Topic: [ANN] PANGEM Autonomous Self-regulating stable value Cryptocurrency whitepaper. (Read 436 times)

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Great, I will read all your white paper
Have a nice day for the project

Great, I will read all your white paper

Hello rispensslocis,

Thank you for your comment and encouragement!
We are currently in talks with an ICO outfit and in the process of recruiting blockchain engineers/developers.
However, blockchain engineers/developers are sure in short supply nowadays.

Regards,
Pangem Team

Hello all,


Please find a link to the latest updated white paper:

https://github.com/PANGEM/Lounge/blob/master/PANGEM-Whitepaper-V6.pdf

If you open the pdf with a reader instead of viewing through github you can use the handy bookmarks to go directly to parts of the white paper or return to the table of contents!

If you are using a reader you just have to click on the "titles" at the table of contents or click on "go to table of contents" at the top of the page to return.

A new section has been added and the workings of the cryptoeconomy have been slightly fine-tuned.

Regards,
PANGEM team.

Hello flavininar,

Thank you for your comment and encouragement!

Regards,
PANGEM team.

Bump

Hello all,

I'm thinking of creating a hybrid proof method and would like comments.

I call it Proof of Staked Coins and Hash, POSCH.

What this entails is that Rewards allocated for POS would be split into 2.

So it would be 40% to POS and 60% to POW.

Rewards would be equally distributed among all POS holders.
POW rewards distributed depending on hash rate contribution.

However to be eligible for POW the first prerequisite is to be a Staker.
Being a Staker makes you eligible to do POW for 3 months. So starting from the month your stake is locked and 1 month after.
Since staked amounts are locked and are not usable for the next round due to the overlap, an extra month of eligibility for POW is provided to cover the overlapping month.

However, the hash for POW is also staked. When the average hash rate for the last 120 hours (5 days) is below 50% the original staked hash rate, the POW eligibility is revoked. This is to discourage jumpers and reward stakers.
The staked hash will be calculated as the average hashrate from the first 24 hours when POS and POW are running simultaneously.

I think that by implementing a POW system like Ravencoin or Pigeoncoin would increase its resistance to ASIC.

The aim of having a hybrid system is to reduce possible attacks and to create a more fair distribution of coins.
And by linking POW rewards to a staked hashrate it would mean active participation for miners in the POS system.

The verification functions to be performed by the POS and POW systems is yet to be determined, but I would imagine the POS system would be in charge of the Ledger and the POW system would monitor the reward distribution.

But I'm open to suggestions.

What algorithm would you be using?

If it happens to Cryptonight, we have a small mining farm we could dedicate to the testing.

Hello dkbit98,

If you mean before any pre-ico or ico.
Yes, there will be alpha testing.

Beta testing not so sure, it depends on whether we assume a model like EOS where we would utilise ERC20 tokens that we would later change for our own coins. If we do that then the ERC20 token period will be a beta and field testing period. The plan would then be to have the ability to roll-back to previous states if any problems occur.

We have yet to finish determining whether existing blockchain platforms can be used or if a new platform will have to be created.

Hello pachornbullta,

As an investor you can benefit in 3 ways:

The first 2 ways are the general benefits where you can increase your wealth through minting much like you would through a savings account:
1/ You can stake your coins for minting new coins
2/ You can save your coins for minting new coins

The 3rd way is the most important since the focus is not just on holding coins. This system is geared to produce a healthy volume of trade by also giving incentives to spending.

3/ As an investor, you can liquidate your holdings without the fear of crashing the market.

You can't do that with all current cryptocurrencies because the injection of coins will eat through order books dropping the value.

With PANGEM, the aim is to create a group consensus on the value of the coin thus reducing or eliminating speculation.
If everyone is aware they are rewarded through spending then there is less need to deviate from a value because wealth creation no longer needs to be achieved by buying low, hodling, and selling high.
You can create wealth by spending and so if everyone was selling and buying close to the same value and the velocity of the coin is very high the cryptocurrency is better equipped to handle large injections of coins in the circulating supply.

You can think of cryptocurrency as a river.
There are many small tributaries that feed a river.
But if you build dams on the small tributaries to create reservoirs for electricity production you also block the flow of water (holding).
This will reduce the water level of the river (circulating supply or in this case flowing supply?).

So because the river has gotten smaller you see people building houses closer to the water.
The person who owns one of the dams releases a little bit of water to create electricity from time to time, but now he decides he needs to empty his reservoir because he needs more electricity for a very large project.
The sudden influx of water causes the river to swell destroying the houses that were built closer to the water.

And now everyone is afraid to release their dams because they don't want to destroy houses.

That is the current state of cryptos in the world and comes as a result of cryptos being designed as assets and not a true medium-of-payment.

Do you plan to release any alpha or beta product ?

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I hope that I can get more feedback and first impressions on PANGEM.

Hello funcydacor,

Thank you for your comments! The details are far from perfect but I am happy to see that you can appreciate the fundamentals and see the possibilities.

I actually did my market research after writing my white paper because I didn't want to be influenced by other projects.
And so far I have not seen any other cryptocurrency project that tries to achieve the same thing! So I am also confident of the success of the project.

Regards,
Isaac Hwang.

Bump- for those who have not seen this topic.

Hello Satosha,

Thank you for bringing me to the attention of "Haven Protocol".
I've read through their very short whitepaper and its a very different idea.
As they rightly state it being some sort of offshore store of money based on the USD I am not sure how you consider that project similar to mine and state, "there is no need".

I suppose you would also say that Haven is similar to Bitshares, Fragments, Basecoin, Saga, and all other stable coins?

Haven is a very different concept that is actually novel but if you think about it also may be unnecessary......

Quoting from their whitepaper:
"Bob decides he wants to put 200 of his Haven into offshore storage.
The offshore smart contract determines the current market value of that Haven (in USD for now) based on a weighted average of volume across supported exchanges.
If the current value is $1 USD then the contract will record a value of $200 USD worth of Haven at Bob’s request. The 200 Haven that was sent is then burned and the total money supply decreases. If the price of Haven then moves to $2 USD and Bob decides to access his Offshore Storage, he will be returned 100 Haven (100 * $2 = $200 USD as per original value).
If the opposite occurs and the price of Haven halves to $0.50 then 400 coins will be minted and sent to Bob."

Okay, but why use a smart contract when you can just change back to USD? Or will they use another fiat currency? A basket of fiat? An index? Gold? Whatever they use why not just change into that?

And what if it is the USD that drops in value?


So, how is haven similar to PANGEM?

No need for this. There is already a project called « Haven Protocol » $XHV thats works on something similar. Just join that team or find another idea

https://bitcointalksearch.org/topic/ann-pow-xhv-haven-protocol-untraceable-payments-x-stable-value-storage-2989487

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Exactly!

My whitepaper has more details on how that will be achieved.
Yes, it is true I have to work on this [ANN] topic.

Currently, I only have academic people as advisors and a prospective team of ICO/blockchain developers.
So basically it is only me doing all the footwork right now.
I wrote the original whitepaper a few weeks ago and it is just now that I am coming out with it to get feedback on the crypto community as a whole.

It really is in the earliest stages of development. But I hope to get this thing moving quickly.