What is Keymaker

Understanding Keymaker

Proof of Work

Keymaker relies on the Proof of Work (PoW) consensus mechanism to fortify its blockchain, and it achieves this through the utilization of the Ghostrider algorithm. Within the Keymaker ecosystem, a notable 77.8% of each block reward is designated for miners, recognizing their pivotal role in maintaining network security and functionality.

The Ghostrider algorithm is known for its efficiency and resilience, particularly in resisting ASIC mining, which contributes to the equitable nature of Keymaker's PoW system. This ensures a level playing field for miners with varying hardware capabilities, allowing them to participate and earn rewards commensurate with their contributions.

Smartnodes

Keymaker leverages the concept of smartnodes, a technology derived from Dash, to enhance the functionality and efficiency of its blockchain network. These smartnodes play a pivotal role in ensuring the stability and reliability of the Keymaker ecosystem. As a token of appreciation for their contribution, smartnodes are generously rewarded with 22.2% of the block rewards.

Derived from Dash, a well-established cryptocurrency known for its innovative features, smartnodes bring a layer of sophistication and effectiveness to Keymaker's network. They operate as a distributed network of servers, facilitating instant and secure transactions, in addition to participating in the consensus mechanism of the blockchain.

Burning Mechanism

Keymaker implements a supply-reduction mechanism through its marketplace. This effectively reduces the supply, creating scarcity. Starting at block height 64975 all founders' rewards will be burned to the address "kburnXXXXXXXXXXXXXXXXXXXXXXXXswNF4" which was created by a python script found on github named burn_address_generator.

By employing this strategy, Keymaker not only enhances its cryptocurrency's intrinsic value but also demonstrates its commitment to a sustainable and economically sound ecosystem. Users actively participating in the Keymaker marketplace inadvertently contribute to the creation of a more exclusive digital asset, aligning Keymaker with broader cryptocurrency market trends and appealing investors alike.

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