Ecoin is digital money for a digital world

Completing a special type of interactive experience produces an interactive proof of work. An interactive proof of work has a record of user commands, or witness. A replay of the witness in an identical interactive experience validates the record of user commands. A valid witness completes a replay of the experience; a false witness does not. The collection of many valid witnesses determines which ledger receipts are true and prevent double-spends.

An intex is a special type of interactive experience capable of producing an interactive proof of work. For example, an intex can be a level of a computer game. The game produces an interactive proof of work if a player completes the level. An intex can also be, for example, completing a mission in a game, or earning an achievement – anything that can be recorded and replayed to produce and validate a witness.

Many games already include logic that can be adapted to produce interactive proofs of work. The free open-source demo games are simple, but almost any games can be adapted, including complex commercial multiplayer games. The key components are a recorder to record user input in a witness, and a validator to replay the witness to validate it. The recorder is part of the game, and the validator is part of the ledger.

The ledger incorporates all valid interactive proofs of work. There is no waste, no search for a hash that satisfies some criteria of difficulty.

The ledger incorporates all valid interactive proofs of work and each interactive proof earns a reward in Ecoin for the contributor. To make clear, the ledger uses and rewards all valid proofs.

The closest thing to mining is playing a game to produce an interactive proof of work. There is no premine because there is no such thing as mining. There are no mining pools. Each ledger page is analogous to one mining pool in which every contributor of interactive proofs is rewarded.

In the United States of America, there may be legal and tax consequences for an Initial Coin Offering. The Ecoin ledger is not affected by these particular consequences because there is/was no ICO.

Transactions are grouped in pages in the ledger. The target time for closing a ledger page is one second. The future target is near instant.

The ledger is a concise implementation of the blockchain design pattern. The ledger uses linked lists, hash trees, and publicly disclosed public key cryptography methods. The purpose of the ledger is to make use of the abundant work that is produced by playing computer games.