Topic: [ANN][CRW] CROWN (SHA256) | Platform | Governance | Systemnodes | Masternodes | - page 201. (Read 316957 times)

IMHO 10% of the block reward should go to the Dev Fund.  If we want to keep with the metaphor -- it's important to tithe to the church... The idea that 10% of the block reward is allocated toward infrastructure, innovation, or maintaining the "commons" is important.  10% of the block reward may not be the right number -- but it's probably not less than that.  


Any open blockchain is a "public good" that needs to have a disciplined, transparent and systematic structure for supporting it -- or the investment which has been made in it's initial construction will obsolete or erode over time -- and the capital can't be an endowment, but should come as a flow of funds.  This is really for psychological reasons, people twist themselves into all kinds of odd logics around spending from the income vs corpus of an endowment and expected future returns etc, so it's best to not even go there.

Not sure what the exact numbers are but at about 11 mm coins out and a 42 mm cap, the rough math would be that you'd be allocating 3.1 mm coins to the Dev Fund over the inflationary period of the currency.  The interesting issue is if an allocation to the dev fund can help differentiate the currency by creating a well funded mechanism for development of the platform.

The trick there is that I think then the dev fund allocations/spending needs to be open to throne votes - or some sort of allocation process determined by the community, which might not be implemented initially for strategic/technical reasons -- but would be implemented at block X, or say when around 22 mm coins were out.  In this way allocating 10% of the block reward to dev would involve allocating 1 mm coins to the discretion of the existing dev team and then 2 mm coins to the discretion of the community which is built around the network.

Just an idea... and worth keeping in mind that my thought on ideas is that the key to having good ideas is to have lots of ideas and listen to the feedback you get on them and keep iterating....

I have finished uploading my tutorial!

Crowncoin Throne Setup Tutorial for Windows

Watch it here: https://youtu.be/XZJBC_2sQxk


I will also be making another tutorial to set up a throne on a VPS.

IMHO 10% of the block reward should go to the Dev Fund.  If we want to keep with the metaphor -- it's important to tithe to the church... The idea that 10% of the block reward is allocated toward infrastructure, innovation, or maintaining the "commons" is important.  10% of the block reward may not be the right number -- but it's probably not less than that.  


Any open blockchain is a "public good" that needs to have a disciplined, transparent and systematic structure for supporting it -- or the investment which has been made in it's initial construction will obsolete or erode over time -- and the capital can't be an endowment, but should come as a flow of funds.  This is really for psychological reasons, people twist themselves into all kinds of odd logics around spending from the income vs corpus of an endowment and expected future returns etc, so it's best to not even go there.

Not sure what the exact numbers are but at about 11 mm coins out and a 42 mm cap, the rough math would be that you'd be allocating 3.1 mm coins to the Dev Fund over the inflationary period of the currency.  The interesting issue is if an allocation to the dev fund can help differentiate the currency by creating a well funded mechanism for development of the platform.

The trick there is that I think then the dev fund allocations/spending needs to be open to throne votes - or some sort of allocation process determined by the community, which might not be implemented initially for strategic/technical reasons -- but would be implemented at block X, or say when around 22 mm coins were out.  In this way allocating 10% of the block reward to dev would involve allocating 1 mm coins to the discretion of the existing dev team and then 2 mm coins to the discretion of the community which is built around the network.

Just an idea... and worth keeping in mind that my thought on ideas is that the key to having good ideas is to have lots of ideas and listen to the feedback you get on them and keep iterating....

Crowncoin Update 11th September 2016

Thrones/Masternodes

Crowncoin is in the process of implementing a 2nd tier service network. 10,000 CRW is required as collateral to run a Throne. Thrones receive 40% of the block reward in return for providing a platform for services. At the time of writing, there are 115 Thrones on the Crowncoin network. If you have 10,000 CRW we encourage you to set up a Throne.  The more Thrones we have in operation, the greater security our first services will have.

Crowncoin Mining

To our knowledge, Crowncoin is the only crypto currency to be sha256 mergemineable and also offer a masternode service network. In the last few weeks Crowncoin has been added to several multipools and at the time of writing our network hash rate is over 600Th.  This is an increase of 400Th over our recent average.

Upcoming New Release

We will be performing a hard fork in the near future.  The spork that we executed recently was only a 90% success due to the fact that some old versions of the wallet were not kicked from the network.  The new update will remove the last three nodes that are operating on the incorrect version as we have been unable to contact the node owners.

Apart from the version enforcement, the new update will implement Darkcoin Gravity Wave Version 3.  We decided to implement this due to the fact that a merge mineable coin requires rapid difficulty adjustments to compensate for large pools switching coins meaning that our hash rate can jump by a Petahash or more at a time. Our goal is a consistent block time.

A formal new release notification will be posted on BCT and Twitter in the next day or so.

The First Services & Next Steps

In order to implement our first services, we need to perform a Bitcoin Core update and update to the latest Dash masternode version.  This is our primary focus for now.  We would like to boost our team with more people with experience in these areas.  If interested, please contact me by PM.

In an earlier post I alluded to the fact that several of the Crowncoin team have had ideas re-used by other crypto currencies without crediting the original authors.  There are no hard feelings about this but in order to protect our own interests we have made the decision that we will only announce details of our plans shortly before we are close to releasing them. Expect these updates to take the form of a series of whitepapers and technical documents relating to milestones in our roadmap. Over time, these updates will provide the bigger picture.

In the meantime I am able to share the following information with you.

We have plans to implement two major services on our service network initially, alongside an API to allow other services to be developed.  At the moment we plan to write our own API although we are watching Dash Evolution closely to decide whether we follow their path when the code is open source.

The first service we plan to implement has been in discussion and planing stages for over a year with several members of the Crowncoin team. It relates to Bitcoin. We believe we have solved a problem and hope to be testing that solution in the coming months.

The second service we plan to implement has potential to provide functionality to all other cryptocurrencies that choose to adopt it.

The first chunks of more detailed information about these services will likely be written by me and released to the community after the Bitcoin Core update and Throne/Masternode uplift is complete. I do not want to set timescale expectations right now as we are a new team and still finding our feet a little however we will set expectations more formally as soon as we can.

Please post any questions and we will do our best to answer you.

Yobit can easily add tons of sh*t coins in their exchange yet their always having a hard time fixing the wallet of every coin that having withdrawal and deposit problems.

Yobit have been notified on several occasions. Send them a message telling them how mad you are 

can u fix wallet in yobit?? it was 2 day maintenance and i cant deposit and withdraw

To me trading looks like a fairplay game.

Contact defunctec for signatures

some1 buying the own walls?

easy pump forsure


edit - how did I do the signatures?

in crown we trust....

For what it's worth, wait as long as is appropriate to execute on your plan.  It's more important to shoot and hit the target slowly at a regular pace than it is to rush off a quick succession of bullets/announcements.

A regular rhythm also plays the role of setting expectations and creating momentum. Just making consistent steps forward -- much like the last few you have made, with introducing the thrones and also DGW.  The value proposition seems to be that CRW is a stable base for a variety of activities/applications -- so the message of stability and consistency is probably important. 


Excellent support documentation is also probably essential - kind of gilding the lily, but in terms of facilitating adoption, good clear documentation is one of those things that is usually not done well.  What E1GHTSPACE has done with the videos is a great illustration of one way of doing good documentation -- nice work.  Good documentation pays close attention to process and helping the user understand the steps and purpose of each step so that they develop a generalized knowledge of the software.

Looking forward to seeing where you guys are taking this -- whenever you get around to it.  Don't rush it.

Lol, of course by keeping our cards close to our chest but existing on BCT we are attempting to raise interest on promises and hints.  The irony isn't lost on me.

Maybe I'm thinking about this too much.  We need one more dev to come aboard and help us get through a backlog of updates we need to do before moving on to the fun stuff.  That's a problem that we can solve.