Woodcoin

Woodcoin, or Logarithmic Bitcoin, is a decentralized, non-premined, mineable, proof-of-work global public currency. The unit of exchange is LOG, and it began in October 2014. Woodcoin was created to solve a problem which exists with the supply economics of many public coins. Public decentralized coins are Mineable. This is what makes them decentralized. Mining occurs with a reward schedule or a monetary policy. The reward schedule often drops too quickly (like Bitcoin and Litecoin) or too slowly (like Dogecoin and Ethereum). Woodcoin’s reward decrease is a harmonic series, which more closely models renewable resources rather than non-renewable. This means that while the mining reward is always bigger today than it will be tomorrow, there will still always be an incentive to secure the network tomorrow, even with low transaction fees. The logarithmic money supply curve is designed for stability and longevity, with the longest reward schedule of any other cryptocurrency. Half the LOGs will be released in the first 200 years, instead of the first 4 years (Bitcoin). However, every block is worth less than the preceding one - so earlier adopters are always rewarded and the supply will never rise above 28.5 million LOG. The woodcoin system leads to the least premined, or most fair distribution, meaning that users are on a more equal footing than any other coin.