About HDDcoin

Blockchain Description

HDDcoin is an eco-friendly decentralization blockchain based on the Proof of Space and Time (PoST) consensus. It maintains network robustness, in line with Satoshi Nakamoto’s principles.

Miners and Mining in Bitcoin terms is synonymous with Farmers and Farming in HDDcoin terms.

Farming HDDcoin does not consume significant amounts of electricity, and utilizes hard drive space, instead of specialized computing hardware that most Proof of Work (PoW) consensus blockchains have come to demand. Moreover, since electrical energy costs for running hard drives is very minimal, due to this low cost of entry, HDDcoin will remain more decentralized and fair, and thus more secure than any Proof of Stake cryptocurrency.

HDDcoin uses the powerful and secure Chialisp language for Smart Contracts, and supports digital money, global payments and applications.

HDDcoin core values include green cryptocurrency, long term value, building for the future, strength in community, and maintaining a huge team to ensure long term development.

The goal of HDDcoin is to reshape the global financial system through the power of the blockchain technology, powered by thousands of nodes maintained by the community, and with transparency and a commitment to the environment — thereby taking control from any central entity, person or organization, and giving that control back to the community.

Blockchain Origin

HDDcoin is a fork of the Chia Network blockchain. HDDcoin blockchain Mainnet launched on July 8th 2021, and is not affiliated with Chia Network Inc.

One issue we saw with the solution offered by the Chia Network blockchain is the 21 million Chia (XCH) pre-mined from their genesis block, which is a number we believe is far too high. In fact, it would take multiple decades for the rest of the network participants to farm as much XCH as has been pre-farmed by Chia Network Inc. 

We saw this flaw with Chia as an opportunity to implement a much fairer, decentralized Proof of Space and Time (PoST) algorithm based blockchain network, and used Chia Network Inc’s outstanding open source code as our starting point. After conducting a 5-years cost projection analysis for the development, maintenance and marketing operations for the HDDcoin blockchain, we concluded that a 3.5 million pre-farm was a reasonable number for our case.

Blockchain Core Features

Below are the core specifications of the HDDcoin blockchain:

  • Cryptocurrency coin: HDD
  • Lowest coin denomination: Bytes
  • Conversion: 1 HDD = 1,000,000,000,000 Bytes.
  • Blocks per 24 hours target: 4608
  • Farmed rewards per block: 2 HDD
  • Halving period for block rewards: 3 years
  • Pre-farmed amount: 3,500,000 HDD