|Proof type||X11 PoW/PoS|
|Start date||August 17, 2014|
AmberCoin – the initial cryptocurrency
AmberCoin is one of the initial cryptocurrency, which supports by real assets. It is an example of using Blockchain technology for managing the shares of industrial companies. As a result, amberCoin is a unit share in Amber Trade Ltd that is directly involved in the extraction, processing, as well as for trading of amber.
In fact, It is a real-life example of using Blockchain technology for managing the share of industrial company.
X13 PoW + PoS Algorithm
Maximum number of coins (including POS phase): 49,000,000
Current PoS block recompense: 0.5 this coin going down to 0.1 after block 1 Million
In fact, Block number when POW finishes: 2,000,000
Timing of block (in seconds): 60
Difficulty Retarget: every block
POS interest/ year: 25%
Minimum stake age: 6 hours
Maximum stake age: 30 days
– RPC Port: 31981
– P2P Port: 31982
Hence, amber Trade LTD has made a resolution to appeal investments within a few rounds by offering up to 49% of its shares to all investors as well as to miners. Therefore, innovative Blockchain technology, which is a base of most of the cryptocurrencies, has been selected in order to cope and control investments as well as dividends withdrawal. Henceforth, it is the company’s own coin, which has been created keeping this purpose in focus.
The history of Amber Trade Ltd:
Accordingly, it is is an international holding with its head quarter at London. Similarly, it integrates a range of local companies that are expert in extraction, storage, transport, manufacturing and the sale of amber and stuffs made from amber. Therefore, the company sells amber mined from its own fields in the west of Ukraine.
Current the Trade LTD turnover is 500,000-1,500,000 euro/ monthly.
According to market, 49,000,000 coins = 49% of its Trade shares.
Accordingly, a minimal share that can get a dividend is 0.01% or 10,000 coins.