Topic: ANN] [ICO] [SUN] | SolarBankers | Bounty program UPDATED - page 5. (Read 23330 times)

You can use your tokens to buy equipment from SolarCoin as well as use it to buy and sell electricity between different solar generating parties. I.e. you generate some power with a lot of solar panels and want to sell abundant energy - you can simply go to this platform and sell it for the tokens. Same goes for buying energy. Costs go down!

How can I actually use the token? I don't understand tokenomy behind this project.

We just launched a new bounty program, which will continue even after the end of the ICO. Here is the link: https://bitcointalksearch.org/topic/ann-solar-bankers-bounty-program-ico-22nd-of-november-2436964

Yeah, ICO is live right now! Visit www.solarbankers.com to participate!

How can you access different people electricity and actually buy it? Aren't big electircity generating companies doing this now?

At what market will you launch your network? I want to try it out.

Love green projects! Go forward with that solar energy! We need more projects in crypto world like this.

How can I trade electricity at your platform? Will it be done automatically? I don't know much about all these processes.

Why do you devote 5% for bounty program? Is it successful?

What a great bonus on pre-ICO! ICO is on right now?

We have heard about solar energy from a long time now however with time we have forgotten the usage of this energy. Solar energy is basically energy derived from sun light which is then used in day to day lives. But with passage of time people have treated electricity to become an expensive product. Therefore to solve this issue came in Solar Bankers which is one of its kind solar energy network.

Solar Bankers ICO is beginning in 8 hours! www.solarbankers.com

Find link to our new bounty program: https://solarbankers.com/2017/10/31/solar-bankers-ico-bounty-programm/

Linux and Android wallet available on our website: www.solarbankers.com

More info about SunCoin's blockchain technology: www.skyledger.net

Solar Bankers is proud to announce that SunCoin sale is now open to everyone, including US and Singaporean residents! Don't miss the opportunity to secure your spot and be part of the future of solar energy!

SunCoin is not an investment-grade security of any kind. The SunCoin is a digital token for participation in a global network of free energy production and exchange and does not confer ownership of a stake in the business. Solar Bankers does not guarantee any profit, but offers instead a set of entrepreneurial opportunities to SunCoin holders to make money from the Sun.

Blockchain Energizer discusses Solar Bankers' ICO and vision:

Our ICO project has been featured in Volume 11 of Blockchain Energizer, a bi-weekly news update published by the international law firm K&L Gates on emerging issues relating to the use of blockchain technology in the energy space. The update was also published in the National Law Review and JD Supra:

https://www.natlawreview.com/article/blockchain-energizer-volume-11-august-24-2017

http://www.jdsupra.com/legalnews/blockchain-energizer-vol-11-57675/

http://www.klgateshub.com/details/?pub=KL-Gates-Blockchain-Energizer---Vol-11-08-24-2017

Vietnamese translation here: https://bitcoingarden.org/forum/index.php?topic=18309

Our latest press release has been distributed to a number of international online publications in different languages. Here are a few examples:

http://www.finanzen.net/nachricht/aktien/das-solarunternehmen-solar-bankers-entwickelt-konzept-fuer-dezentrale-stromversorgung-mit-hilfe-von-blockchain-technologie-foto-5647858

http://www.prnewswire.com/news-releases/solar-bankers-uses-blockchain-technology-to-develop-digitalized-electricity-ecosystems-641393893.html

http://exame.abril.com.br/negocios/releases/solar-bankers-usa-tecnologia-de-blockchain-para-desenvolver-ecossistemas-de-eletricidade-digitalizados/

http://www.ryt9.com/s/anpi/2698785

http://times.hinet.net/news/20445374

Solar Bankers has recently launched its pre-ICO (www.solarbankers.com) and is looking for salespeople interested in getting paid with our token, SunCoin. For each referred sale, you will receive a commission, from 10 to 30% depending on the amount.

Bonus chart:
 - Sales below 5,000 SUN – 10 % Bonus
 - Sales between 5,000 and 20,000 SUN – 20 % Bonus
 - Sales above 20,000 SUN – 30% Bonus

To claim your bonus, contact us via mail at [email protected] before processing the transaction and mention:

- The amount to be paid in BTC/ETH
- The SunCoin Wallet address of the buyer
- Your SunCoin Wallet Address to receive your bonus

Use ‘Solar Bankers Referral Program’ as subject of the e-mail. Claims sent after the transaction will not be valid. By participating as salesperson, you accept SunCoin terms and conditions.

SunCoin is based on the Skyledger blockchain, which makes use of a novel type of consensus algorithm that replaces both Proof of Work (“PoW”) and Proof of Stake (“PoS”). This “distributed” consensus algorithm is a creation of the developers of Skycoin (www.skycoin.net), among whom there are several early programmers of the Bitcoin network.

The stated aim of the developers of the Skyledger blockchain was to correct the major security flaws and “centralizing tendencies” associated with blockchain networks in which consensus is based on PoW or PoS algorithms and coin creation is linked to a mining process. Skyledger is therefore trying to create a cryptocurrency that better fulfills Satoshi’s original vision of a fully decentralized digital currency system.

In doing so, Skyledger technology creates a blockchain network with no mining requirement, fixed supplies of crypto-tokens, 10-second transaction times, and greater security. In a system in which the connection between coin creation and control over the network is severed, crypto-tokens lose their political function and begin to act more like a form of digital property in the straightforward sense.

Proof of Work and the Bitcoin system

It was a fundamental miscalculation in the early programming of Bitcoin that the mining process would produce an economic incentive structure that would promote decentralization. In fact, the link between consensus and hashing power incentivizes the purchase of ever increasing processing capacity to control the consensus network.

The Bitcoin network, for instance, is de facto controlled by three for-profit mining pools which have been able to concentrate a large part of the network’s hashing power on its servers. These pools have begun to act as a cartel, splitting hashing power among each other by agreement. The link between mining and control of the network was already identified by Satoshi as the main non-cryptographic threat to the stability of the network. It allows actors who accumulate sufficient processing power and achieve a majority hash rate to falsify or revert transactions on the network in a 51% attack. Some argue that this vulnerability has become less pressing in an environment where hash power is highly centralized with actors who have invested large sums in the Bitcoin network and depend for their survival on the high value of the coin. Yet the power to influence the network is still highly concentrated, defeating the purpose of a distributed ledger-based cryptocurrency.

The Bitcoin network’s PoW algorithm thus introduces security and monopoly problems by placing power over the network with the actor capable of mobilizing enough economic resources to control the mining process.

This also implies that the operation of the network is both economically and environmentally inefficient. The continuous input of processing power required by the mining process uses up large amounts of electricity, incurring monthly costs in the tens of millions. These costs can only be offset with an exponentially growing influx of new capital along with new users. Only a very small number of well-established coins, like Bitcoin and Ethereum, will be able to attract enough users to achieve such a continual flow. In the case of most other PoW/PoS-based coins, as the developers of Skycoin argue, “the cost of PoW/PoS mining is […] paid for in a lower market valuation as money is bled out of a coin by mining costs until the coin is abandoned.” They further state:

“Right now the Bitcoin economy consists of new users putting their money in and then the money being thrown in a pit and burned in a sacrifice ritual to the mining electricity costs. If the average user had to pay the miners’ electricity cost directly as transaction fees, instead of it being robbed from them through inflation by the creation of new coins, then each Bitcoin transaction would cost more than $50. It would be more expensive than an international bank transfer.”

The centralizing tendency of Proof of Stake

Although Proof of Stake algorithms tackle the security issue of 51% attacks, they are arguably even more vulnerable to centralization than PoW networks. In PoS, the size of network participants’ holdings of the cryptocurrency in the network determines their authority and voting power to implement technical changes in the network. Participants are able to mine an equivalent portion of their stake regardless of processing power.

This principle significantly increases the economic barriers to launching a 51% attack because the financial cost of acquiring the majority of tokens on the network in the open market is very likely to exceed the potential gain. If an attacker ends up as the majority stakeholder in the network, he will suffer most from the impact of the attack on the stability of the network or the external value of the cryptocurrency.

Yet, although raising the barriers to human-led attacks on the network, PoS creates a centralizing impulse which is as strong as, if not stronger than, in the case of PoW. As Joseph Young summarizes in his comparison of the two systems at coinfox.info, “A system where the major stakeholder enjoys extensive control and authority over both technical and economic aspects of the network creates a major monopoly problem.” While in PoW voting on the implementation of technical changes to the network “is divided among miners, developers and other crucial members of the community,” in a PoS system “major stakeholders have a technical ability to make any changes they like without considering the will of the community, businesses, miners and developers. This centralisation of voting power and, essentially, control of the network defeats the purpose of a distributed ledger-based cryptocurrency since it contradicts its entire principle of distributing all elements within the network to avoid the presence of a central authority.”

Obelisk: a distributed consensus algorithm

To tackle this centralization problem, Skyledger technology moves beyond PoW/PoS. It uses a distributed consensus algorithm, called Obelisk, which distributed influence over the network according to a “web of trust”. In essence, every node has a list of other nodes that it subscribes to, and the density of a node’s network of subscribers determines its influence on the network. Each node is assigned a personal blockchain which acts as a “public broadcasting channel” on which all of a node’s actions are visible and publicly recorded. As all consensus decisions and communication occur through the personal blockchains of each node, the community can very easily audit nodes for cheating or collusion. How decisions on the network are made and which nodes influence those decisions is completely transparent.

The public record left by each node’s personal blockchain allows the network to react to defections by severing connections with less trustworthy or malicious nodes, contracting the network to a smaller and denser core of trusted nodes. Hence, in principle, if the community does not trust the nodes representing them or feels that power within the network is too concentrated (or not concentrated enough) the community is able to collectively shift the balance of power in the network by collectively changing their trust relationships in the network. The accountability of nodes to the community and 3rd party audits as well as the transparency of consensus strengthens collective decision-making and thus introduces a highly democratic and decentralizing element to the network.

This system provides for a digital currency system with significantly reduced transaction times, no mining requirement, and greater security

For more information, read our Whitepaper or visit www.skycoin.net.

We further updated the bounty program and included also Newbies. Thank you for your feedback.