Kilocoin

Kilocoin also know as KLC is a peer-to-peer cryptocurrency and open source software project released under the MIT/X11 license. Inspired by and technically nearly identical to Litecoin (LTC), Kilocoin creation and transfer is based on an open source protocol and is not managed by any central authority.

Kilocoin has set a limit of 25 Billion kilicoins to ever be in circulation over a period of 10 years’ time with maximum inflationary policy during that time of 10% per annum.

Kilocoin is dedicated to running a clean stateless currency free of crime.

While bitcoin is the gold standard, and litecoin the silver, kilocoin is designed to find its place as the electronic copper — with each coin set initially at .01 per coin. Kilocoin envisions great upside potential from this starting rate reaching the value of one kilo of copper per kilocoin within the decade. However, Kilocoin is in negotiations to acquiring untapped gold reserves in Venezuela in exchange for kilocoins which will in turn give intrinsic value to kilocoins and buying from the same company a patent pending license enabling us to make kilocoins fungible between the web and p2p. Kilocoin according to Crypto Coin News is affiliated with Kilocoin, Inc, which appears to be the first DAC formed in the "Decentralized Anonymous State."

Overview and History

Kilocoin was released via an open-source client on GitHub on March 19, 2014 by Kilocoin, Inc (DAC). It was a fork of the Litecoin-Qt client, differing primarily by having an increased maximum number of coins, different hashing algorithm (scrypt, instead of SHA-256), and a modified GUI. Kilocoin which is based on Litecoin uses scrypt technology in its proof-of-work algorithm. The use of scrypt means that miners cannot use SHA-256 Bitcoin mining equipment, and that dedicated FPGA and ASIC devices used for mining are complicated to create. Compared with other cryptocurrencies Kilocoin has a fast initial coin production schedule: there has been approximately 10 billion mined as at April 2015 Like Bitcoin and Litecoin, Kilocoin functions using public-key cryptography, in which a user generates a pair of cryptographic keys: one public and one private. Only the private key can decode information encrypted with the public key;

Currently kilocoin can be exchanged for other crypto currencies on http://exchange.dasgov.io

Differences from Bitcoin and Litecoin

	Bitcoin	Litecoin	Kilocoin
Coin limit	21 Million	84 Million	25 Billion
Algorithm	SHA-256	Scrypt	Scrypt
Mean block time	10 minutes	2.5 minutes	5 minutes
Difficulty Target	2016 Block	2016 Blocks	288 Blocks
Initial Reward	50 BTC	50 LTC	159 KLC
Current block reward	25 BTC	50 LTC	159 LTC
Block explorer	blockchain.info	block-explorer.com	klc.cryptocoinexplorer.com
Created by	Satoshi Nakamoto	Charles Lee	Kilocoin, Inc (DAC)
Creation date	January 3, 2009	October 7, 2011	Feb 27th, 2014
Coins Mined (as of 8 April 2015)	14,029,116.67	37,984,800	10,013,105,152

See also

• Bitcoin
• Litecoin
• Crypto-anarchism
• Private currency

External links

• Kilocoin Project Website: https://kilocoin.com
• http://klc.cryptocoinexplorer.com
• https://www.cryptocoinsnews.com/bitcoin-enthusiasts-invited-join-decentralized-anonymous-state
• D.A.S exchange - The Opensource Cryptocurrency Exchang Website: http://exchange.dasgov.io
• https://www.facebook.com/pages/Kilocoin/186526401549772
• https://twitter.com/Kilocoin1

Others articles of the Topic Cryptography : Public-key cryptography

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