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Seedcoin





Seedcoin

A digital seedcoin wallet


ISO 4217 code
Not designated. Not recognized as a currency any  Interbank Clearing.
Central bank
The majority of the seedcoin peer-to-peer network regulates transactions and balances.
Date of introduction
30 July 2013
Source
Seedcoin Genesis Block
User(s)
International
Inflation
Limited release
Source
Total SDC  in Circulation
Method
The rate of inflation will be halved every 3 years until there are 1 trillion SDC
Subunit

.001
mSDC (milliseedlet)
.000001
μSDC (microseedlet)
.00000000001
qSDC (quantumseedlet)
Symbol
SDC, 
 


Seedcoin (SDC) is a physically backed digital currency first described in a 2013 paper by pseudonymous developer Tornado T, who called it a seed backed anonymous, peer-to-peer, electronic payments system. Seedcoin creation and transfer is based on an open source encryption protocol and is not managed by any central authority. The creation of new Seedcoins is automated and may be accomplished by servers, called Seed sowers that run on an internet-based network and confirm Seedcoin transactions by adding codes to a decentralized log, which is updated and archived periodically.  Each seedcoin is subdivided into 300 million smaller units called seedlets, defined by twelve decimal places.
Seedcoins can be transferred through a computer or smartphone without an intermediate financial institution. Interested parties can authenticate the ownership of Seedcoin balances by using dedicated servers (the SeedSowers) to authenticate the seedcoin transaction log using a public-key encryption scheme. Each 10-minute portion or "block" of the transaction log also allows for a predetermined number of new seedcoins to be awarded to sowers based on computational data added to the log and confirmed by other sowers. The creation of a new seedcoin is thus a special case of a transaction in which the new seedcoin deemed issued in exchange for solving a computationally intensive encryption problem. The number of newly created seedcoins per period depends on how long the network has been running. Currently, 100 new seedcoins will generated with every 10-minute block. This will be halved to 52 SDC during the year 2025 and halved continuously every 3 years after until a hard limit of 30 trillion seedcoins is reached.
Seedcoin will be accepted in trade by various merchants and individuals in many parts of worlds. A large share of such commercial use is believed to be for farming transactions.  Although Seedcoin was initially promoted as the only solid back digital currency, many commentators will comend seedcoin's stable market value, relatively inflexible supply, and minimal use in trade.