The Dimecoin Database

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Will there be a coin burn?

We put our best effort into covering all topics related to Dimecoin. Each section will cover a different category.

REMINDER: This documentation is always evolving. If you have not been here for a while, perhaps check again. Things may have been added or updated since your last visit!

Coin Burn

Whose coins would we burn? They are in circulation. But, you are more than welcome to volunteer yours if you wish 🙂

7HcQKrm7Xh9RaxGvcr1zcjZiBcVRe9DQRM

This burn address was created using our DimecoinJ library — here is the proof:

import com.google.bitcoin.core.Address;
import com.google.bitcoin.core.Utils;
import com.google.bitcoin.params.MainNetParams;

class BurnAddress {
public static void main(String[] args) {
byte[] pub = Utils.sha256hash160(new byte[]{0x00});
Address address = new Address(MainNetParams.get(), pub);
System.out.print(address); // 7HcQKrm7Xh9RaxGvcr1zcjZiBcVRe9DQRM
}
}

The public key 0x00 cannot be derived from any valid private key, and as such makes it an un-spendable address.

Supply

A large supply is beneficial to what we are trying to achieve in our use case as a payment solution (volatility, accessibility, etc).

Additionally, total supply and circulating supply are two different things. Every currency in existence, whether traditional fiat or crypto, suffers from a percentage that is lost yearly. Chain analysis has indicated that anywhere from 20-35% of the Dimecoin supply has been lost for good due to lost keys/wallets, hacked exchanges, and other events which lead to coins being lost forever.

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