Brief Product Explanation of Centaur Coin

Centaurcoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Centaurcoin is an open source, global payment network that is fully decentralised without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. Centaurcoin features faster transaction confirmation times and improved storage efficiency than the leading math-based currency.

Technical Explanation - Hows and whys

Open Source Software

Centaurcoin is an open source software project released under the MIT/X11 license which gives you the power to run, modify, and copy the software and to distribute, at your option, modified copies of the software. The software is released in a transparent process that allows for independent verification of binaries and their corresponding source code.

Blockchain

The Centaurcoin blockchain is capable of handling higher transaction volume than Bitcoin. Due to more frequent block generation, the network supports more transactions without a need to modify the software in the future.

As a result, merchants get faster confirmation times, while still having the ability to wait for more confirmations when selling bigger ticket items.

Wallet Encryption

Wallet encryption allows you to secure your wallet, so that you can view transac- tions and your account balance, but are required to enter your password before spending centaurcoins.

This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.

Mining Reward

Miners are currently awarded with 50 new centaurcoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks).

The Centaurcoin network is therefore scheduled to produce 84 million centaur- coins, which is 4 times as many currency units as Bitcoin.

Mining Difficulty

Unlike Bitcoin which adjusts the mining difficulty roughly every 2 weeks, Centaur-coin difficulty rapidly responds to changes in mining rates. This prevents Centaurcoin from the possibility of being instantaneously mined by one or more mining operators and is an essential change from Bitcoin.