Topic: [ANN] ORA :: NXT 'monetary system' currency - page 5. (Read 181197 times)

Ora is the project, Kora is the founder. Initially the project was called Kora then we dropped the name and choose Ora.

What the difference between ora and kora, it's makes people think about qora.

Will be testing this soon, i am also thinking opening a chat in Nxtty for Ora, what do you think?

Yes, it's great news & very exciting

This is a great opportunity to grow our community, as most NXT'ers will want to see the first batch of MS currencies do well. If we stay committed to our common sense approach that puts community & 'fairness' (whatever that means) front & centre, then even in a crowded market place during difficult times with the bear market, we can still cut through and be seen for what we are trying to do.

Slow & steady, with 'values'

https://nxtforum.org/nrs-releases/nrs-v1-4-0e/msg140998/#msg140998

The long awaited 1.4 release is here

i am talking to a few already.. It might be a long way to go / wants to see the MS first before deciding on anything. So yeah.

Regarding Mark's suggestion, i think we are there 90%, we will decide that asap and let everyone know what will be the new config. for ORA new distribution.

@th4o, thanks for the ideas and input!! At this point in time it's really appreciated, more than I can say

We're working on a final set of 'numbers' for this idea that coinsolidation suggested, but the main thing we need at the moment IMO is people joining the discussion, and all who do have my sincere gratitude

Then the task is finding the first couple of coins to join ORA - any ideas?

Also, lead dev ...


Road is long, but we'll get to somewhere 'interesting' eventually

With the new model, premine should no longer be a question, as in, the original Ora stakeholder will only be entitled to a certain percentage from the total coin including the 4 of us. It is like Staking, you stake a new project and give them equivalent coins to the number of coins they have. The question is the issuer account will be holding the majority of the coins, which we can't help it at the moment. Multisig would help that and i support the multisig as well.

The same properties but not sure about the mintable.

BTW: The documentation got updated: https://bitbucket.org/JeanLucPicard/nxt/issue/205/monetary-system-documenation

Let´s discuss the ORA currency properties. I´m thinking of the following:


To be able to exchange the currency to NXT and maybe even other currencies later is a must have. Controllable, Reservable, Claimable aren´t any features for ORA, as all stakes are distributed initially. Shuffling will be one of the big features in my eyes.
For the Mining feature there must be minimal and maximal difficulty values. There will be little to no miners at the beginning, so the diff shouldn´t be too low?? How many units should be allocated to mining, if any?
What´s your opinion on all this?


Of course the final setup should be tested completely on NXT testnet once 1.4e is ready, as it isn´t possible to change something after issuing ORA.

Yes, I did already noticed the mining feature. This will be the only way to create new ORA units. With this feature people recognizing ORA later will still have a chance to get their stake. I´ve never mined a single coin, but I´m a supporter of having some PoW integration into ORA, as there are so many miners with specialised equipment.


According to the development roadmap multisig won´t be implemented soon, I don´t even think it will be released inside the first half of the next year.
I would recommend to distribute at least ~90% as soon as possible. It´s analog to altcoins with a high premine, most people hearing of them the first time aren´t interested because of this issue.

Thanks Mark! I agree, we need to start reaching out to coin communities with this idea, especially ones where the community was reasonably 'together' for an extended period of time.

@everyone reading, please make suggestions on coins you think might be suitable to 'burn' into ORA. There's no rules here, so if you want to get pro-active and post about this new direction for ORA in other coin threads, then go for it! There are so many alt coins around now that it's unlikely any single person has a knowledge of all the possible coin communities that might be open to joining ORA, so we really need INPUT and suggestions from everyone. My only request is that we show respect in other threads, and don't get overly spammy.

@th4o, I agree that it's a community goal to draw down the treasury funds asap, but in saying that I think we still have to take sufficient time to 'execute' the distributions without making too many mistakes, and there are ways to mitigate the obvious downside of having large amounts of funds centralised. NXT will have multi-sig implemented soon (I think), and once that's in place we can use a similar process to the SuperNET with multiple treasurers needing to sign off on any distributions from the community funds.

It obviously wont sit well with everyone, and that concern 'in principle' (i.e. centralisation is dangerous) is well founded IMO, and that helps to keep everyone on their game. I would like to say that our two community treasurers (Darkhorse & fragORA) are doing a magnificant job, and both have my full support. Darkhorse in particular has established himself as a trusted and respected member of the NXT community, and as he is currently in control of the majority of ORA's community funds, that should give us ALL a good measure of confidence, but yes, it'll be a good day when the bulk of the coins are mostly distributed with the remainder held in mult-sig accounts controlled by multiple people.