Woodcoin Whitepaper

Abstract

We outline here the design considerations and implementation of woodcoin, in particular those
which separate it from other cryptocurrencies. Woodcoin is a cryptocurrency very much like
bitcoin. However the design of bitcoin explicitly models a non-renewable resource: gold. For
woodcoin we more closely model a sustainable resource. In particular woodcoin avoids the time
asymmetries of the bitcoin release model, maximizing the incentive to participate and the longevity
of the coin at the same time. Our solution is logarithmic growth of the money supply. In addition,
we outline the design considerations behind two other changes to the core protocol: mining with the
Skein hash function and securing digital ownership with the X9_prime256v1 curve using ECDSA.

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Woodcoin Whitepaper

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