[ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO] - page 30.

AbhijoySarkar

jr. member

Activity: 49

Merit: 2

Quote from: disifi on September 05, 2018, 10:14:25 AM

Well that dashboard was not supposed to be publicly announced yet, there are some things to be done and dev team wants to make things to some proper state before publishing (as you can see with announcing whole project). But too late I think Cheesy

Whoops

! Good things don't stay hidden for long Grin

MarshallJennifer

newbie

Activity: 36

Merit: 0

Good night, Who doesn’t know, anti-money laundering (AML) is a term mainly used in the financial and legal industries to describe the legal controls that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities.

KAMO287

jr. member

Activity: 70

Merit: 2

Quote from: ?? on ??

The scam exchange that posted on here earlier made me wonder -- will MRT ever be listed on a real exchange?

How can an invite-only crypto become listed on an exchange like Binance or BitMex, where the wallet itself is hosted? Will the user need 1 invite-token to have a regular wallet and then another invite-token to trade on an exchange?

To my limited understanding of behind the scenes - the team has mapped out the solution for this.

I'll copy and paste from the website FAQ: https://www.merit.me/faq/

Not yet!

The Merit Market is our first exchange. =] We have not talked to any third-party exchanges yet, but we plan to reach out to them soon. We followed this strategy for many reasons.

The short version is that Merit has been successful so far in onboarding many new users who have never used crypto before. We are extraordinarily proud of this. And most exchanges are “Expert Mode” with 100s of currency pairs and very complex “daytrader” interfaces.

We wanted to be sure that we provided a remarkably simple and easy way for new users to Merit (and crypto in general) to get their hands on Merit.

Additionally, because Merit is invite only, exchanges will have to do a little extra work in order to list MRT. We have several ways to facilitate this process, but in the short term we will continue to support the Market.

AkiAfroo

jr. member

Activity: 114

Merit: 2

Quote from: AbhijoySarkar on September 05, 2018, 10:16:04 AM

Quote from: Sionadgeocon on September 05, 2018, 08:56:31 AM

Well, I think that the team needs to promote the idea on various platforms including social media platform as well as the forum

Agreed. The Team is currently involved in heavy dev stuff. Their Git repo keeps updating all the time!
If you are into DOTA, here's something cool they did recently - https://www.merit.me/blog/merit-partners-with-jeremy-lins-dota2-esports-teams-vgj-storm-vgj-thunder/

disifi

newbie

Activity: 20

Merit: 0

Quote from: ?? on ??

The scam exchange that posted on here earlier made me wonder -- will MRT ever be listed on a real exchange?

How can an invite-only crypto become listed on an exchange like Binance or BitMex, where the wallet itself is hosted? Will the user need 1 invite-token to have a regular wallet and then another invite-token to trade on an exchange?

It definitely will, from FAQ:

We have not talked to any third-party exchanges yet, but we plan to reach out to them soon. We followed this strategy for many reasons.

The short version is that Merit has been successful so far in onboarding many new users who have never used crypto before. We are extraordinarily proud of this.
And most exchanges are "Expert Mode" with 100s of currency pairs and very complex "daytrader" interfaces.

We wanted to be sure that we provided a remarkably simple and easy way for new users to Merit (and crypto in general) to get their hands on Merit.

Additionally, because Merit is invite only, exchanges will have to do a little extra work in order to list MRT. We have several ways to facilitate this process, but in the short term we will continue to support the Market.

AbhijoySarkar

jr. member

Activity: 49

Merit: 2

Quote from: Sionadgeocon on September 05, 2018, 08:56:31 AM

Well, I think that the team needs to promote the idea on various platforms including social media platform as well as the forum

Agreed. The Team is currently involved in heavy dev stuff. Their Git repo keeps updating all the time!
If you are into DOTA, here's something cool they did recently - https://www.merit.me/blog/merit-partners-with-jeremy-lins-dota2-esports-teams-vgj-storm-vgj-thunder/

damage83

newbie

Activity: 2

Merit: 0

The scam exchange that posted on here earlier made me wonder -- will MRT ever be listed on a real exchange?

How can an invite-only crypto become listed on an exchange like Binance or BitMex, where the wallet itself is hosted? Will the user need 1 invite-token to have a regular wallet and then another invite-token to trade on an exchange?

disifi

newbie

Activity: 20

Merit: 0

Quote from: sizzleplussteak on September 05, 2018, 10:07:08 AM

Quote from: AbhijoySarkar on September 05, 2018, 10:02:37 AM

Quote from: sizzleplussteak on September 05, 2018, 09:46:37 AM

Oops -- my mistake. You are right. I didn't realize there was a dashboard that lets you visualize the network. Is this an official Merit project? I didn't see it in the ANN.

Yes, https://dashboard.merit.me/ and everything on it (including the star chart) is part of the official Merit project. It's inspired by the block stats explorer project developed my disifi (https://merit.disifi.com/).

Then this should totally be in the ANN -- it looks really good, and helps make the project feel more legitimate.

Well that dashboard was not supposed to be publicly announced yet, there are some things to be done and dev team wants to make things to some proper state before publishing (as you can see with announcing whole project). But too late I think Cheesy

KAMO287

jr. member

Activity: 70

Merit: 2

Quote from: disifi on September 05, 2018, 10:07:56 AM

Quote from: farting_shot on September 05, 2018, 10:04:37 AM

Quite interesting -- is there some simple explanation for how the community growth score (CGS) is calculated? If not, can someone point me to the section in the BluePaper about it?

It's on page 10, part 4.5, really complex thing.

In short, it's as I posted earlier:
- get as much Merits as possible and hold (it matures, 50% after 7 days, fully after 30 days)
- invite as much people as you can with as much Merits as possible
- teach them to do those two things above, so your network will be growing

For those lurking and wondering more - adding to this:

Blue Paper Link: https://www.merit.me/uploads/2018/bluepaper.pdf

From page 10/11:

1. Aged Balances of all the addresses.
2. Address Contribution of all the addresses.
3. Subtree Contribution of all the subtrees in the Ambassador Forest.
4. The Weighted Score of all the addresses.
5. The Expected Value of each address.
6. And finally the Community Growth Score of each address.

It is quite complex- but well thought through and designed. The team is always working to improve it

disifi

newbie

Activity: 20

Merit: 0

Quote from: farting_shot on September 05, 2018, 10:04:37 AM

Quite interesting -- is there some simple explanation for how the community growth score (CGS) is calculated? If not, can someone point me to the section in the BluePaper about it?

It's on page 10, part 4.5, really complex thing.

In short, it's as I posted earlier:
- get as much Merits as possible and hold (it matures, 50% after 7 days, fully after 30 days)
- invite as much people as you can with as much Merits as possible
- teach them to do those two things above, so your network will be growing

sizzleplussteak

copper member

Activity: 7

Merit: 0

Quote from: AbhijoySarkar on September 05, 2018, 10:02:37 AM

Quote from: sizzleplussteak on September 05, 2018, 09:46:37 AM

Oops -- my mistake. You are right. I didn't realize there was a dashboard that lets you visualize the network. Is this an official Merit project? I didn't see it in the ANN.

Yes, https://dashboard.merit.me/ and everything on it (including the star chart) is part of the official Merit project. It's inspired by the block stats explorer project developed my disifi (https://merit.disifi.com/).

Then this should totally be in the ANN -- it looks really good, and helps make the project feel more legitimate.

KAMO287

jr. member

Activity: 70

Merit: 2

Quote from: @scambuster on September 05, 2018, 10:01:37 AM

Did this project do an airdrop yet? If not, will there be one?

Also, if you are not doing an ICO, how are bigger investors supposed to be able to buy larger bags?

There was no ICO because the core team didnt see it as a fair distribution of Merit - and it's a heavy lift to manage - not their focus as they intend to build working product

and no airdrop that I know of... they kinda just hit the ground running and arnt looking back! You can get airdrops from the pools though if you mine (sometimes).

GREAT question about larger bags.

there is a built in escrow service/market for Merit and BTC. Check it out at https://market.merit.me/ - I think it's slick and has easy integration with their wallets!

farting_shot

full member

Activity: 318

Merit: 100

Quote from: KAMO287 on September 05, 2018, 09:58:03 AM

Quote from: farting_shot on September 05, 2018, 09:51:23 AM

Quote from: KAMO287 on September 04, 2018, 02:38:34 PM

Quote from: BitCoinsForGold on September 04, 2018, 02:30:14 PM

Rough timing to launch a new altcoin, but the project looks pretty interesting.

Can you explain a bit more about how this invite-only thing works? And how is it the foundation for proof-of-growth, as the ANN states?

The invites help drive proof of growth and other features of Merit.

So when a miner (using Proof of Work) finds a block, It has 20 Merit. 10 go to the miner for a reward, and 10 go into a lottery where the growth rewards are distributed. I can go into much more detail, but at a high level people also call it "growth Mining" kinda cool concept.

If you want to try it out let me know: https://wallet.merit.me/?invite=KAMO287

Is there an easy explanation for how the "Growth Lottery" happens? Is it based on global activity? Or just what a user does in the last block? (Which would only be in the last minute??) Or something else?

High Level- as you grow your community you get a "Community Growth Score" and that score allows for more attempts at the lottery (basically) - these rewards are payed out Per-block but not based on recent activity necessarily - just kinda a "hey you are all awesome and everyone gets a chance"

Every time a blocked is mined using Proof of Work - Proof of Growth kicks in too. 50/50 split of block rewards. -- Growth Lottery isnt directly tied to invite distribution either.

Hope that helps!

Quite interesting -- is there some simple explanation for how the community growth score (CGS) is calculated? If not, can someone point me to the section in the BluePaper about it?

AbhijoySarkar

jr. member

Activity: 49

Merit: 2

Quote from: sizzleplussteak on September 05, 2018, 09:46:37 AM

Oops -- my mistake. You are right. I didn't realize there was a dashboard that lets you visualize the network. Is this an official Merit project? I didn't see it in the ANN.

Yes, https://dashboard.merit.me/ and everything on it (including the star chart) is part of the official Merit project. It's inspired by the block stats explorer project developed by disifi (https://merit.disifi.com/).

@scambuster

full member

Activity: 137

Merit: 100

Did this project do an airdrop yet? If not, will there be one?

Also, if you are not doing an ICO, how are bigger investors supposed to be able to buy larger bags?

disifi

newbie

Activity: 20

Merit: 0

Quote from: farting_shot on September 05, 2018, 09:51:23 AM

Is there an easy explanation for how the "Growth Lottery" happens? Is it based on global activity? Or just what a user does in the last block? (Which would only be in the last minute??) Or something else?

Lottery is based on two types of "community growth scores" equally CGS and subCGS (5 MRT and 5 MRT each block). It's combination of your balance with your activity in inviting new people, growing your network. To make your scores bigger, easiest explanation would be:
- get as much Merits as possible
- invite as much people as you can with as much Merits as possible
- teach them to do those two things above, so your network will be growing

KAMO287

jr. member

Activity: 70

Merit: 2

Quote from: farting_shot on September 05, 2018, 09:51:23 AM

Quote from: KAMO287 on September 04, 2018, 02:38:34 PM

Quote from: BitCoinsForGold on September 04, 2018, 02:30:14 PM

Rough timing to launch a new altcoin, but the project looks pretty interesting.

Can you explain a bit more about how this invite-only thing works? And how is it the foundation for proof-of-growth, as the ANN states?

The invites help drive proof of growth and other features of Merit.

So when a miner (using Proof of Work) finds a block, It has 20 Merit. 10 go to the miner for a reward, and 10 go into a lottery where the growth rewards are distributed. I can go into much more detail, but at a high level people also call it "growth Mining" kinda cool concept.

If you want to try it out let me know: https://wallet.merit.me/?invite=KAMO287

Is there an easy explanation for how the "Growth Lottery" happens? Is it based on global activity? Or just what a user does in the last block? (Which would only be in the last minute??) Or something else?

High Level- as you grow your community you get a "Community Growth Score" and that score allows for more attempts at the lottery (basically) - these rewards are payed out Per-block but not based on recent activity necessarily - just kinda a "hey you are all awesome and everyone gets a chance"

Every time a blocked is mined using Proof of Work - Proof of Growth kicks in too. 50/50 split of block rewards. -- Growth Lottery isnt directly tied to invite distribution either.

Hope that helps!

EmTee

newbie

Activity: 14

Merit: 1

Quote from: AkiAfroo on September 05, 2018, 09:49:19 AM

Quote from: sizzleplussteak on September 05, 2018, 09:21:18 AM

Quote from: sizzleplussteak on September 04, 2018, 03:59:40 PM

This is a pretty impressive project, from what I can tell. Is that star-chart visualization of the network based on actual data, or is it some kind of estimate, vague approximation, or projection?

Hey guys -- no one answered my question Sad

That visualization is really impressive, but I would like to know where it came from and if it is backed by real data.

its real data based on merit blockchain.

It can be viewed at https://dashboard.merit.me and you can select 'Full Network' from the dropdown.

disifi

newbie

Activity: 20

Merit: 0

Quote from: sacloci on September 05, 2018, 09:38:36 AM

Good night,
What's hardcap and softcap please?
I read the super short whitepaper but I cannot find this info
I wanna join this idea as it suggested by admin of the biggest crypto forum Wink

No ICO no caps Wink

You can see some current stats on https://merit.disifi.com

farting_shot

full member

Activity: 318

Merit: 100

Quote from: KAMO287 on September 04, 2018, 02:38:34 PM

Quote from: BitCoinsForGold on September 04, 2018, 02:30:14 PM

Rough timing to launch a new altcoin, but the project looks pretty interesting.

Can you explain a bit more about how this invite-only thing works? And how is it the foundation for proof-of-growth, as the ANN states?

The invites help drive proof of growth and other features of Merit.

So when a miner (using Proof of Work) finds a block, It has 20 Merit. 10 go to the miner for a reward, and 10 go into a lottery where the growth rewards are distributed. I can go into much more detail, but at a high level people also call it "growth Mining" kinda cool concept.

If you want to try it out let me know: https://wallet.merit.me/?invite=KAMO287

Is there an easy explanation for how the "Growth Lottery" happens? Is it based on global activity? Or just what a user does in the last block? (Which would only be in the last minute??) Or something else?

Topic: [ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO] - page 30. (Read 33430 times)