Topic: [ANN][DRIP][POS][MN] Now offering masternode monitoring and hosting services - page 20. (Read 5926 times)

French translation reserved.

This coin has been promoted in new coin group, good luck team!
https://t.me/CoinsANN
https://discord.gg/Afwc2wn
http://finfront.ru/wp-content/uploads/2018/03/%D0%9C%D0%B0%D0%B9%D0%BD%D0%B8%D0%BD%D0%B3.jpg

German translation reserved

Russian translation reserved, image translation

Retailer Rewards and Charitable Contributions

For every block in a typical PoS Masternode coin, there is a block reward that is split between the masternode and the staker (anyone holding coins in a wallet that is online for staking).  DRIP add to this by allocating a portion of the block reward to retailers in return for acceptance of DRIP or to charitable organisations. It works as follows:

• For every block, the last address to which the winner of the staker reward for that block is also awarded a portion of the block reward;
• If the person winning the staking reward has never sent DRIP before, only bought and staked, the retailer reward defaults to a charity address;
• When we ramp up marketing later this year, we will use the fact that retailers can be rewarded to tempt them into acceptence of DRIP - in doing so, they'll be paid in full for their goods and services but will also have an opportunity to receive further rewards through this DRIP rewards system;
• The charity funds will be sold and distributed to charities, as voted on by masternodes, every quarter;
• The charity voting will be automated through the wallet and a choice of three charities will be given based upon community feedback on Discord;
• The DRIP founder has a charity close that he'd like to award the first payment to unless the community are in total disagreement - more detail to be announced;

Send as Bitcoin

Whilst the retailer rewards and charitable donations features will be in place on day 1, this feature will take more time to develop and requires funding for more full-time developers - hence our attempt tos get exchange listed as soon as possible.

When introducing a new cryptocurrency , a proper development team will have many ideas about the future of the product but the greatest ideas take the longest time to develop. Until a project is funded, the thousands of man-hours required to develop these features do not exist. As a result, a development team can only really take an existing product, customize it slightly and add the least labor-intensive feature before taking the product to market. For us, this feature was the retailer/charity rewards portion of the staking rewards. This is a simple idea but will reap huge benefits when it comes to persuading retailers to accept DRIP as payment for their goods and services.

My team and I have many other ideas and, perhaps, it's the fact that these are in our heads as opposed to in the public domain that has us so shocked that our Discord has only hit 250 members whilst other coins that offer much poorer value have 1000's (it's only been 4 days since announcement so maybe we're being too ambitious).

Given the above information, and the fact that one of the first questions usually posed by others when presented with a new coin is 'how are you different', we are faced with a dilemma. Do we release all information and risk other coins, with huge funding providing them with a much larger development team, stealing our ideas and coming to market first?

At first, our plan had been to keep all of our ideas secret because DRIP is already a fantastic product. This approach isn't leading us to the adoption we'd like at a fast-enough pace so, with the approval of the DRIP team, I am now going to release one idea for which I don't believe there is yet a competitor.

There are many coins that are introducing marketplaces for their own coins today. As a team, we do not like this idea. We are of the belief that if a crypto marketplace that can rival eBay is ever to emerge, it won't be that produced as a side-project to a particular coin. Instead, it'll be an independent project that accepts multiple cryptocurrencies.

With all the above in mind, one of DRIP's idea for the future is not a marketplace, but a feature that will allow DRIP to be spent on any crypto marketplace. Basically, a back-end exchange operated by our masternodes - not to manually exchange currencies like a traditional exchange, but to allow us to offer a 'Spend Privately as Bitcoin' button on our wallets. This will be designed in a flexible manner so that we can adapt in the future if Bitcoin's loses its throne as number 1 cryptocurrency – or add other options to ‘spend privately as’ if that feature makes sense.

When we have this feature, one of many planned (some great, some average), in place, a DRIP user will be able to spend their cryptocurrency absolutely anywhere that accepts Bitcoin - and will be able to do so privately without the spend ever being traceable back to your wallet.
So just imagine, in the future, eBay see the rise in market share of online auctions accepting crypto. In this scenario, they’d be foolish not to start accepting it themselves to stomp out the competition. With a ‘BitcoinBay’ in place,  there’d be billions worth of Bitcoin spent on a monthly basis – but no one using the platform would have any privacy and transactions could be tracked back to wallets via the blockchain. DRIP would offer anyone wanting to use this platform a unique value-proposition.

The above feature not only adds significant value to those holding DRIP as their currency of choice - it also adds an additional revenue stream to masternodes in the future as there will be a yet-to-be-decided fee for someone wanting to 'Spend Privately as Bitcoin'.

As an idea, we think ‘Spend Privately as Bitcoin’ is up there with the best of them. As such, it's the only one we intend to make public for now. If I'm being honest, I fully expect someone else to steal it. As a team, we've decided that someone stealing this one will take the burden of development off our team. If they steal our idea, I’m sure the DRIP community would agree that we should have no qualms with stealing their code, if it's up to our standards, freeing us up to work on development of our other ideas (as a funded project at that point, we'll be better able to keep them under wraps until release).

How can you get some DRIP?

There were no DRIP masternode sales and no DRIP coin sales. DRIP coin was distributed fairly to miners who mined ASIC-resistant coins that were unavailable on Nicehash to DRIP owned addresses. This ensured a wide distribution of coins. We are now approaching a point where all coins held for distribution for miners will soon be fully distributed.

However, DRIP should be listed on CryptoBridge on the week beginning 11th June 2018 and coins can be purchased at that time.

DRIP is an open source crypto-currency focused on fast private transactions with low transaction fees and minimal environmental footprint. It is a fork of the latest version of PIVX which now offers, among other features, private staking. At the beginning, DRIP will offer the additional feature of a portion of each block reward going to retailers and/or charities (further detail below). As a community governed coin with a different community to PIVX, this will only be the first in a long list of differences coming soon. Further information will be available in our whitepaper - which is linked to above.

DRIP utilizes a custom Proof of Stake protocol for securing its network and uses an innovative variable seesaw reward mechanism that dynamically balances 90% of its block reward size between masternodes and staking nodes - with the remaining 10% dedicated to community budget proposals. A further portion of the block reward is assigned to the last person to whom the PoS winner of each block has sent coins to. The purpose of this is to incentivise retailers to accept DRIP - as acceptance of DRIP will result in being paid for their product or service AND getting an opportunity for further awards.

Should the miner of a block not have sent DRIP before, i.e. they have only set up a wallet and received money, the reward that would normally go to the retailer will go to a DRIP address reserved for charity. Coins in this address will be sold off at regular intervals and the proceeds donated to various charities.  

The primary goal of DRIP is to achieve a decentralized sustainable crypto currency with near-instant, private transactions, fair governance and community intelligence.

• Anonymized transactions using the [_Zerocoin Protocol_]
• Fast transactions featuring guaranteed zero confirmation transactions - _SwiftX_
• Decentralized blockchain voting utilizing Masternode technology to form a DAO. The blockchain will distribute monthly treasury funds based on successful proposals submitted by the community and voted on by the DAO

More information at [dripcoin.tech](http://www.dripcoin.tech)


Coin Specs

Block Time	60 Seconds
Difficulty Retargeting	Every Block
Max Coin Supply (PoS Phase)	Infinite
Premine	290,000 DRIP*

*40,000 DRIP will be used to run four developer masternodes, resulting in a stable network. The other 250,000 coins will be distributed to the community using the various approaches detailed in our whitepaper and social media groups. These tokens will not be staked or used for masternodes during the distribution phase and any undistributed tokens will be burned on the day we list on an exchange.


Reward Distribution

Block Height	Reward Amount	Notes
1	290,000 DRIP	Primarily for distribution to the miner community

PoW Rewards Breakdown

Block Height	Team
2-120	2 DRIP

PoS Rewards Breakdown

Phase	Block Height	Reward	Masternodes & Stakers	Retailer/Charity	Budget
1	121-43200	11 DRIP	10 DRIP (90% staker)	1 DRIP	10%
2	43201-129600	151 DRIP	150 DRIP seesaw	1 DRIP	10%
3	129601-216000	131 DRIP	130 DRIP seesaw	1 DRIP	10%
4	216001-302400	111 DRIP	110 DRIP seesaw	1 DRIP	10%
5	302401-388800	91 DRIP	90 DRIP *	1 DRIP	10%
6	388801-475200	56 DRIP	55 DRIP *	1 DRIP	10%
7	475201-561600	46 DRIP	45 DRIP *	1 DRIP	10%
8	561601-648000	26 DRIP	25 DRIP *	1 DRIP	10%
9	648001-734400	11 DRIP	10 DRIP *	1 DRIP	10%
X	734401-Infinite	5.5 DRIP	5 DRIP *	0.5 DRIP	10%

*After block 302,400, the reward split between masternode and staker will move from the seesaw algorithm to a fixed reward based upon whether the staker is staking DRIP or zDRIP. If the staker is staking zDRIP, they get 60% of the reward. Otherwise, they get 40%. The remainder goes to the masternode.


Token Distribution Details


Pre-Mine

40,000	Four masternodes to be run by team in order to maintain a stable network until other masternodes come online (burning of these tokens will happen after phase 3)
20,000	To be used for the DRIP coin bounty programs
230,000	To be distributed to miners - and not to be staked or used for masternodes whilst awaiting distribution
290,000	Total

Fundraising

Through miners mining to DRIP-owned LUX and RVN addresses, we secured funding for the following:

First Exchange Listing	0.7 BTC
masternodes.online	0.2 BTC
masternodes.pro	0.1 BTC
Second Exchange	1 BTC