in infinex •  last year  (edited)

 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 network. 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 TimeThe  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 Work Infinex   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.
InfiniLoop Infinex 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 difficulty).*   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 difficulty)
Masternodes In   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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