Libertycoin (XLB) was launchedon May 9th with hopes to “liberate”users by providing some egalitarian offerings and features to sweetenthe deal for early adopters.
Libertycoin is based on powerful algorithms from 3 othercurrencies: Zerocoin, Peercoin and Darkcoin, making it one of the most sophisticatedcoins to date.
This new altcoin, whose source code is available here,was rolled out with no premine, no instamine, and no IPCO, to ensure that thelaunch is as fair as it gets. Additionally, the new coin employs an X11 hashingalgorithm, which further levels the playing field by making scrypt-ASICsuseless for mining XLB, which will be explained further below.
Libertycoin is a Proof-of-Stake (PoS) coin that can be mined forone week only based on the Proof-of-Work (PoW) principle using the X11 hashingalgorithm. Offering a short PoW mining time-window has proven in the past to bean effective way of achieving a more uniform distribution.
Technical specifications (XLB)
Algorithm: X11 – 100% proof of stake
Block Times: 1 minute
POS interest: 1% per year
Min stake time: 8 hours