ProtoShares is an altcoin that will also be used to own BitShares before they are launched. This is set to be a CPU only coin that is GPU and ASIC resistant. Every ProtoShare held will be awarded one BitShare upon launch. For more information about BitShares, you can view the whitepaper HERE or view the video below:

ProtoShares uses a new Momentum Proof of Work (POW) algorithm that is designed to be GPU and ASIC resistant.

http://invictus-innovations.com/s/MomentumProofOfWork.pdf

There’s a $5000 bounty for anyone who can prove it is vulnerable to GPUs or ASICs.

http://bitsharestalk.org/index.php?topic=22.0

Backing

As well as being an altcoin, ProtoShares is a way to own BitShares before they are launched. When BitShares is launched, its genesis block will award one BitShare for every ProtoShare held.

Web page

http://invictus-innovations.com/protoshares

Forums: http://bitsharestalk.org/index.php?board=1.0

Specifications

POW Hash: Momentum (2^26 / 2^50) with SHA512 Generation

Block target: 5 minutes

Difficulty Retargeting: 1 Week

Port: 3888

Codebase: Bitcoin 0.8.5

No premine.

Block reward: 50 PTS, 5% reduction every week

Total coins: Around 2 million, with 1% inflation after 2 years

Start time:

5th November 2013 08:08:08 GMT

Github source (Genesis Block Not Included Yet)

https://github.com/InvictusInnovations/ProtoShares

Download links

TBA

Windows installation

Extract the contents of the zip file

Double click protoshares-qt.exe

Mining

In the Settings menu, you can choose to mine 1, 2, or 3 processes.

You can also use the debug console to start mining.

setgenerate true 1

setgenerate true 2

setgenerate true 3

Note there is a 3 process maximum because of memory limitations on the win32 client. You can run a second or third instance of the program if you want to try running more processes.