I am closing the poll question: Which economic design do you like best for an actual currency?
Result winner is:
Medium | Compromise between Large and Small (uses 3 decimals) ---- 55% of the vote
Second place:
Small | Like Bitcoin (uses 6 decimals) ---- 44% of the vote
Last place with zero votes:
Large | Millions as the casual unit (avoids decimals) ---- 0% of votes
I will mention that killiz had an interesting alternative solution of using 2 decimal places as most of the world is comfortable with this level of decimal usage (as in fiat). We will keep this option in mind, I personally favor it.
Thank you all for participating.
New poll has been added:
Feel free to vote only, however if you want to supply your reasoning with a comment, this is greatly encouraged and appreciated.
Topic: [ANN] APTUM - EVERYBODY’S CRYPTO | White Paper released - page 3. (Read 2088 times)
I recently updated the whitepaper to further improve checkpoints, or states, and reduce the size of the chain (for newly synchronizing people) to a couple megabytes.
Read through the most recent update in here: https://github.com/aptumproject/papers/blob/master/aptum.pdf
This is what true scalability looks like!
A new poll has been added to the telegram group, a poll to determine whether DPoS or PoA (Proof of Activity; PoW+PoS) should be used as our consensus mechanism.
To vote, please comment your preferred choice (DPoS/PoA) or vote in the bullion telegram channel, which can be joined here: https://t.me/joinchat/Huox0UimXQuZyNaupwJp-Q
It's important to note that while you can add your personal reason why you chose a specific algorithm, you don't necessarily have to. It may help others decide in favour of your choice.
Read through the most recent update in here: https://github.com/aptumproject/papers/blob/master/aptum.pdf
This is what true scalability looks like!
A new poll has been added to the telegram group, a poll to determine whether DPoS or PoA (Proof of Activity; PoW+PoS) should be used as our consensus mechanism.
To vote, please comment your preferred choice (DPoS/PoA) or vote in the bullion telegram channel, which can be joined here: https://t.me/joinchat/Huox0UimXQuZyNaupwJp-Q
It's important to note that while you can add your personal reason why you chose a specific algorithm, you don't necessarily have to. It may help others decide in favour of your choice.
Interesting article outlining the detriments (massive energy consumption and carbon dioxide emission) inherent with proof-of-work algorithms such as Bitcoin and Ethereum.
https://www.technologyreview.com/s/613658/bitcoin-mining-may-be-pumping-out-as-much-cosub2-sub-per-year-as-kansas-city/
This is one of the primary reasons we have selected proof-of-stake for the Aptum project. Additional to this, proof-of-stake as approached via our Pure-Proof-of-Stake implementation fosters network security and decentralization by rewarding only active participants with little financial barrier to entry.
https://www.technologyreview.com/s/613658/bitcoin-mining-may-be-pumping-out-as-much-cosub2-sub-per-year-as-kansas-city/
This is one of the primary reasons we have selected proof-of-stake for the Aptum project. Additional to this, proof-of-stake as approached via our Pure-Proof-of-Stake implementation fosters network security and decentralization by rewarding only active participants with little financial barrier to entry.
Closely following this project.
I've just read the whitepaper. Very interesting and exciting proposal
Thank you very much. You might want to bookmark the repository, since this is where future papers and updates will be uploaded to.
White paper link added to OP
The upper number of coins is not important. Just that the last 2 digits are 100th of a full unit, like most currencies.
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
I dont understand.
mXYZ is milli-XYZ -> thousandths.
I know what you mean by "using two digets - not three - not none - two".
The issue is that the emission in atomic units is set right now.
So we emit one million atomic units, and the question is - where to put the digets.
If you want to have two digets, we could either use the same design as before, and emit 10k coins - or we reduce it to 1k.
Reducing it to 1k would make us use a more beautiful number and have 10x smaller emission.
Staying at 10k would have an emission of 22 billion whole coins per year.
Ok then cXYZ
I'm not clever enough to comment on the emissions, but if I had the choice, I wouldn't want them to be pig ugly
Perfect! So you would recommend an emission of 1000 coins per block and the usage of two digets if I understand correctly?
My proposal would be the same thing, but three digets, to allow for higher accuracy (if needed).
Yes, 1000 sounds good. If it is possible to use 2 digits I'd go for that, as most are familiar with using currencies like this.
I'm unsure if there are any other cryptos that only use 2 decimals out there? Maybe Aptum would be the first.
It is possible to use two digits, yes - on the other hand - without changing much, other than adding another digit - we could also use three digits.
The most famous cryptocurreny I know that uses two digits is turtlecoin (#500 on coingecko).
Pro two digits: They would allow for a 10x higher (theoretical) maximum supply (184 trillion).
Con two digits (in contrast to 3): Since it would take already take over 9000 years to reach the supply, we don't need to make that 90'000 (assuming maximum emission).
Hello,
Do You have the bounty?
Do You have the bounty?
That depends, as of right now, there is no marketing campaign set up implying that there is no bounty right now.
However we will shortly, or more precise: within the next two months, release a website. With the release of that site the marketing can officially start, including possible bounties.
Other than that, there is only one thing that is fixed. A faucet that can be used to redeem funds. This will be similar to what Nano (previously RaiBlocks) did. See here: https://medium.com/@DecentRally/raiblocks-is-what-bitcoin-should-have-been-from-the-start-1d91c4c61d2d
This allows us to distribute coins fairly without giving them away for free.
The upper number of coins is not important. Just that the last 2 digits are 100th of a full unit, like most currencies.
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
I dont understand.
mXYZ is milli-XYZ -> thousandths.
I know what you mean by "using two digets - not three - not none - two".
The issue is that the emission in atomic units is set right now.
So we emit one million atomic units, and the question is - where to put the digets.
If you want to have two digets, we could either use the same design as before, and emit 10k coins - or we reduce it to 1k.
Reducing it to 1k would make us use a more beautiful number and have 10x smaller emission.
Staying at 10k would have an emission of 22 billion whole coins per year.
Ok then cXYZ
I'm not clever enough to comment on the emissions, but if I had the choice, I wouldn't want them to be pig ugly
Perfect! So you would recommend an emission of 1000 coins per block and the usage of two digets if I understand correctly?
My proposal would be the same thing, but three digets, to allow for higher accuracy (if needed).
Yes, 1000 sounds good. If it is possible to use 2 digits I'd go for that, as most are familiar with using currencies like this.
I'm unsure if there are any other cryptos that only use 2 decimals out there? Maybe Aptum would be the first.
I've just read the whitepaper. Very interesting and exciting proposal
Hello,
Do You have the bounty?
Do You have the bounty?
The upper number of coins is not important. Just that the last 2 digits are 100th of a full unit, like most currencies.
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
I dont understand.
mXYZ is milli-XYZ -> thousandths.
I know what you mean by "using two digets - not three - not none - two".
The issue is that the emission in atomic units is set right now.
So we emit one million atomic units, and the question is - where to put the digets.
If you want to have two digets, we could either use the same design as before, and emit 10k coins - or we reduce it to 1k.
Reducing it to 1k would make us use a more beautiful number and have 10x smaller emission.
Staying at 10k would have an emission of 22 billion whole coins per year.
Ok then cXYZ
I'm not clever enough to comment on the emissions, but if I had the choice, I wouldn't want them to be pig ugly
Perfect! So you would recommend an emission of 1000 coins per block and the usage of two digets if I understand correctly?
My proposal would be the same thing, but three digets, to allow for higher accuracy (if needed).
The upper number of coins is not important. Just that the last 2 digits are 100th of a full unit, like most currencies.
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
I dont understand.
mXYZ is milli-XYZ -> thousandths.
I know what you mean by "using two digets - not three - not none - two".
The issue is that the emission in atomic units is set right now.
So we emit one million atomic units, and the question is - where to put the digets.
If you want to have two digets, we could either use the same design as before, and emit 10k coins - or we reduce it to 1k.
Reducing it to 1k would make us use a more beautiful number and have 10x smaller emission.
Staying at 10k would have an emission of 22 billion whole coins per year.
Ok then cXYZ
I'm not clever enough to comment on the emissions, but if I had the choice, I wouldn't want them to be pig ugly
The upper number of coins is not important. Just that the last 2 digits are 100th of a full unit, like most currencies.
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
I dont understand.
mXYZ is milli-XYZ -> thousandths.
I know what you mean by "using two digets - not three - not none - two".
The issue is that the emission in atomic units is set right now.
So we emit one million atomic units, and the question is - where to put the digets.
If you want to have two digets, we could either use the same design as before, and emit 10k coins - or we reduce it to 1k.
Reducing it to 1k would make us use a more beautiful number and have 10x smaller emission.
Staying at 10k would have an emission of 22 billion whole coins per year.
The aptum whitepaper is released and can be viewed here: https://github.com/aptumproject/papers/blob/master/aptum.pdf
The upper number of coins is not important. Just that the last 2 digits are 100th of a full unit, like most currencies.
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
I really like that idea Killiz. Everyone is used to using 2 decimal places.
Exactly!
Nobody wants to use fractions of a penny to buy things. No matter how much that penny can buy
100 x mXYX = 1XYZ
Not like bitcoin which is:
10000000 x 1 satoshi = 1 bitcoin
For example bitcoin is 000000.00000000
My proposal is 000000000.00
The last two digits being a 100th of an Aptum
Could you make a currency with a large supply but with only 2 decimal places? For example, 00000000000.00
I really like that idea Killiz. Everyone is used to using 2 decimal places.
Exactly!
Nobody wants to use fractions of a penny to buy things. No matter how much that penny can buy
Could you make a currency with a large supply but with only 2 decimal places? For example, 00000000000.00
I have to ask, do you mean two decimals with 10'000x the normal emission, so that instead of 2.2M coins per year (small supply) 22bln coins per year emitted. Or do you mean that two decimals with 1000x the emission and 10'000x the maximum supply?
Could you make a currency with a large supply but with only 2 decimal places? For example, 00000000000.00
I really like that idea Killiz. Everyone is used to using 2 decimal places.
Could you make a currency with a large supply but with only 2 decimal places? For example, 00000000000.00
Was looking for website but then I saw roadmap that your website will be launched this Aug.
And by the way, are you gonna disclose also your partners with this project?
Yes, our partners will be disclosed.
Sorry, asked this in the wrong thread (bullion thread). Will this coin be a cryptonote? New coin? Or?
Unfortunately it will not be a cryptonote, no. Aptum is a completely new cryptocurrency written from scratch.
Is it anonymous?
The current design is built to be as small and adaptable as possible, to allow for (global) adoption. Since protocols allowing anonymity (such as ring signatures, zk-SNARKS or Zerocoin) require more space on the blockchain, unfortunately we cant implement them right now.
Ann in June, but, Ann will be edited on this place?
I will reserved.
I will reserved.
That is correct, the announcement currently covers nothing but a roadmap for the first two years.
We are currently rewriting the list of innovations to be humanly readable.
Our plans are established internally but have to be reviewed and audited right now, to ensure that our partners agree with it. Additionally we are calculating everything once again so that we don't overshoot our budget nor undershoot our targets.
As you've already noticed, all this information will be made public during this month. Stay tuned!
Was looking for website but then I saw roadmap that your website will be launched this Aug.
And by the way, are you gonna disclose also your partners with this project?
I voted. But whatever majority vote for, is a good indication what people want.
Could you explain a little bit more what these mean? Or be specific as to what the large, medium, and small mean in terms of actual numbers and digits. Like, is it 1B, 1M, and 10M or 100M ...
Could you explain a little bit more what these mean? Or be specific as to what the large, medium, and small mean in terms of actual numbers and digits. Like, is it 1B, 1M, and 10M or 100M ...
Another note on your comment, there is another poll in the bullion community telegram channel. If you want to, you could vote twice by joining here: https://t.me/joinchat/FkBLVEimXQscVn1cetdd4g
Voted as well. But if I may suggest, don't create this project with huge amount of coins.
A large supply is a necessity for a functioning economy. There is a reason all leading currencies have large supplies. For the general user, it's easier to use a currency that allows you to pay in whole units instead of thousandths of a whole unit. Additionally there is some psychological advantage of holding whole coins instead of fractions. Even if the whole coin is worth less, people still like it (better).
Your other question will be answered by elambert.
Ann in June, but, Ann will be edited on this place?
I will reserved.
I will reserved.
That is correct, the announcement currently covers nothing but a roadmap for the first two years.
We are currently rewriting the list of innovations to be humanly readable.
Our plans are established internally but have to be reviewed and audited right now, to ensure that our partners agree with it. Additionally we are calculating everything once again so that we don't overshoot our budget nor undershoot our targets.
As you've already noticed, all this information will be made public during this month. Stay tuned!
Was looking for website but then I saw roadmap that your website will be launched this Aug.
And by the way, are you gonna disclose also your partners with this project?
I voted. But whatever majority vote for, is a good indication what people want.
Could you explain a little bit more what these mean? Or be specific as to what the large, medium, and small mean in terms of actual numbers and digits. Like, is it 1B, 1M, and 10M or 100M ...
Could you explain a little bit more what these mean? Or be specific as to what the large, medium, and small mean in terms of actual numbers and digits. Like, is it 1B, 1M, and 10M or 100M ...
Another note on your comment, there is another poll in the bullion community telegram channel. If you want to, you could vote twice by joining here: https://t.me/joinchat/FkBLVEimXQscVn1cetdd4g
Voted as well. But if I may suggest, don't create this project with huge amount of coins.
I voted. But whatever majority vote for, is a good indication what people want.
Could you explain a little bit more what these mean? Or be specific as to what the large, medium, and small mean in terms of actual numbers and digits. Like, is it 1B, 1M, and 10M or 100M ...
Could you explain a little bit more what these mean? Or be specific as to what the large, medium, and small mean in terms of actual numbers and digits. Like, is it 1B, 1M, and 10M or 100M ...
Another note on your comment, there is another poll in the bullion community telegram channel. If you want to, you could vote twice by joining here: https://t.me/joinchat/FkBLVEimXQscVn1cetdd4g
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