Mineable Fast Cryptocurrency KIITCOIN using SCRYPT Algorithm

KIITCOIN is a peer-to-peer coin that enables fast and near-zero cost payments worldwide. KIITCOIN is an open-source cryptocurrency project. It provides a fully decentralized global payment network. With a secured network, KIITCOIN provides a swift transaction acknowledgement time and more efficient storage than the other currencies. The main challenge for this decentralized system is double-spending, to tackle this we used a peer-to-peer network. All transactions are done on the network, and their timestamps are hashed into the current chain of proof-of-work and these cannot be altered without restarting the chain. In addition to providing proof of the sequence of events witnessed, the longest chain shows that it originated from the most powerful pool of processors. It will be possible to outpace attackers as long as more than half of the CPU power is controlled by nodes not cooperating to attack the network. A minimal structure is required for the network itself. The Mining reward of KIITCOIN is set to 100 coins per block mined. We know that after every 210,000 blocks, bitcoin generation is halved. Similarly, for every 1051200 blocks mined, KIITCOIN generation will be halved. The maximum coin supply will be 1000 million KIITCOIN, roughly 47.5 times more than Bitcoin. With Scrypt proof of work and fast retargeting times, KIITCOIN difficulty will retarget every 3.5 days.