42-coin is extremely rare cryptocurrency with unique deflationary emission model, fair distribution (no ICO, premine or instamine) and both private and public transaction support. It is based on an open source peer-to-peer internet protocol and hybrid Proof-of-Work / Proof-of-Stake block generation methods.
42-coin was introduced in early January of 2014 on bitcointalk.org forum by user named hendo420. His idea was to create a “super rare” coin, with “only 42 coins to be mined”. Denoting the meaning of life, according to Douglas Adams’ The Hitchhiker’s Guide to The Galaxy, the number 42 in this case relates to the number used by 1950s American baseball player, Jackie Robinson. In 1997, Major League Baseball universally retired the use of his number 42 shirt number across all major league teams – a first in the history of the sport – driving the price of Robinson memorabilia through the roof.
At its peak value 42 was traded at the highest rate at 1900.00 BTC per one coin. At that time (13-Jan-2014), only 0.8 coins were in circulation, meaning this was the first crypto coin to exceed one million US dollars with less than 1 whole coin in circulation.
What is remarkable in the history of 42, is that until the spring of 2014 the coin supply was really capped at 42, but on March 17, 2014, the GitHub user sherlockcoin (aka soopy452000) made it unlimited. He was working under KGW implementation and no one noticed this “small change”.
Meanwhile, the number of coins was growing, and the price was falling. On May 29, 2014 hendo420 left the project, he explained this by saying that:
“Hippie Tech’s constant barrage and the constant price drop put me into a deep depression. My doctor prescribed me some medication that kind of helps but he recommended not to continue the activity that was causing me to be depressed/suicidal… I can’t emotionally continue…”
He handed the coin over to soopy452000, which surrendered after one month of work on the project.
On July 2015, Woodcoin developer, funkshelper when reviewing the code, saw that there was nothing, actually, stopping the coin supply from exceeding the apparently, number of 42. He submitted a pull request in order to fix this bug, but it was not merged in time, also there were no updated clients, so most people couldn’t support the chain with limited cap.
On October 26, 2015 hendo420 come back with promise to revive 42 and “get the total coins back under 42 without jeopardizing anyone’s coins”. But after some time, he just closed all 42 threads on bitcointalk.org forum and gone without any explanations…
On June 07, 2016, after more than 7 month of waiting for a revival from hendo420 a new thread of 42-coin was started by another user, Lasergun. After 5 months of voting the community took a decision to return the original idea of limited supply by swapping old coins (84) for new (42) and add Proof-of-Stake as an additional method of transaction confirmation. In addition, the block time was increased from 42 seconds to 7 minutes, as it turned out that fast transactions are not really required in 42. A new blockchain based on Novacoin source code launched on November 12, 2016.
Max money: 42 coins
Transaction confirmation method: PoS+PoW
Transaction type: Public & Private
Number of transaction confirmation: 7
Number of block confirmation: 42
PoS reward: 0% // makes 42 an extremely rare
Min stake age: 42 hours
Max stake age: Unlimited
PoS target spacing: 7 minutes
PoW algo type: Scrypt
PoW reward: 0 coin + tx fees
PoW target spacing: 21 minutes
42-coin - a PoW/PoS based cryptocurrency.
- Max money: 42 coins
- Transaction confirmation method: PoW+POS
- Transaction type: public & private
- Number of transaction confirmation: 7
- Number of block confirmation: 42
- PoW algo type: Scrypt
- PoW reward: 0 coin + tx fees
- PoW target spacing: 21 minutes
- PoS reward: 0 coin & destroy tx fees (for deflation)
- Min stake age: 42 hours
- Max stake age: unlimited
- PoS target spacing: 7 minutes
- Default Listen Port: 4242 (42420 for testnet)
- JSON-RPC Port: 2121 (21210 for testnet)
Developers work in their own trees, then submit pull requests when they think their feature or bug fix is ready.
The patch will be accepted if there is broad consensus that it is a good thing. Developers should expect to rework and resubmit patches if they don't match the project's coding conventions (see coding.txt) or are controversial.
The master branch is regularly built and tested, but is not guaranteed to be completely stable. Tags are regularly created to indicate new official, stable release versions of 42.
Feature branches are created when there are major new features being worked on by several people.
From time to time a pull request will become outdated. If this occurs, and the pull is no longer automatically mergeable; a comment on the pull will be used to issue a warning of closure. The pull will be closed 15 days after the warning if action is not taken by the author. Pull requests closed in this manner will have their corresponding issue labeled 'stagnant'.
Issues with no commits will be given a similar warning, and closed after 15 days from their last activity. Issues closed in this manner will be labeled 'stale'.