We believe that the best ideas are discovered when many voices are heard. We desire our community to be a vocal group of differing opinions where the best ideas can float to the top and be considered. We will remain open and receptive to differing ideas and be prepared to change even fundamental concepts in this project in response to those ideas and proposals.
A key component of the project is fostering a development-oriented community. By setting aside coins from the block reward during the first year, we can offer bounties to give to community members for work they do.
This has already borne fruit with the development of the GPL-licensed ccminer for X21S, as well as improved compilation code, algorithm work, explorer code, an android wallet and website development.
We feel that the developer fund will continue to be a valuable tool to motivate the members of the community to invest their time and energy into this project during its early life.
Ritocoin is a community project without means to pay for exchange listings. We offer a program where exchanges can list Ritocoin for free as long as they communicate with us on discord and we see that the community supports the exchange.
Ritocoin is anti-ASIC, anti-FPGA and anti-NiceHash, and is committed to remaining a coin that is always available for mining by cryptocurrency hobbyists. We designed our X21S algorithm to be mined by GPUs only and we will further develop our hashing algorithm as advancements are made by the opposing forces.
The cornerstone feature of our coin at launch is the new X21S algorithm, inspired by X22i and X16S. The hashing algorithm begins with 16 algorithms shuffled and hashed in the manner prescribed by X16S, followed by 5 additional hashing algorithms: haval256, tiger, lyra2, gost512, and sha256.
The inclusion of lyra2 brings numerous advantages, making parallelization of the algorithm practically impossible, with each step relying on the previous step having already been computed. It is a “friendly” algorithm that makes GPUs produce much less heat and uses less electricity during mining.
Ritocoin is an experimental digital currency that enables instant payments to anyone, anywhere in the world. Ritocoin uses peer-to-peer technology to operate with no central authority. Managing transactions and issuing money are carried out collectively by the network.
There are plenty of ways to creating a secure wallet from paper to usb encryption. Please refer to our Wiki page for further details.
Scotty is currently the lead developer for Ritocoin. He previously contributed a web wallet for Trezor owners and a Ritocoin asset explorer.
dr-algo is our resident math wizard and experienced C++ developer.