So to sum up this a Ethereum fork with custom PoW algo - modded cryptoNight, right?
Can someone please explain how do you lock the premined funds? I know such locks are possible if you use smart contracts, but how to lock funds on the live blockchain? Is the smart contract is used?
Can someone please explain how do you lock the premined funds? I know such locks are possible if you use smart contracts, but how to lock funds on the live blockchain? Is the smart contract is used?
Webchain has transparent transactions, so before locking, we discussed it with community how locking should look like, and we agreed it's going to be public announcement. Why this is enough? Because the moment we move more money from that account and try to sell it, everyone wil see it and everyone will know we are scammers. But we won't do it and we are not scammers
Also we are going to show our faces, pictures and bio soon.
We are building few things that will probably never be in Ethereum as they decided to go PoS in future. Also changing PoW to custom cpu-friendly has many more consequences. We are building javascript solution and we are going to present whole package hopefully in Q3, including ecosystem to monetize your websites, which is already ready and quite sucessfull, but needs tuning to support webchain.
ETH is going PoW/PoS hybrid mode. Can you at least name the ideas behind "few things"?
I agree that it is different, this is self imposed lock-in which we could break, but not without spooking everyone and pretty much admitting we are scammers, causing price to plummet and not receiving anything in return, since probably every exchange will close our account immediately. (And I hope in such situation some community member would report us to police. I'm owner, only person who has access to those funds and I was born and I live in European Union - this I can say for now, everything else will be revealed later. why not now? because we are working on page with all pictures and bio team is making itself some selfies as we speak 
)
not to mention - good luck selling great amount of coins at early stage of the project - we would cause the coin to be worthless and we would not gain anything for reasons mentioned above
So end effect is the same. It's economically stupid to do so.
It's not blockchain solution because we didn't plan any lock in, but community members aproached us and told us they feel not secure if there is no lock in promise. We felt they are right and we agreed for such solution for simplicity.
team is making itself some selfies as we speak )not to mention - good luck selling great amount of coins at early stage of the project - we would cause the coin to be worthless and we would not gain anything for reasons mentioned above
So end effect is the same. It's economically stupid to do so.
It's not blockchain solution because we didn't plan any lock in, but community members aproached us and told us they feel not secure if there is no lock in promise. We felt they are right and we agreed for such solution for simplicity.
There is always a very good option to send premine funds to reputable escrow with specific terms. Just my 2 cents
How it possible to mine this asic resistance 