 year of mining with about 80% of XDN in circulation. After that moment, reward will always stay 150 XDN until blockchain existence. With maximum 8 589,869,056 duckNote units it will takes more than 77 years to reach that amount.
So, being CPU – efficient Egalitarian Prof of Work cryptocurrency, with fully decentralized network and fair blockchain start, duckNote will have main amount of coins in open market circulation after one year. That makes duckNote cryptocurrency easy usable for real economy needs as well as good investment asset, predictable, based on market and media laws.
CT: What are your plans?
DN: Main thing we are working on is XDN base code and its features, like High Level API and Network improvements. There are lots of thing to do, we are doing our best and always working on “Big commits”. Also our work is focused on GUI interfaces and payment processing modules for popular CMS. Soon community and users will see our progress.
CT: Is there anything you would like to say to our readers?
“Don't concentrate on the finger or you will miss all that heavenly glory”
"If we walk far enough," says Dorothy, "we shall sometime come to someplace.”
The Wonderful Wizard of Oz.
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