The total supply of Acecoin is 288 million coins. All coins were issued with the creation of the first block in the Acecoin blockchain—the genesis block.
Anti-tokens in the genesis account has a few side effects. Firstly, the genesis account cannot issue transactions, as its balance is negative. An account with a negative balance cannot pay transaction fees. As a result, the private passphrase for the genesis account is free for anyone to use. Secondly, tokens sent to the genesis account are burned, as that account’s negative balance will cancel them out. Several thousand Acecoin tokens have been destroyed this way. Thirdly, Acecoin assets may also be destroyed by transferring them to the genesis account.
A node on the Acecoin network is any device that contributes transactions or block data to the network.
There are two types of nodes: hallmarked and normal. A hallmarked node is a node tagged with an encrypted token from an account’s private key. This token can be decoded to uncover an Acecoin account address and balance associated with a node. This adds a level of accountability and trust. More trust is given to a hallmarked node that has a larger account balance, as abuse from attackers who intend to hallmark nodes in order earn trustworthiness within the network for malicious purposes can be discouraged by this barrier to entry.
Each node can process and broadcast transaction and block information. Blocks are validated as they are received from other nodes. If validation fails, nodes may be temporarily blacklisted to prevent the spread of invalid block data.
Each node features built-in DDOS defense mechanisms that restrict the number of network requests from any peer to 30 per second.
The ledger for Acecoin transactions is built and stored in a linked series of blocks known as a blockchain. This ledger provides a permanent record of past transactions, and establishes the order in which transactions have occurred. A copy of the blockchain is kept on every node on the network, and every account that is unlocked on a node (through the use of the account’s private key) can generate blocks, as long as there is at least one incoming transaction to the account that has been confirmed 1440 times.
In Acecoin, each block contains up to 255 transactions, all prefaced by a 192-byte header that contains identifying parameters. Each transaction in a block is represented by a maximum of 160 bytes, and the maximum block size is 32KB. All blocks contain the following parameters:
- A block version, block height value, and block identifier
- A block timestamp, expressed in seconds since the genesis block
- The ID of the account that generated the block and its public key
- The ID and hash of the previous block
- The number of transactions stored in the block
- The total amount of Acecoin represented by transactions and fees in the block
- Transaction data for all transactions included in the block, including their transaction IDs
- The payload length of the block, and the hash value of the block payload
- The block’s generation signature
- A signature for the entire block
- The base target value and cumulative difficult for the block.